With the cost of college on the rise plus an unstable debt load, the best thing parents can do is to set children up for financial success — and that can start as early as the kindergarten years. Gregg Murset, CEO of BusyKid, a chore app that provides kids with debit cards and financial education, believes the best way to avoid "digging yourself into a hole of debt" is by starting the saving process much earlier.
'm a big believer that kids learn best about money by doing stuff," he said. "They can read things, they can watch videos, but at the end of the day, they need that practical, visceral experience." "You got to start that money conversation very young and let them practice. And they not only have to practice earning the money by actually working, but they have to learn what I call a ‘balanced financial approach.