Kids and Money

Here's how to teach your children the value of money, establish an allowance system and get them to save.

A family money-management plan with any hope of success will have to include the kids -- which is easier said than done. You can teach your 4-year-old to close the front door, but you can't expect him to understand that you don't want to pay for air-conditioning the whole neighborhood. A teenager, on the other hand, should understand that and more.

Lessons in financial responsibility must take into account a child's age and level of maturity, but there are general guidelines you can follow.

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