PHILADELPHIA (KYW Newsradio) — With money comes responsibility, even for children. As kids receive cash in lieu of gifts this year, the holiday season is the perfect time to teach financial literacy to kids — no matter their age.
Stephanie Gambone, president and CEO of Junior Achievement of Southeastern Pennsylvania, says teaching the value of money early is important, because kids don’t really see cash transferred anymore.
“It’s like there’s just this money out there in the universe somewhere, and we’re, you know, we’re accessing it. And so I think we also, as adults, need to remember that young people’s view of money, literally, what they’re seeing, is very different than our own reality.”
So when kids are gifted cash this year, some may immediately start making plans to spend it. But Gambone says kids should divide money into three categories: Saving, spending and sharing.
“It really helps them think about balancing their …