Make Learning About Money Child's Play

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Do your kids know the value of a dollar? In an age when parents whip out the plastic to pay for things, or the ATM seemingly spits money into your lap with no repercussions, it's hard to teach kids about managing money. But in today's economic times, it's important, and leading by example is, too. Before you even launch into a lecture about spending wisely, examine your own habits. As you withdraw money from that ATM, explain to your kids where it came from and that you earned it so they don't simply think anyone can get however much money they want. Try to pay for more items with cash instead of credit cards, and explain again to your children that you must earn money to pay for items that you charge. Most experts agree that age five is a good time for children to begin managing their own money. Attach a dollar value not only to their regular chores, but also to extra duties they can take on if they choose.