At the young adult level, expose them to different bank instruments (loans, insurance, investments) to help them start thinking about ways to diversify their savings. Guide them in looking for work that will help them develop their skills. Remind them that it’s okay to spend as long as they are putting some away. They will need to revisit their goals to remind them where their savings will go in particular.

2. Enjoy using money, but use it wisely.

Armed with how to view and treat money, both from your example and instruction, show them that money is fun to use. Whether by saving for a rainy day (or a date with their special someone or a branded bag), money need not be seen for its lack.

When they plan the use of their money, spending doesn’t have to feel like too much of a high nor a depressing low. It is what it is. Sure, they’ll have fun, but it’ll be tempered by the fact that it was spent on something they thought of. There may also be times when they splurge. But again, they know that they can either earn the money that they spent back or just chalk the experience up to simply a lesson learnt.

Remember, consistency and communication are keys in any example we set for our kids. We’re not perfect, of course, but let them learn from our mistakes as well as our successes as we support them in theirs.

This article was originally published on and re-published on with permission.

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