Laying the Groundwork for Financial Responsibility at an Early Age
Parents need to begin laying out the ground work for their children at an early age so that their children will know and understand the true value of money and how to be responsible with it. In fact, this can be done a little at a time so that they are not overwhelmed with the idea.
Between the ages of two and five, parents should begin identifying with their children the different coins and their value. Between the ages of six and eleven, parents should begin to help their children with figuring out the right amount of change to given back from a simple purchase.