As a parent, you know that kids develop lasting habits from repetition.
We've all heard that old saying "practice makes perfect."
Actually, practice makes permanent.
If what you are practicing is wrong or doesn't work, then what result would you expect to get?
The key is to teach them a simple money management system that works and delivers results - one that is based on a proven wealth-building formula that will help your kids not just learn to manage money, but will also help them to achieve financial success.
(advertisement ahead; but, with interesting concepts)
The money management system behind the award-winning KidsWealth Money Kit is a wallet system that allows kids to separate their money into 5 "accounts" as follows:
+ 30% of their Kid's Pay goes in their WEALTH Account - this is their Investment account. Money is this account is never to be spent, only invested in various ways to grow their wealth
+ 20% goes in their PLAN Account - this is for your kids to be able to plan for and purchase more expensive items like a bike, game cube, Xbox or computer
+ 20% goes in their LEARN Account - your kids use this money to buy books, education toys and games, trips to museums, parks, zoos, travel or anything that is educational in nature
+ 20% goes in their FUN Account - this is your kids spending budget for the month for toys, games, movies,popcorn, snacks, or treats that they buy on their own with their own Fun money
+ 10% goes into their ANGEL Account- this is their charity account, money to be used every month to donate to charity, tithing at church or helping others in their community.
(advertisement portion ahead) The KidsWealth Money Kit comes with 5 wallets that are color coded so that even kids who are too young to read can use them. Since they are made from durable vinyl they will probably last until your kids are in college. See what else comes in the KidsWealth Money Kit at http://www.KidsWealthMoneyKit.com