Lifestyle | children Millionaire Jr.: How to Teach Your Kids About Money Lesson 1: It doesn't grow on trees By Sophie Goldstein Posted Oct 4, 2007 3:34 PM CDT Copied (Index Stock (http://www.indexstock.com)) See 1 more photo Give your kids a head start in the real world with these tips from Zen Habits: Let them control a small portion of your budget, like $50 a month for eating out. Show them how to save for large purchases. Teach them to reduce expenses to reach goals faster. Teach them about investing with long-term goals. Work out a simple budget with them. Let them take responsibility for some expenses, including paying bills. Discuss the dangers of debt. Show how earning money can help reach goals faster. Discuss advertising and consumerism. Warn them about impulse buying. Read These Next Louisiana mayor convicted of raping her son's 16-year-old friend. A $220M ad campaign may have been Kristi Noem's downfall. California's 'Party Mom' hears her fate. Lily Allen's 'revenge dress' literally has the receipts. See 1 more photo Report an error