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Help them make sense of why things cost what they do and how you earn money to pay for those things. Also set up an allowance system with your kids. Set up a clear method of earning that allowance though helping with chores and other household duties. By working for an allowance, kids learn the concepts of spending, earning and saving. You can help your children save and budget for things they would like to buy and even open a savings account together.

05/19/09 8

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