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 11 people hurt in a "brutal act of violence" in Michigan. We knew Letterman would pipe up about Colbert eventually. A parent's nightmare, in a white cardboard box. Now we know why Ghislaine Maxwell may have opened up to the DOJ. See 1 more photo Report an error