11 Nov '11, 9pm

Commentary: Want money-savvy kids? Start teaching them from as young as preschool

In a four-part series, financial planning experts will be offering tips on the financial needs for each phase of a person's life. Today's piece will look at teaching children about money. Next week, the focus swings to helping youths, before turning to working adults and how they can allocate and manage their assets. Research suggests that children as young as three years old are able to comprehend the concept of money. By 12, they would have formed habits that will take them into adulthood. You might be surprised - "three years old?". Yes, like everyone else, kids learn best though play. Playing readily available games such as counting or sorting coins provides great opportunities to talk about what a dollar can buy and how every cent counts. Use life's everyday moments to teach kids about budgeting and about the concept of opportunity cost. Let me illustrate how I explai...

Full article: http://www.todayonline.com/Commentary/EDC111112-0000027/T...

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