Financial planner urges parents to teach kids about money

KNOXVILLE (WATE) - Certified Financial Planner John Fawaz says parents should teach their children about money and how to use it wisely.

Fawaz said Tuesday on Good Morning Tennessee that many banks and credit unions can help. They offer special savings programs designed for kids and often pay higher interest rates on those accounts.

One way parents can encourage their children to set aside money in a savings account is to agree to match what is saved.

Money games can also help children see the value of saving and spending wisely.