A family uses budget spreadsheets, checking accounts and other tools to help their children understand the value of money. The Pruett family of Bellingham, Wash., make a point of having constant talks about money with their children — something they started a few years ago by discussing the family budget. Like most parents, the Pruetts provide a weekly allowance to both children, with each getting an amount equal to half their age. But instead of doling out cash, they place the money in a checking account, which has the effect of ensuring it’s not spent right away. When the children don’t see the money, “it accumulates,” Alissa Pruett said. Read more below:
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