How to teach your kids about money: the tween and early teen years investinyou (In partnership with acorns.)
Not only are they encountering new social situations and gaining more responsibility, they are also forming a big part of their relationship with money.
It's also a time when kids are starting to have true peer-to-peer relationships and begin measuring themselves against others, said Ali Hutchinson, managing director at Brown Brothers Harriman and leader of the firm's next generation program. You can also help your child come up with other ideas to make money, like babysitting or dog walking.Now that your children have their own spending money, they'll have to learn the difference between something they need and something they want.You want to teach them how to make a good and best choice ... with the amount of resources they have.
"You want to teach them how to make a good and best choice ... with the amount of resources they have," she said.
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