What is money? Understanding the concept of money does not come naturally to a young child. Here are some tools a parent can use to help children understand this idea.

An allowance gives your child experience in money management. Choosing the right amount of allowance or deciding how often it should be paid will depend on how much you can afford and your child's age. The key is to set clear expectations right from the start, and decide together what best meets your needs. Test-drive The Allowance Room with your child to help establish an appropriate savings schedule.

Set ground rules about how you expect kids to handle their money. Help them to learn about the importance of savings, planned expenses and spending money.

Providing guidance along the way is the best way to teach your kids about money. Involve your child's imagination, let the learning happen naturally, and make the learning experience fun!

The CIBC SmartStart® Program
The SmartStart Program is specifically designed to educate your kids about money, and includes the following products and services:

• CIBC Premium Growth Account with Youth Benefits
• CIBC Save-Up GIC™
• CIBC Registered Education Savings Plan

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