The Suze Orman Show Season 3 Episode 22 How To Raise Financially Responsible Children

In the Suze Orman Show season 3 episode 22, titled "How To Raise Financially Responsible Children," Suze Orman shares essential tips for parents on how to teach their children about money management and financial responsibility.

Orman starts the show by discussing the importance of teaching children about money management and why it's crucial to start early. She explains that the earlier children are introduced to financial concepts, the more likely they are to develop good financial habits that will benefit them in the long run.

Orman then discusses several practical ways parents can teach their children about money management, starting with opening a savings account for them. She explains how parents can help their children set financial goals and how to incentivize them to save by offering to match their savings or giving them rewards for reaching their goals.

Orman also shares some creative ways parents can teach their children about the value of money, such as giving them a budget for back-to-school shopping or showing them how to comparison-shop for the best deals. She also discusses the importance of having children contribute to household expenses, such as by paying for their own cell phone bills or helping with grocery shopping.

Throughout the episode, Orman emphasizes the importance of teaching children about the dangers of debt and how to avoid it. She advises parents to teach their children about credit cards and loans, explaining how interest rates work and why it's important to pay off debt in a timely manner.

Orman also discusses the role of technology in money management, noting that there are many apps and tools available to help children learn about and manage money. She talks about some of her favorite financial apps for kids and how they can be used to reinforce the lessons parents are teaching.

Finally, Orman addresses some common misconceptions parents may have about teaching their children about money, such as the belief that children are too young to understand financial concepts. She explains that even young children can start learning about money by playing games or doing activities that involve counting and basic math skills.

Overall, "How To Raise Financially Responsible Children" is an informative and engaging episode that offers practical advice for parents on how to teach their children about money management and financial responsibility. Whether you're a parent looking to start the conversation about money with your kids or a seasoned pro looking for new tips and strategies, this episode is sure to have something for you.