Teach your kids to make the most of their money - WAFF-TV: News, Weather and Sports for Huntsville, AL

There's a subject in school your kids probably are not being taught, the basics of money.

But there's a new push to teach kids the virtues of finance while they are young.  

That's because financial experts are saying a major contributor to the financial crisis was people mismanaging their money.

Many people got involved in the game of "Keeping up with the Joneses" and got in over their heads with spending.

That's why experts are saying to teach it to your kids how to spend properly, and start while they are very young.

Children can understand basic money concepts as early as kindergarten.

"Keeping up with the Joneses doesn't just start when you're 25. It starts when you are 10, 8, 6. You see things and you want them and you don't understand why you can't have them, " says financial expert Farnoosh Torabi.

So how do you teach kids to make the most of their money?

You can show them the value of coins and dollars.

You can also, open a savings account for them when they turn five and let them watch you open it.

You can even use regular shopping trips to teach the difference between needs and wants, and how much things cost in comparison to what you can afford.

Financial experts say children start noticing the difference money makes as soon as they start school.

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