Learn how to teach your kids money management skills, financial responsibility and the value of money with the help of some great, useful tips for any family.
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Speaker: This segment is about teaching kids, money management skills. Speaker: These are our daughter's piggy banks; one that is really cool. This one here actually has a name engraved on it, it was a gift. We started it, and we'd emptied it twice now, and used it for different occasions; one was vacation and another one was, I don't remember. Speaker: Let's just say vacation. Speaker: Another vacation. Then she got another one for Christmas. It was a reindeer antlers on the pig. Then that one was full, so we said, well, let's get another one, let's just keep collecting and fill them up. Speaker: So what we do is, Una saves this; we basically go on vacation once a year, for maybe two weeks, and Una saves her money and puts it into these piggy banks, and then we dump it out, and then we put it in a bag, and we bring it to the supermarket; in that change thing, they count the change. Speaker: Mommy, look she is shaking her head. Speaker: Oh, she is saying yes, that's what we do. Speaker: And then Una gets that money in an envelope, and we tell Una when we are on vacation, that's her money, and she can buy whatever she wants with that money. We think it's a good idea because she sees herself working for it, and compiling money, and then it's up to her to budget it.