When your children reach a certain age you want to teach them to handle their own money, how to save it, how to spend it... wisely, etc.

Here's some good ways to teach your kids personal finances...

Nothing will teach your kid to cherish money like getting a job!

Once they have a job and are working for their money they will realize how difficult it is to come by, and they should be less willing to blow it on useless junk!

Of course, there are more ways than just getting a job...

Visa now offers a great DEBIT card for teens! It's called the Visa Buxx card.

The Visa Buxx card allows parents to add money to the card and the child gets to spend it while the parent monitors the spending online or over the phone. Your child can also access the account. This way YOU set the spending limit and they have to manage their spending well enough to make it last.

I suggest giving them say, $40.00 a week or so and that's it. Have them buy their own food and anything else they may want. See how fast it goes the first week and how long it last the second week!

The Visa Buxx card is a great way to help your kids learn to watch their spending, check it out at www.VISA.com.

Most banks these days require students to be 18 or older to obtain their own bank account, but I have found that Bank of America offers a checking/savings account to students as young as 16! You can usually get your child a starter bank account at your bank, but if they overdraw it's on you and the funds will come out of your account!

If you allow them to open their own bank account at Bank of America they are fully responsible! This means that if they go on a spending spree or bounce a check it's all on them! This may sound kind of mean, BUT think about it... The first time they have to pay a $35.00 overdraft fee they probably won't do it again!

This is probably the second best way to teach your kids personal finances!

Well, these tips should help you teach your children personal finances. I think the best way is to let them obtain there own bank account from Bank of America, this way as I said they are responsible for overdraft fees!

I'm not sure what the policy is on the Visa Buxx card, it's a debit card so you probably can't overdraw it, but I don't know for sure.

And then of course a job is probably the best way!

A job combined with a Bank of America account will definitely teach them to manage their dough!