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By Kathy M. Kristoff
The recession is a perfect time to give children hands-on
training about how to manage money, and parents are now using this
opportunity to teach their children not only about budgeting, but
also about investing. Since the parents themselves are making changes,
they are more likely to use the recession as a catalyst to talk about
money with their children, according to a recent survey by T.Rowe
Price Group Inc. Experts agree that this is an ideal time to introduce
these concepts to kids~ it’s a “teachable moment”~
but parents seem to be at a loss about just exactly WHAT to teach,
thinking they are not qualified, when in fact kids learn most of their
money lessons from their parents~ whether or not it is talked about.
Some explicit ways to help children get “money savvy”
include the following:
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