George Said:

Will you teach your kids about money the same way your parents did?

We Answered:

Yes. My parents taught us to pay tithing first. If we put money in savings, they doubled it. The rest was ours to spend. During highschool we had to keep an expense record for one month and talk about it. Once I started the expense record, I never quit. My dad based it on the personal finance merit badge in scouting, since he was a scout master. Anyway it taught me to be organized and I'm not very organized normally. I know where all my money goes. The only debt I've ever had is my house and my car.

Cecil Said:

When is a good age to teach kids about money?

We Answered:

when i was 4 i could go to the store for myself so 4 is a good age the names and everything go on google and search for money worksheets

Jamie Said:

Parents,do you teach your kids about money? How do you do it?is it hard?

We Answered:

Yes I do teach them about money and from a young age my children work hard and they've learned how to earn money and manage that they have. My 6 year old used to earn money by collecting cans and recyclables he actually used the money he collected to start his own t-shirt business, (he makes little pictures and drawings, he scans them into the computer and prints them on t-shirts.) he also saved up his money and paid for a trip to Disneyland.

Edgar Said:

does your childs elementary school teach kids about money?

We Answered:

In high school they may offer a home finance or personal finance course. They did at mine. It was half a regular semester and they did teach that stuff. How saving and checking account work. How credit cards work. The second half of the semester was for self-esteem BS. But you would be better off to start teaching your children earier than high school

Emma Said:

What is the best site that teaches kids about money & Business?

We Answered:

http://www.orangekids.com
This is a great site from ING Direct that teaches kids about money.

Becky Said:

1.How do I teach my kids about money?

We Answered:

It really depends how old your child is!

A 5 year old has little concept of money .. the difference between something that costs $10 vs something that costs $20 is very little....however, having said that, a simple visual display provides a starting point. ie I can buy bread, milk and eggs with $10 but I can only buy 1 teddy bear with $10.

However... by 7 - 8 they have a greater concept ... my 8 year old receives a small amount of pocket money and some money for birthday/xmas ... if he has a particular item he wants then he needs to contribute towards this by saving a small amount.

Start with pocket money, doing odd jobs for money and having to save/use this money for something they want!