Teaching kids the value of a dollar - WFLA News Channel 8

Teaching kids the value of a dollar

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TAMPA, FL (WFLA) -

If you're a parent, one of the hardest jobs can be teaching kids about money. How do you instill the importance of earning and saving?

Money expert Gary Marriage of Nature Coast Financial Advisors in Crystal River says, "The earlier parents can start teaching their kids about money, and the value of money, the better off they're going to be in the future."
With most adults using plastic to pay for things, it's hard to explain to children how money really works. "They see their parents to go the ATM and they draw money out, so they think that's where parents get money, is through an ATM" says Marriage.
Marriage likes the idea of having children open their own bank account where they physically deposit and withdraw money.
He is also a fan of giving children allowances they have to earn. "Allowances, I think, are good for doing different things around the house. It starts getting into their head. I've even instructed some parents to pay their kids every two weeks. Because 90% of the jobs out there pay every two weeks."
   

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