3 easy tips to help kids learn good money habits

As people put the gift-giving holidays behind them, many families use the new year as a reset, with many taking the opportunity to start new habits like saving more money.

A local financial expert talked to WCNC Charlotte anchor and reporter Jane Monreal about showing children good financial practices during this time, especially with many having been gifted money during the holidays.

Pawan Murthy, CMO for the family digital wallet platform, Rego, explained how it's never too early for parents to teach financial literacy.

"There's a research by Purdue University that says kids establish their financial habits by age 7. And they're watching their parents on how they spend and save," Murthy said.

The parent to two teenagers himself, Murthy said financial literacy can be broken down into two components.

"What is a checking account? What is a savings [account]? What's an interest rate? What's a credit score? A lot of it is taught in school." Murthy said. "We think that what's missing is the experiential aspect of it. That is the actual actus the earning the money, and then doing something with it." #Money #Finance #Saving