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Father’s Day 2008: Teaching Children About Money

"Any man can be a father, but it takes a special person to be a Dad." – Anonymous

Since we celebrated Father’s Day this past weekend, I thought it’d be fun to discuss how parents can help their children grow up to be financially responsible adults. Building on the ideas of Clark Howard, Dave Ramsey, listen to the show as I discuss four big questions about children and money:

  1. When should you begin teaching your children about money?

  2. Should you pay an allowance and how much?

  3. When should you consider opening a savings account for your children?

  4. How can you encourage investing in your household?

The news of Tim Russert passing away hit me pretty hard. I really enjoyed Tim on NBC and felt a special kinship with him after reading his book, Big Russ & Me, a few years ago. The book shares a lot about the unique relationship he had with his father and remains to this day one of my favorites.

Bonus link:

J.D. at GetRichSlowly gets real personal as he shares a poignant letter from his late father. Great stuff — check it out.

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