Teaching Kids About Money By Example

How do you teach kids about money? Every time I think I have the whole chore/allowance issue worked out, circumstances change. My kids' levels of maturity and their needs for money are constantly changing too. I know people have these great methods for educating kids about responsible fiscal habits (and don't we need that!), but I've resigned myself to teaching by example. That, and whatever convenient teachable moment comes along.

My way may be working. My daughter once walked into the Halloween pumpkin carving at school and asked if the craft supplies were free. She is constantly asking how much things cost, keeps track of all her money, and frequently makes deposits to her bank account. My son knows the price of what's important in his world: Bionicles and Nintendo DS games. And he is acutely aware of recent increases.

Next lesson: How the price of crude oil prices affects toy price tags. Oh the joy.

Maybe I should just go to the Moneywise ELearning tool from Capital One. If you want to learn more about how parents handle the money topic, check out Parent Bloggers this weekend or read my article, How to Teach Kids About Money.