plays a big role, it is easy to get guidelines on every single aspect of personal finance from such avenues.
* Set goals – Dreaming big and idealistic is the key to achieving your goals. Keep a practical goal and work for it. Teenagers should be taught this aspect of personal finance from the beginning. Teens understand this concept if they are made to save for something they want - be it a bike or a tech gadget or a holiday, rather than be given with the funding immediately on asking.
The smart way to educate your teenage children regarding personal finance is by using practical examples and instances which matter to them. For example, you can teach them about liabilities by discussing about education loans, as this is an integral part of higher studies. Practical hands on approach and constant guidance are absolute musts while imparting personal finance knowledge to teenagers.