Video on teaching kids about money:
http://www.cbsnews.com/videos/teaching-kids-about-money/


My parents have not ever given me an allowance but they have made me put money aside in a budget for collage. I have to put aside all money I get from events like my birthday, Christmas, etc. but if I earn my own money from a job I am allowed to spend half of my income the way that I want to. My parents also make me pay expenses for the things I want but don't need. They also make me pay for things I break but still need. For example when I broke my phone I had to buy a new phone with my own money instead of them buying me a new phone. The Savings module helped me understand the way banks work. It also helped me figure out the difference between interest, the fee someone pays to be able to borrow money, and compound interest, interest that is granted not only from the amount of money you put into an account but also from the interest you make on that money.