St. Charles Herald-Guide

MONEYTALK with Al Suffrin

By Al Suffrin - March 28, 2007

Dear Mr. Suffrin: What should my kids know about money in order to become financially responsible? - Money in Montz

Dear Money: Here is a list of 10 things all kids need to know about money.

1. Kids need to be disciplined in saving and have delayed gratification in order to build financial security.

2. Kids should save money and get interest.

3. Always have and work towards a financial goal.

4. Begin a retirement and investment account now.

5. If you don't have the cash to pay for it, you can't afford it.

6. Money isn't everything and greed is not good.

7. Don't make money your goal. Money results from providing the right service.

8. Save at least 10 percent of each and every paycheck.

9. A sale in a store is not a sale if you can't afford it.

10. Earn some, save some, spend some.

Student and parent questions about finances answered - only in the St. Charles Herald-Guide. Financial expert and school board member Al Suffrin can help you make good decisions about your money. Send YOUR questions to: editor@heraldguide.com