What's the best way to teach kids about money? One parent helps develop good habits using online money management.
It wasn't until they each turned 13 and my wife was able to open student accounts for them at PayPal that we found a system that worked for us. Saturday mornings arrived with an announcement at breakfast: We're offering $20 for anyone who's willing to dust and vacuum the downstairs; better act now, because the price is dropping to $10 tomorrow. We'll pay $30 for someone to ..... And then they'd compete for the best-paying work.
When the job is done, I take out my phone, launch the PayPal app, and text or email them the money. It shows up in their accounts instantly.Read more at: http://mashable.com/2013/03/29/kids-money/