teaching kids about money Quotes

The White House has now put together a website for kids. It's a website to teach kids how to manage a budget responsibly. The website is called ' Irony.gov. '

[My grandkids] are 5, 10, and 15. While they're young and still at home, I think it's all about learning the value of money.

The best time to start giving your children money is when they will no longer eat it. Basically, when they don't put it in their mouths, they can start putting it in their bank.

We teach children to save their money. As an attempt to counteract thoughtless and selfish expenditure, that has value. But it is not positive; it does not lead the child into the safe and useful avenues of self-expression or self-expenditure. To teach a child to invest and use is better than to teach him to save.

I guess the closest I came was doing chores around the house to earn pocket money. My brother and I would have to do the washing up, cleaning around the house, walking my grandparents' dog, lots of things. We didn't get a huge amount but it was always enough to be able to walk down to the local shops and get some sweets.

I can remember riding in the car with [my daughter] Amelia, when she was very small, and we'd talk about money the same way we'd talk about sparkly shoes or what had happened at school.

All three [of my grandkids] earn money around the house, and all three spend their own money. Now I've noticed that when they have to spend their own money on birthday cards, they have decided that homemade cards are so much nicer.

Never allow a child to spend all of his allowance. Insist that he set aside a certain amount of money every week and put it in a safe place, where you can get it if you need to buy beer.