Q: Do you think a child as young as three understands the budget?
A: No, but it doesn’t matter. You are teaching them a habit. Three-year-olds don’t understand oral hygiene. It doesn’t matter. You still teach them to brush their teeth.
Q: How do you figure out how much allowance a kid should get?
A: I pay them their age per week.
Q: Any other advice on teaching little ones about money?
A: Talk to kids about money. Make the world your classroom. Talk to them about how much things cost at the grocery store.
Q. That’s interesting. When I was growing up, we never talked about money in my family. I had no idea how much money my parents had.
A: For many of us growing up, it was always the biggest secret. Money is something we should be talking to our kids about.
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