Young children need to develop good habits that will be useful to them the rest of their lives. It is important to keep the lessons age-appropriate. For example, when your children start earning allowances, that would be a good time to teach them how to put some money in the bank instead of spending it all.

Each time you go to the grocery store with your kids, it is a potential learning opportunity. In order not to overemphasize materialism, focus on other things to do with money. In 'Beyond the Lemonade Stand,' I try to emphasize the importance of saving money, and of using it to help other people.

Teaching money management is a practical tool that will help shape kids' futures.

Bill Rancic Quotes