Teaching Kids & Teens Financial Responsibilities Through Chores

In teaching kids about the value of money, today’s parents appear to be trying to spare their children some of their own pitfalls when it comes to learning about finances. The survey found that nearly half of parents learned about money on their own, and only 39 percent were taught by parents or family members. Among millennials, 48 percent learned from their parents.

Chores are a powerful way to help children learn money management skills that will be valuable throughout their lives. I discuss this with financial expert and family money management professional, Beth Taylor, Director at Northwestern Mutual.