100 Words On: A Surefire Way to Teach Kids the Value of Money

One of the more difficult jobs any parent faces is teaching their kids the value of a dollar. Sadly, some kids never learn that money doesn’t grow on trees.

It may seem cruel, but parents who aren’t afraid to let their kids spend their money on ill-advised purchases — especially those with limited shelf lives — are actually doing them a favor. Experience is a terrific teacher and, with respect to personal finance, it’s better they err early when the impacts are relatively benign.

The bottom line: Those “wasted” dollars are money well spent — an invaluable investment in your kids’ personal finance education.

Photo Credit: klynslis