hi..

how old are your kids? maybe i can do the same with my kids telling them the expenses that we are paying off every month coming from the bills and other needs.

so that they will realize that running a household is not easy and would take a lot of budgeting to pay off for everything.

Thats a great way to do it Monty, sounds awesome.

one thing I've done is sit down with the kids and show them the actual finances of the house. Actually while the expenses that we have in a months time. I got out all of the bills, the bank statement and some receipts and then sat down at the kitchen table and went through all of them.

Also I started talking to him about the expenses that they would have when they move out on their own. Like rent their phone bill ,heating bills etc.

I was surprised that the kids had no idea of how much our household cost to run. One of the things I did was go to newspaper and had the kids looked through the houses for rent section. This give an idea of how much they would be paying for rent.

The probably have these days is that the kids live at home, they've got their own jobs, and they have no expenses, so they spend all their money on fun things and have no idea about the real serious costs of running a home

I think as young as they are, you should first teach them the manageable ways on how to deal with their personal finances. Simple things first. make them get used to purchasing those items that they are in most need of. Other unneeded items must be taken for granted because these will attract them to use their credit cards(if they have) more often. You can also ask them to apply for the best travel rewards Canada so they can have cash back cards that can give them more fringe benefits.

Hello, my name is Denise, 47 and a mom of five. I want to get my older teenagers, Christine (19) and Cherry (18) involved in managing their finances. Where do I start helping them build a personal finance that is noticeable, realistic, and interesting to young adults like my two teens?