Teaching Your Kids About Money: Many Money Lessons to Teach Your Kids by Baltazar Najarro

Author:Baltazar Najarro [Najarro, Baltazar]
Language: eng
Format: epub, pdf
Published: 2020-06-17T18:30:00+00:00

Goods vs. services

Needs vs. wants

Short-term vs. long-term goals

Goods vs. services

Money isn’t always spent on physical items (goods); sometimes it’s spent in return for another’s efforts (services), and it’s important for children to understand the distinction. With more abstract goods and services made for the information age, such as apps and streaming services, the line between the two may blur. Use your child’s passions to illustrate the difference: If your child loves games, explain that the game itself is a good, while the developers that made it provided a service.

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