Parents' Guide

Money Matters

When should you start giving your child an allowance? That depends on your family values, but experts say children can't really make sense of the value of a dollar until about age 6 or 7. Whenever you decide your child is ready, here are some tips that will help your child become a good consumer:

As soon as your child can count (between ages 2 and 4) introduce her to the concept of money.
Play bank, store, or other games that involve money.
When an item is too expensive or when you're short on funds, explain why you're not buying.
Give your child a piggy bank and help her save for something special.

Let your child see how other cubs learned the value of a dollar by reading The Berenstain Bears' Trouble with Money. Regardless of when you decide to teach your child about money matters, remember that it's never too early to start investing for your child's future through a custodian account.

This site looks best when viewed with,
Netscape Navigator 3.0 and Internet Explorer 3.0 browsers.
Privacy Policy | Parents home | Kids@Random