Understand Needs vs wants
Take care of your needs before your wants
This skill is basic – yet it is one of the most critical skills to master. It seems that even when you think you’ve got it mastered, some marketer finds a way to pierce your armor.
How will a child learn to prioritize their money expenditures if they don’t know how to separate a need from a want? Granted, many parents take care of most of their needs but this is the age where the child should start taking care of some of their own needs. If you don’t start doing this now, what kind of a shock do you think will occur when suddenly; they’re responsible for ALL of their needs and wants?