A regular newsletter designed to show you how to spend less for more.

Helping Kids Learn to Be Responsible and Handle Money It's never too early to teach kids to be fiscally responsible. How to be money-smart isn't a subject they'll cover in school. It has to be taught by kind, committed and patient parents. Here are some suggestions to introduce your kids to the concept of money management.

1) Model Good Behavior Show your kids what it's like to stick to a budget and avoid major credit card debt. When they see you looking for a bargain instead of buying on impulse, they'll get a picture of what it's like to be smart about money. 2) Star Reward System Young children don't really have a sense of money, but they do respond favorably to positive feedback. Set up a star reward system in your home and give stars for completed tasks and good behavior. Once your child has received a certain number of stars for cleaning their plates or making their bed, etc., give them a treat such as a special or favorite outing. It'll send a positive message of working toward a goal. 3) Don't Be Afraid to Say "No" Your kids will still love you even if you don't buy every toy or sweet treat they ask for. Sometimes a firm reply in the negative is just what they need to hear because it helps to draw the parent-child boundaries that ultimately make kids feel safe. And if done in a healthy and consistent manner, this can actually better your relationship with them. 4) Give Older Kids an Allowance for Household Chores Getting rewarded for household chores — whether its making their own beds or taking out the garbage — helps kids learn that money must be earned, not simply doled out from the cash machine. Set up a regular schedule and be clear about the chores. 5) Teach Save/Spend/Share Show your kids to divide their allowance money into three categories: "save" (put aside for a rainy day), "spend" (use for purchasing something special) and "share" (donate to charity). 6) Provide a Clothing Allowance When it's time for a back-to-school wardrobe, have your kids take charge of their clothing budget. Soon they will be shopping for bargains and finding the best ways to stretch their dollars. 7) Encourage Long-Term Goals You want to avoid instant gratification when it comes to money. Kids need encouragement and direction when it comes to saving up for something they are really excited to have. Once they have earned it on their own, their self-confidence will soar and they will develop self-discipline. 8) Encourage Independence When your kids are ready (and all kids are different), encourage them to take a more active role in the decisions that concern them. This way they can begin to experience independence gradually, in a safe way. As they begin to stand on their own two feet, the more money-smart and self-reliant they're likely to be. 9) Encourage Older Kids to Work Part-Time and During Vacations Kids will gain faith in themselves and money-smarts when they actually work for a wage. 10) Help Them Avoid Student Loans (And Years of Debt) There are many ways to save for a college education. If your kids live at home while going to school, they can save $7,000 a year. If they also buy used textbooks, work part-time, or take summer classes so that they can graduate early and get to a full-time job sooner, they will be able to cut costs further and hopefully avoid student loans. Being smart about money isn't something that comes naturally. Kids need a lot of direction when it comes to earning, saving, and spending wisely. And it takes time. Look around you at the adults that have never learned it. But raising smart, confident, responsible children into successful adults is the best thing you can do for your kids!