Host: Why is it important to teach children about spending, saving, and charity?
Rene Hackney: It's important to teach children about spending and saving and charity because in the long run, those are lessons they are going to need to have. Many children, many families focus all on savings and then they get a child who doesn't really know about how to spend money or how to comparative shop, or how to plan a budget and so the idea is when a child is thinking, they are going to go spend their money, talk to them about how it is they want to spend their money, what it's about. Help them break down a budget and then help them to or list a shopping list and then teach them to work from that list. If they are only taught about savings, the spending may get out of hand really quickly. The idea of teaching about charity is that it's something that if it's part of their lives overall, they will continue to do it down the long run.