TALLAHASSEE, Fla. (WTXL) -- Kids and teens might be anxious to spend that Christmas cash, but its also a good time for a lesson in financial planning.
Wealth advisor Stacy Bush joined us on WTXL Midday to offer some advice on how parents can teach their kids how to spend and save responsibly.
He says you need to find a system that works best for your family, but there are several options
Bush recommends starting money lessons when your kids are young, and letting them see bank statements so they can actually look at how money is being spent
Here are Bush's six tips:
1. Pay for hard work
2. Set up a savings system
3. Create a matching goal
4. Let them plan for the family
5. Make money lessons fun and purposeful
6. Allow them to make mistakes
Bush has practiced independent financial advising in the Valdosta area for 14 years. You can send in any questions to email@example.com