3 MYTHS! About Kids and Money

Found this good video from Babycenter.com by financial expert Jean Chatzky in which she talks about her top 3 myths about kids and money and they are..

1-You should save for your kids college before you save for your retirement.
    MYTH!
There is financial aid for your child's college, but not for your retirement. Save for retirement first, then college.

2- Older kids(13-19) shouldn't have to many financial responsibilities or have to work.
    MYTH!
Children in high school can work up to 15 hours a week without hurting their grades. Working and taking care of the money they earned teaches financial responsibility.

3- Kids get cheaper the more you have.
    MYTH!
Some things get cheaper, but big items like college or summer camps add up quickly in a large family. Take time to think about that when planning a family.

Question:
Do you have a MYTH! about kids and money you learned by being a parent?

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