Credit Counselling Canada

Credit Counselling Canada

May 24, 2006 16:45 ET

Credit Counselling Canada: Kid-Friendly Money Tips

CALGARY, ALBERTA--(CCNMatthews - May 24, 2006) -

Public Service Announcement
Air Dates: May 24, 2006
Length: 60 seconds

It's never too early - or too late - to start teaching your kids about money. Earning an allowance, buying treats and saving for something special, are all part of learning good money management skills. From an early age, children can begin to understand the value of money and how to manage it - knowledge that will help them as they get older!

Kids don't need to earn big allowances to learn about money. In fact, the amount should fit within your own family budget. Teaching kids about money can be fun. Here are a few ideas to get you started:

- Develop pretend games where kids use money to buy things.

- Teach your kids how to count coins and what each coin is worth.

- Give them opportunities to earn extra money by doing extra jobs around the house.

- Help them learn what things really cost by relating it to their earnings. For example, if they want a pair of $80 jeans, let them know how many weeks they will need to save their allowance to make the purchase.

- Open a bank account for your kids so they learn about depositing money before spending it. Better yet, they can begin to understand saving.

For more kid-friendly money tips, visit Credit Counselling Canada at to locate the non-profit member agency nearest you. Members provide consumers with confidential counselling, debt management and education programs.

Contact Information

  • Credit Counselling Canada
    Scott Hannah
    British Columbia
    (604) 527-8999 (ext. 211)
    Credit Counselling Canada
    Diane Rennie
    (403) 234-6184
    Credit Counselling Canada
    Laurie Campbell
    Central Canada
    (416) 228-2526
    Credit Counselling Canada
    John Eisner
    Atlantic Canada
    (506) 633-3990