How To Talk To Your Kids About Money

The current economic crisis has everyone on edge. It’s more important than ever to talk to your kids about money, and today,Dr. Phil gives you the tools you need to have that conversation.His first guests, Lora and Kris, say they want help because their 15-year-old daughter, Katy, loves to shop –-with their money –-and she doesn’t take care of the items she buys. She’s already on her second iPhone, second iPod and third laptop! Katy admits she’s a little spoiled but says every teenager wants nice things. Lora and Kris admit they have a hard time telling their daughter no. How will Katy do when asked to balance the family budget? Then, Dr. Phil leads a round table discussion about money with a group of fourth and fifth graders. Find out their reactions when they learn how many bags of groceries you could buy with the amount of money it costs for an iPod. Plus, financial expert Susan Beacham shares the dos and don’ts for teaching kids about money. Learn more about your ad choices. Visit podcastchoices.com/adchoices