The Parent Report: Kids Need To Learn The Value Of A Dollar
BOSTON (CBS) - How can you get your kids to learn the value of money?
Podcast
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...
