Are you trying to teach your kids about money? You can try Barrack Obama and his wife’s tips on teaching children about money. Just like other parents, Obama and his wife also set rules for their kids. One of them is about money giving. In a magazine interview Obama and his wife Michelle revealed that one of their steadfast house rules is not giving Christmas or Birthday presents to their kids, Malia, 10, and Sasha, 7. “They spend ‘hundreds’ on birthday slumber parties and we want to teach some limits. Santa Claus is still permitted to deliver seasonal gifts however,” they said. The girls are also given an allowance of just $1 a week for performing household chores. Those chores include making their own bed, setting and clearing the dinner table, and putting themselves to bed by 8.30 pm. So, do you think it will work for your kids? Just try it with them!

Source: www.telegraph.co.uk, People magazine