Terms of Use:

Every day, consumers are learning new ways to get more value for their money. From different ways to pay-such as credit, debit or smart cards-to home banking and shopping over the Internet, people are realizing that they have more control over their money and more ways to use it. Parents and caregivers are uniquely positioned to teach kids the life skills, values and understanding they need to become smart consumers. The goal of this series of articles is to help parents and caregivers understand the whys and ways of personal finance and to provide them with tips, resources and activities designed to make it easier to talk to kids about money.

This article is broken down into 7 Success Principles:

1. Setting a good example

2. Teaching the basics about money

3. Teaching your children your values about money

4. Setting and managing a family budget

5. Reinforcing positive fiscal behavior

6. Teaching what interest is

7. Understanding how to create wealth