When should parents introduce the concept of money?
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Host: When should parents introduce the concept of money? Rene Hackney: It's suggested that the concept of money be introduced to children as young as three years old. There are lots of easy ways to do this, When children are young, you just include them in the money things, you are doing. So, when you pay for groceries at the grocery store, show them how much money you are giving. Show them how much money you are getting back. Teach them to start counting change. You can talk to them about what the difference from a penny to a nickel, to a dime is and start having them, make a certain amount of money out that change as they get that concept. It's suggested that you start teaching them as early as three to five years old, so that they can start to learn about money and learn to manage money as they grow.