Becoming financially savvy will help any individual manage their personal and professional lives easily. The sooner you start becoming financially aware and responsible, the better prepared you will be for different stages of life.
Teaching kids and teens about good money habits early is key for their long term financial security and personal/professional success. Some things that I learned through an article about money and kids/young adults are:
For kids, money is a lot more visual. The best way to help them understand the concept of saving is to use a jar that lives in a visible place, so they can watch money being put away and spent at a later date.
Use a summer job not only as an opportunity to start the conversation about budgeting and finances but also about the responsibility of earning money and saving it.
Encourage them to ask questions when it comes to money and create a safe environment where they can come to you about it.
Source link: An age-by-age guide to teaching your kids about the value of money