Parents need to teach their children how to save money. In Tuesday's edition of Connecting With Kids, NewsChannel5's Tonya Strong reports that it might be time for many parents to have a talk about money with their children. Learning how to manage money now, rather than later, is key, according to experts. It can not only help a young person save money, but it also reduces a lot of the stress that comes with too much credit and not a lot of cash.
Parents can pave the way in teaching children how to take responsibility for their money.
Two-thirds of college students have credit cards. Of those, more than 80 percent owe money month, after month, after month. But, he said, too many parents don't have that talk. Henderson is only 15, but already knows a lot about finance. He invented a gadget called a bike handler.