Introducing money management skills to young people creates a generation of responsible spenders.
If your child has ever thrown a temper tantrum at the store when you refused to buy a candy bar, this guide is for you. By age seven, kids are already eager consumers and are becoming more interested in how much candy bars, games, movies and toys cost, but their idea of money management is begging you for it. Giving your child money whenever he or she asks creates poor money managers and impulse spenders, but introducing money management skills at a young age creates responsible spenders. Follow these tips to raise money-smart kids.