Raising Financially Savvy Kids in a Cashless World

I learned a great deal about how to teach children and youths about the value of money tonight as I facilitated the conversation with Ernest Tan, Sze Siang & Jovin. This topic becomes increasingly challenging as the world shifts towards a cashless society.

Some learning points from participants:

"Allowance is a privilege not entitlement."

"Teach gratitude; receive allowance with thanksgiving."

"To remind our kids to be grateful - the attitude they show when they receive their allowance"

"3 money jar system: Saving, Spending, Sharing"

"Teach our children the difference between wants vs needs"

"Teaching starts at birth but also never too late to start"

"The importance of teaching my children about managing their finances well."

"Learn to invest at a young age."