Adults know they need to save money for that proverbial “rainy day,” but how do you teach a child that saving money is a good idea? Whether they are saving up for a new toy or a long-term goal, it’s important to teach them the skills needed to achieve that goal. Needs vs. Wants A good first step is to teach your child the difference between needs and wants, because otherwise it is the foundation of good money skills. Needs: Explain to your...