 TITLE: How to Teach Your Kids About Money and Credit CONTENT: How to Teach Your Kids to Be Smart With Money\n---------------------------------------------\nAs you raise a kid, you'll have many opportunities to teach them smart money habits. The right strategy and level of sophistication will depend on their age, but to start, stay mindful of real-world experiences that can lead to teaching moments.\nFor instance, perhaps your child wants a pet. Along with discussing the responsibilities and lifestyle changes that come with having a pet, brainstorm with your child what it would cost. Make a list of line items for the family budget, such as food, toys and veterinarian visits, and add up what those could cost per month, and how they fit into your budget. Talk about how your child could perhaps save up money to buy the pet a new toy. This can help your child understand that planning and budgeting are important elements of money management, but that it's also OK to spend money on things you enjoy. If money's tight and a pet would cause you to live beyond your means, understanding the money factor in your decision to say no could soften the blow.\nTalking to your kids about money is especially important as they get older and have a stronger understanding of concepts like debt, taxes and investing as they start working and saving. You can move from broad discussions as they come up in everyday life to more specific conversations about the cost of car ownership, college, how to budget while at school and how to minimize student loan debt. END