The Five Rules of Money for Children

Teaching young people these essential concepts now can help them make smarter financial choices as they grow up

It's never too early to start teaching your kids about money. Toddlers can be introduced to the value of money using toy piggy banks and cash registers, while older kids can learn to manage cash and pretend to be real estate moguls by playing Monopoly. To get a taste of trading stocks and mutual funds, there are online games and contests, as well as investment clubs. And more importantly, high schools and colleges around the country are now offering personal finance courses, with some making the class a requirement before graduation (see BusinessWeek.com, 3/7/07, "Finance Courses Get Personal").

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