smart spending

5 tips for raising money-smart kids

Get them involved in family shopping
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Get them involved in family shopping

Rather than spend your shopping time saying "no" to everything your kids want to buy, let them get involved in the shopping. It's a good way to learn how much money is required for various everyday items and begin figuring out the importance of spending wisely.

A farmer's market is an ideal place to teach a family shopping lesson, says Cyndi Finkle, a mother and the blogger behind "Practical and Meaningful." "Send (your kids) to one section of the market with a list of fruits and vegetables that you want and give them $20 to spend," she says. "They will ask questions of the vendors, figure out how much of each thing they can get and start to understand the principles of money."

To put yourself in your children's shoes, think about how it feels to go to a new country and become accustomed to the value of a different currency, Finkle says. "After a couple of purchases, you start to understand and use it more freely."


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