Gary Poster, with essential assists from Galyn Norwood, Phiroon Phihakendr, Jose Quijada, Pavandeep Kalra. Here's how you can get your child started.
Most kids are pros when it comes to spending money.
But managing money is another story. The American Savings Education Council, in its 1999 Youth and Money survey, found that two-thirds of high school students failed a test of basic economic principals. Concepts like stoc k ownership or the risks of investing in mutual funds befuddled a large proportion of students who took the test. Not all surveys of kids and money have been quite this grim, although it's clear that children need to increase their money knowledge. If the first place you think of is the schools, think again.