When's a good time to teach kids about money? That's a good question. ABC 7 of Los Angeles posted a video offering tips on the best approach for teaching your children the basics of money.
First off, 1st grade is a good time to start teaching. Explain things in simple terms. Kids love coins, and vending machines are another great way to teach young kids about money. They quickly learn it takes three quarters to get one bag of M&M's.
One important thing to keep in mind is parents need to make sure it's the kids' money that is being spent.
To watch the video, click here.
