When we look at our kids, we don’t typically think of them as mini business moguls. But maybe we should. After all, children are naturally smart about money; it doesn’t take them long to figure out that the world is full of things they want and that many of those things include a price tag. Where parents often struggle is in balancing providing for their children with teaching them how to provide for themselves. Rather than just giving them the money to buy whatever their little hearts’ desire, some parents might be surprised to learn that the answer may be teaching them how to earn it – and starting young.
At least that’s what Gail Haynes, author of “The Lemonade Stand Millionaire: A Parent’s Guide to Encouraging the Entrepreneurial Spirit in Your Kids”, believes. In fact, she suggests that teaching and encouraging entrepreneurship in kids right from the get-go is part of a sound financial education.
Don’t worry – we’re not talking about a hard-driving campaign to make your 2-year-old the next Mark Zuckerberg. Instead, it’s about helping kids build the confidence to do anything, no matter where their interests lead them into adulthood; and, ensuring they have the money skills to keep them from landing where so many adults have fallen before: broke, in debt and out of options.
Why should you nurture little entrepreneurs? Check out a few key reasons why it’s fundamental to any child’s financial education in my new post on GoldenGirlFinance.com.