What does it take to get your child ready to manage money? If only it were as easy as selecting from a list of “successful” first names drawn up by a UCLA researcher.1 The research shows particular first names come with a preconceived notion of respect and prosperity. (And if you’re wondering, the top names are Jacqueline, Morgan and Elizabeth for girls, and Steven, Ross and Christopher for boys.)
Let’s face it: No matter what you name your kid, there’s no guarantee of fame or fortune. But you can teach them money lessons that should help you all sleep better. Studies show children can get the concepts of earning, spending, and saving as young as age seven.2
Here are five fresh ways to teach your kids about money, so they hopefully handle it well in the future.