Whether you get an allowance, earn money for doing chores or score some cash in your birthday cards, it's a good idea to learn how to use your money wisely. When I was old enough to start earning an allowance, my parents encouraged me to save money rather than spend it right away. They even took me to the bank to open a savings account once I had saved enough money for the required minimum balance. I didn't put all my money into savings, but when I did spend money, it was only on things I really wanted. Saving money for a special toy or electronic gadget made me enjoy the reward even more than if I had received it as a gift.
Want to develop your own money skills? The Mint, www.themint.org, offers great tips for kids on earning, saving, giving and spending money. There’s also a section for teens that explains topics like investing, owing and safeguarding money. Curious how other kids handle their money? The Money section of PBS Kids’ It’s My Life, http://pbskids.org/itsmylife/money, has helpful articles on managing money and tips from other kids in You Said It.
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