When I was growing up my parents taught me the value of money. Not by giving me money but by making me earn it. From a very young age (age 9) if I wanted to buy somethiong I had to earn the money to buy it. Having a paper route was the only way I could do that. My brothers and I delivered newspapers every morning for almost 6 years…until each of us was old enough to get a “real” job.

It’s never too early to start teaching children about money. Otherwise, until they start earning a living, it’s easy for kids to think that money, indeed, does “grow on trees”!

Even young children can understand the concept of money…exchanging a sum of money for something they want.¨

Consider giving children an allowance beginning in elementary school,teaching them how to split their “earnings” into three piggy banks or glass jars: savings, spending and sharing.¨

Teach them how to allocate money, such as 20% for savings, 10% for giving and the balance for spending.¨

Show your kids how to reach a savings goal…how saving X amount of their allowance each month will add up to the amount needed to buy a toy or new video game in a certain number of months