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Financial Fitness Zone: How to teach your kids about money

Posted at 6:49 AM, Jul 22, 2016

As summer break winds down, students are getting ready to head back to class. But parents, we’ve got some advice on ways to teach your kids about money.

A lot of companies and websites offer lessons on finances for kids for free but we found this one on www.moneyconfidentkids.com.

It's a 30-day plan: one month to make your kids scholars of dollars and cents.

For example:

Day 1 – Create a grocery budget with your kids so that they know how much their meals and snacks actually cost.

Day 8 – Visit the bank. The tellers and managers would be happy to talk about the importance of managing money.

Day 14 – Practice money vocabulary with words like interest, loan, inflation and even taxes.

Day 23 – Go to a sporting event and take enough money to get a little something to eat and maybe a souvenir. But let the kids decide how to split up the cash.

Day 30 – Go online shopping to teach them that digital money is still money and digital debt is still debt.
This is a great time to teach kids about being responsible even when the world is seemingly at their fingertips.