If there's>Time is a factor
Yes, you read that right: To Buffett's point,researchers have noted that 80% of our brain growth happens by age 3.
One study from Cambridge University found that kids are already able to grasp basic money concepts between the ages of 3 and 4. And by age 7, basic concepts relating to future financial behaviors will typically have developed.
"Most parents already know how important it is to teach their kids about money and how to manage it properly," Buffett acknowledged. But there's a difference between and .
According to a 2018 survey from T. Rowe Price, which gathered responses from 1,014 parents (of children between the ages of 8 to 14) and more than 1,000 young adults (ages 18 to 24),>Lessons Buffett taught his own kids
In 2011, Buffett helped launch a children's animated series called "Secret Millionaire's Club," which featured himself as a mentor to a group of students.
There are 26 episodes in the show, and each>'It's never too early'
Instilling healthy financial habits in your kids is one of the most important things you can do to help ensure they have a successful future.
"It's never too early," Buffett said in a Q&A with Yahoo Finance in 2013. "Whether it's teaching kids the value of a dollar, the difference between needs and wants or the value of saving — these are all concepts that kids encounter at a very early age, so it's best to help them to understand it."
