How Can You Get Your Kids To Learn The Value Of Money?
BOSTON (CBS) - How can you raise financially responsible children?
Loral Langemeier is the author of "Cash Machine for Life." She says parents need to assign a value to chores kids do around the house.
Langemeier says parents should establish a savings account, which she calls a wealth account, and then the kids set some goals, creating an incentive to save.
Langemeier says you need to have money days, maybe once a month, to share what you've learned with your children about money. And she says you need to start early...
Does this sound like a daunting task? Langmeir says you have to do it...
