Get them involved in how money is spent in real life.
"Neale Sheila Godfrey" is an United States/American author and creator of the topic of kids and money in the United States, with over 26 books on financial literacy, intended for both children and adults . Her work has received numerous literary awards.
Her most noted works are "Money Doesn't Grow on Trees: A Parent's Guide to Raising Financially Responsible Children", a New York Times #1 Best Seller, and "Neale S. Godfrey's Ultimate Kids' Money Book", Godfrey, Neale S., and Carolina Edwards. Each held in over 1000 WorldCat libraries. The later has been translated also into Chinese as , ????? : ??????????? (Qian, bu zhang zai shu shang : ru he shi ni de hai zi xue hui li cai); this title has also been translated into Japanese, and Korean. Four of her other books have been translated into Chinese as well, and two into German.
Neale S. Godfrey is an acknowledged expert on family and children’s finances who has been in the financial field for more than 30 years. Early in her career, Neale became one of the first female executives at The Chase Manhattan Bank. Later, she became the president of The First Women’s Bank and founder of The First Children’s Bank.
More Neale Godfrey on Wikipedia.They need to understand the responsibility that goes along with having access to a car.
The baby boomers have profoundly blown it. We were a generation of spenders. Over the last six years, more people have declared bankruptcy in the U.S. than have graduated from college. If we don't teach kids to save, we are doing them a great disservice.
Teach them as little ones the natural consequences of money. The only way to get it is to earn it.
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