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Money and Finances
Reply to "Teaching kids financial basics in a zero interest rate environment"
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[quote=Anonymous]Depending on how old the kids are, the time value of money concept may be too complex to learn, especially given the amount of time they are kids and their financial decisions in those times. It's more effective to teach them budgeting - give an annual budget for clothing or something, and have them make their decisions. So if they spend it all on 1-2 items, That's it - that's all the clothes they will have. May want to have them invest in a stock or two too - that changes more than a savings account, and thus is more "exciting."[/quote]
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