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What are the most important lessons to teach children about money management?
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1. Develop a budget and stick to it.
2. Understand the difference between needs and wants.
3. Start saving early to reach long-term financial goals.
4. Learn how to invest money wisely.
5. Know the importance of monitoring credit.
6. Make saving a priority, even in uncertain times.
7. Avoid borrowing money if it is not absolutely necessary.
8. Save a portion of all income, not just the extra.
9. Understand the implications of different kinds of debt.
10. Be mindful of interest rates when making financial decisions.