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Introduction

The life-long benefits of teaching children good money habits make it well worth the effort. Children who are not taught these lessons pay the consequences for a life-time. Some parents don’t teach children about money because they think they shouldn’t talk about money with children, don’t have the time, or think they don’t have enough money. Parents should take the time to teach children about money regardless of income and should start when children are young. This publication presents some helpful guidelines and suggestions parents may follow. It provides general background and outlines by age group and stage of development. It adresses children’s understanding and use of money as well as conflicts about money. It also identifies activities you can use to teach your child about money.