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Teaching kids dollars and sense [Live video chat]

June 26, 2013|By Lisa Boone

A child’s impulse to instantly spend a monetary windfall from grandma is understandable.

But is it healthy? Even if he or she is just a kid?   

Youth financial literacy expert John Lanza says it's important for parents to create good habits now so children don’t have to break bad habits later. "Kids get the spend message as early as 2," Lanza said in an email. "Therefore, it's really important that they are exposed to equally powerful messages about sharing [charitable giving], saving and spending smart."

LIVE DISCUSSION: Join us at 11 a.m. Pacific time

So how can parents teach their children how to be fiscally responsible?

As part of The Times' weekly 4Moms live video chats, we chat with Lanza, creator of the "Money Mammals"  series of videos, books and games, about the importance of financial literacy, tips on how to set up an allowance and his "three-jar system" for saving. 

Lanza will also discuss teachable opportunities during the summer: How kids can save for vacation, family goal-setting and how kids can start a new business.

Log in to Spreecast to ask Lanza questions directly or leave your questions here. If you can’t catch the conversation live, you can come back to this page any time to see the archived video.

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