Money Skills for Your Kids: Ages 4 to 9

moneywatch.bnet.com, Jul 15, 2009

Stephen Levine, of Washington, is 4 years old and hasn’t learned how to count. But he knows all about setting long-term financial goals. He and his parents put change into a milk carton, and when the coins reach the black marker line, Stephen knows he’s going to buy something — and it’s going to be good.

“It’s very elementary, but it’s not the end of his financial education. It’s the beginning,” says his mom, Laura Levine of the JumpStart Coalition for Financial Literacy, about her effort to teach her preschooler personal finance.

Parents and educators agree that kids start learning about money at an early age. So if you want your children to grow up financially savvy, start teaching them simple money lessons around age 4, and then gradually add to their knowledge as they get older. Read more...