The 15 Best Ways to Teach Your Kids About Money

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2. Divide and Conquer

Use a simple 80-10-10 plan to divide your kid’s allowance: 80 percent in spending, 10 percent in savings and 10 percent in sharing. It’s a great life model and helps them learn to divide money (but don’t let know they’re doing math). But putting money into a bank is just the first step. Learning how to spend it wisely takes a little more creativity.