Don’t assume your kids are going to learn about how to manage money well in school. There is a growing recognition of the need, but few children are fortunate enough to learn money matters in school—solid foundational principles they’ll hold onto throughout their lives.

If you have kids, teaching them about money rests squarely on your shoulders.

So how are you doing with that? Don’t know where to start? Today, I’ve prepared an important but simple lesson for you to teach to the kids:

Principle: The secret to reaching your goals in life is to make good choices with your money.

If you spend your money without thinking about your choices, you will probably make bad decisions. A wise person considers three important things before making a spending decision:

1. VALUES

What causes someone to go on a hunger strike or to climb a tree and not come down until “they” promise not to cut down any more trees? What causes someone to host his own 13th birthday party at a homeless shelter where he gives gifts to 300 children he’s never met? What causes a 16-year old girl to skip lunch every day in order to pay for a tattoo? What causes you to do the things you do? The answer is values. Values are things like kindness, love, self-worth, spirituality, respect, fairness, compassion, creativity, thrift and faith. Make a list of your top seven values.

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