Kids need to learn money-management basics

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Kids need to learn money-management basics
Financial education is so important as a basic
life skill. If we teach children at a young age
about smart money practices, they will be
responsible with their money as adults. Parents
can teach their children the importance of
earning money by compensating them when they do
chores around the house. When children learn that
it takes work to earn money, they can appreciate
the value of money and be mindful of how they use
it. My children earn their money by doing
household chores, and they put aside money to
save and spend. Experts say that paying a small
amount, however infrequently, can work well for
teaching financial education for kids. It is
important to keep track of how your money is
going in and out. Parents can engage their
children in simple things to learn about saving
money.