How parents can teach kids about finances from an early age

Children should start learning about finances at an early age, and how parents teach them should depend on their age, according to a senior wealth advisor.

Paul Shelestowsky of Meridian Credit Union told CTV News Channel on Sunday that preparing kids early can help them navigate future financial challenges.

"Finances are one of the biggest stressors," Shelestowsky said. "The sooner the children can learn about these concepts, the more prepared they'll be to handle the stresses as well as develop some financial confidence."

While it can be difficult keeping a child's attention when they are aged five and younger, Shelestowsky recommends teaching in the form of games or other types of fun.

This can include playing "things like coin identification games and, when you go shopping, talking about the process of the purchases and then letting them help you find good deals," he explained.