Raising A Money-Smart Child

Do you often tell your child, “You need to know the value of money?” Well, that becomes easier if you try to raise a money-smart child.

By Aruna Raghuram

The number one problem in today’s generation and economy is the lack of financial literacy - Alan Greenspan, American economist Anupama Menon is busy shopping at a departmental store. While she browses through the books section, her five-year-old son, Rahul sneaks into the toys and games area. He is excited to see several new toys. He quickly picks up an armful of toys and rushes to his mother. Anupama tells him he must choose two out of the eight he has picked. She explains to him that they cannot afford to buy so many toys. “But Mama, you can always go to the ATM and get more money,” asserts Rahul with a disappointed look.

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