Money Tools For Your Kids

It's a challenge for just about any parent to teach their kids how to handle money.{} Fortunately, there's no shortage of tools to help them get the job done.{} MSN Money has 6 ways to help children and teens deal with finances while keeping them on a short leash.{} Here are a few of them:

  • UPside card.{} Many parents like to pay their kids an allowance with a prepaid card... and the UPside Clear Card is specifically aimed at teenagers.{} The card is a great way to test the prepaid card waters.{}
  • SmartyPig is essentially an online piggy bank that helps you save money for short and long term goals.{}{} Mom or dad can open a savings account, and then invite their child to be co-owner, and add money anytime.{} The accounts are FDIC insured and pay an interest rate of three percent.
  • is an online credit card simulator, where you can calculate the real cost of a purchase when interest charges are added in.{} It's always an eye-opener to learn that 500 dollar camera will cost a lot more after that low interest introductory rate jumps dramatically after only a few months and you're making just the minimum payments.

These are great{} tools for your kids to learn about how to handle money.{} And you'll notice they'll also help their parents learn a lesson or two about their finances.{}

Go here for the rest of the six great money tools for your kids.