Then the mail-man brings you a monthly bill. This bill has all of the things you bought during the month on it. You have to pay all or part of this bill. If you pay only part of the bill, you are charged interest. Interest means you are charged extra money for not paying all of the bill.
Some children learn to identify coins and their values long before they enter grade school.
They realize what cash can and cannot do for them. But school-aged children are often confused about the act of writing checks and charging purchases to a debit or credit card. Today's children learn about money in a very complex world. Children learn most of their attitudes about money from their parents, so a family's guidance and support is the key to helping children understand. Pre teens learn that their money supply is limited.