By Kimberly Fusaro
To most children, real-life money is just as abstract as the pretty pastel bills that come with their board games: They know Mom and Dad control the cash, but they're not really sure who's funding the bank. So how can you teach kids the value of a buck? Smart spending habits are best learned when they're taught early and reinforced often, our experts say. You can't expect your kid to be cash-savvy if the first time he manages his own finances is when he's on his own at college. Below, four experts weigh in on the best ways to help your kids land on solid financial ground-and stay there.
Lesson 1: There's a Responsible Way to Spend and Save
You wouldn't hand your child a two-wheeler and let her figure it out on her own, right? When it comes to money, she needs some guidance as well. For every dollar that lands in her hands, insist she follow the 10/10/10/70 rule, suggests Lori Mackey, founder of Prosperity4Kids Inc, a company that aims to teach children to be Read More »from 5 Valuable Money Lessons for Kids