Parents who do not teach their children about money are setting their children up for a lifetime of financial difficulties.
It's natural for parents to want to give their children everything they desire, but indulging them with too many material belongings can harm their financial future.
It can be difficult for children to acquire appropriate money lessons if their parents have poor spending habits or live over their means.
When parents fail to save for their children's college education, both parents and kids may face financial hardship.
Unexpected circumstances such as job loss, illness, or a big home repair can put a significant burden on your finances if you don't have an emergency fund.
Parents who disregard these guidelines may find themselves in debt or unable to accomplish their financial goals.
Parents who neglect to teach their children about credit scores and ethical credit use risk putting them in financial trouble in the future.
Co-signing a debt can be dangerous, especially if the parent is unaware of the potential ramifications.