You teach them manners, how to tie their shoes, and how to ride a bike. But how can you really teach your kids the value of a dollar?
At Miami's eMerge conference in June, Suze Orman was asked the best way to help children learn about finances. The personal finance expert and former CNBC host says the answer is simple: Show, don't tell.
Demonstrate to your kids how to value money by valuing it yourself, she says. If you tell your children they have to work hard, save their cash and buy things only when they both need to and can afford to, you have to model that behavior, too. Otherwise the lessons won't stick.
If they see you buying brand new gadgets and brand new cars, they're going to follow your lead.
"Your kids don't do what you say. They do what you do," says Orman.