Teach your kids about money. This tip is from Michael Chadwick, a certified financial planner from Unionville, Connecticut.
Why it matters. It really doesn't matter how rich or poor you are. If you don't teach your kids how to handle money, they're going to have problems.
"Don't enable your kids to be financially illiterate or mentally weak. Make them face financial reality ... Don't bail them out or fight their battles for them," Chadwick advises. "Kids need to know life has winners and losers. Don't be afraid to hurt their feelings. They'll get over it and be stronger because of it."
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