Teaching kids about money isn’t rocket science, says ING DIRECT, which has launched an interactive spaceship-themed online game for kids that teaches the basics of investing, inflation, budgeting, credit, saving and so on. Geared toward kids from grades one to six, the main concept of the game is compounding interest. Prizes of up to $250 will be awarded to select kids who can beat all four levels of the game.
Some other tips for teaching your kids about money include taking your kids to a garage sale or thrift store to instill the great feeling of finding a treasure and a deal at the same time and going to a farmer’s market to introduce your kids to fresh produce at fair prices.
You could also start a vegetable garden and teach your kids responsibility by watering and weeding, and showing them that hard work can equal saved money.