← 4 Tips for Raising Money-Smart Children

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By Anslem Samuel | Published January 24, 2011 | Full size is 500 × 320 pixels

START EARLY: “The earlier you start, the more moneywise children you’ll have,” says Seymour. As early as age five, use play money like Monopoly so that they understand that purchases require an exchange at a certain value. Show them how to sort coins and teach them their value. Share utility bills to show them the direct impact of their behavior, such as leaving lights on or running water when it’s not in use. Use the grocery store as a learning tool. Make a grocery list and get kids to cut and organize coupons with you, review the weekly store circular for savings.

START EARLY: “The earlier you start, the more moneywise children you’ll have,” says…