In this AfternoonLIVE interview, Christa Mathews, co-author of HowMoneyWorks for the Next Generation: Act Now or Pay Later, highlights why financial literacy is essential for kids growing up in a cashless world. She provides actionable strategies for parents to help children understand money from an early age.
Key Takeaways:
- 3-8 years old: Teach that money is earned, not given, with small tasks.
- 6-9 years old: Use jars or envelopes to introduce saving, spending, and giving.
- 10-13 years old: Encourage delayed gratification with savings goals.
- 14+ years old: Teach budgeting, credit, and long-term saving habits.
Christa emphasizes that it’s never too early—or too late—to start learning about money. Even small financial habits, when developed early, can lead to long-term security. Parents are encouraged to take control of their financial education alongside their kids.