Readers Share Tips for Raising Money Smart Kids

What's the right age for a child to have their own credit card? Opinions vary.

Photo of a boy and his father stacking coins
(Image credit: Getty Images)

Making kids and young adults money savvy appears to be much on the minds of readers, judging by responses I’ve received to my columns on kids and money (What Kids Need to Know About Finances) and building financial confidence among women (Financial Planning and Investing: Women Closing the Confidence Gap).

For instance, Ramin Hashemi writes that when his two daughters were young, “I had a deal with them to double their money from babysitting and refereeing soccer games if they invested it. I would deposit the funds into a brokerage account and buy fairly low-risk stocks they could relate to.” Now in their late twenties, his daughters are both teachers who are “on top of their income, spending, investments and retirement plans.”

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Janet Bodnar

Janet Bodnar is editor-at-large of Kiplinger's Personal Finance, a position she assumed after retiring as editor of the magazine after eight years at the helm. She is a nationally recognized expert on the subjects of women and money, children's and family finances, and financial literacy. She is the author of two books, Money Smart Women and Raising Money Smart Kids. As editor-at-large, she writes two popular columns for Kiplinger, "Money Smart Women" and "Living in Retirement." Bodnar is a graduate of St. Bonaventure University and is a member of its Board of Trustees. She received her master's degree from Columbia University, where she was also a Knight-Bagehot Fellow in Business and Economics Journalism.