For my 4-year-old, we're already implementing this approach:
1. Basic money management: He has a piggy bank for coins earned through good behavior.
2. Goal-based saving: We encouraged him to save for imported longan, a treat he fondly remembers from our Asia trip. He'll use his savings to pay for it.
3. Future plans: Once he's ready, we'll introduce simple investing concepts using Junior Monopoly.
By balancing saving and investing, young people can:
- Build financial literacy and responsibility
- Accumulate wealth over time
- Secure a stronger financial future
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