Good way to teach kids about money?

Great to get started now!  So many parents didn't do this, and schools never did this.

Jobs that they are responsible for even not getting paid.

Teaching children that the order is earn, save, invest, spend...everyone does spend first for some odd reason.  And showing them each.

Praise always works best, as well as leading them by example (without letting them into too much of the adult world of course)

Here is a great primer 

 Also, if you can, find an organization in your community for junior entrepeneurs.  And please, if you get a chance, talk to their school, PTA, or community group about just an introductory course on household finances:  opening an account, simple taxes, paying bills, debt, credit cards, interest, minimum wage, job responsibilities and safety, resume writing, etc. 

You can get them to do some chores around the house and pay them allowance for it. You can ask them if there is something they want to save money for and then make them come up with ideas on how to raise the money(sell lemonade, walk dogs etc.). When you walk with them through the supermarket teach them about smart consuming and how one should organize his expenses.

I'm a retired banker......I can only tell you what I have done...I will say my children are good at earning, as well as saving $$$$...

I don't know the ages of your children....But when old enough to sign their name, they should have a bank account with your name on it also....Earned monies should be deposited...They should be aware of what they have and the growth....Around 15 - 16, I made sure they had checking accounts(also, with my name on in)... ..Along with an ATM card...I wanted them to learn how to keep track and balance....Also, pay their own when necessary......

Good Luck....................  

When me and my litle brother were young we wanted to make a lemonade stand to earn some money, and in the end my dad took money out  of our earnings for expenses. Lemonade, water, "table rental fee", ext. And i think it was a good lesson in buissness

check out Learn How To Raise Kids So They Don't End Up Broke

Make them earn what they want instead of just giving it to them.  Have them put a portion of their allownace in a bank account.  Drill into their little minds that materlistic things are not long lasting and fall by the wayside all too soon only to be left with huge debt.  And.....teach them real well about credit card debt and do not give them your credit card to use.....ever!!

One of the best ways to teach kids about money is to get on their level. As parents and adults , we are seen as so far from the breaches of reality that we couldnt possibly understand what or empathize.

When teaching kids about money , why not go to the experts? For example - Stephen Epstien at Dollar Camp SystemsHere is a snippet from a recent article he wrote...

Financial Education Video for Teens Offers Valuable Insight

There are many reasons you should show your teen a financial education video for teens. Among them is that you want to make sure that your teen has the best possible start in life. We, as parents, struggle to provide for them, care for them, and give them a solid sense of right and wrong when they head out into the world.

We teach our teens how to prepare a few meals, wash their own clothes, keep their floors and dishes clean, and check the oil and water in their vehicles because we want them safe and secure. Unfortunately, we often neglect to properly prepare them for their financial futures by teaching them to manage their personal finances, operate on a budget, or put money aside for rainy days.

We also make sure that our children and teens understand the basics about language, science, math, and other necessary school subjects. It is such a shame that so many parents neglect the equally important financial education of our children. We cannot expect them to succeed if we do not provide them with the tools that are necessary in order to do so.

Need information on financial literacy and other resources?

For many teens, those tools can be something as simple as watching a financial education video for teens. For others, something a little more hands on and involved, such as personal finance classes or lessons in student based budgeting, may be required. You know your teen best and it is up to you to make sure that they get the necessary education when it comes to financial matters.

Most Schools do not Teach Financial Education

While this is an important issue, the facts remain that most schools have a hands tied approach when it comes to curriculum. They are accountable for the information that is used on standardized tests and have little time, resources, or money left to devote to other subject matters, such as finance, that are important but not part of the college entrance requirements for students.

This places the burden of teaching your children about money on your shoulders. Sadly, most teens have forgotten that their parents are intelligent beings (something that they are not likely to remember until they have children of their own unfortunately) so they aren�?t inclined to listen to their parents. This is why videos are a solid choice for teaching this important lesson.

The one thing you want to avoid at all costs is having your teen learn about finances by making some of the following mistakes:

1) Drowning in Credit Card Debt 2) Swimming in Student Loan Repayments 3) Being pulled under by an inability to Manage Money 4) Not able to Keep their Heads Above Water and Stick to a Budget

These are all things that your teen should be equipped with the basic knowledge to avoid and yet so many leave their homes and go to college and immediately fall into these traps. If a simple financial education video for teens can prevent this from happening to your teen wouldn�?t it be a shame not to give them this incredible tool?