The best way parents can teach their children about money is by first explaining what money is and what it does.
While you may appreciate the value of teaching your kids to manage their money responsibly, you may not be quite sure of when that discussion should start or what it should entail.
One important lesson you may want to teach your kids about money management is how to save.
Help your children manage a first paycheck with these tips.
Give your kids an allowance in a denomination (dollar bills, quarters) that allows them to easily split it up into savings, spending, etc.