We’re struggling to get out of a recession, caused in part by borrowing way too much. So, if grown-ups can’t manage their money – how should we expect kids to?
Many financial experts say that children aren’t learning the right lessons about how to handle their money. Here’s an example: A recent study finds that today’s parents are “incredibly lenient” about handing their children extra money – you know, that 20 dollars to go see a movie, over and above their allowance.
It seems that kids are learning more about immediate gratification than budgeting their dollars, or having any sort of financial discipline. And it’s hard for a parent who’s racked up thousands in credit card bills to make a case for living within one’s means.
Today we tackle financial literacy for kids. We’ll talk with experts in the field – and get your take - to find out what works, and what doesn't.