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Earn, save, spend and donate - four habits children should learn

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There are four habits parents should be teaching children when it comes to money management, according to Dr Alice Wilder an internationally recognised children's education specialist. They are: earn, save, spend and donate.

These are the four concepts which Wilder, working with Prudential and Cartoon Network, has used in the making of Cha-Ching, a new cartoon aimed at helping parents build money-smart values in children aged seven to 12.

'Kids tend to do what they see us do as adults, and what they see us do most often is spending,' says Wilder, speaking at the launch of the television programme in Hong Kong.

'The really wonderful thing about having this multimedia platform is that it takes these more abstract non-visible parts of the money process - earn, save and donate - and makes them visible through the magic of media.

'One of the things about saving which really children don't see too much is that saving is so important and difficult because it involves self-control and this whole notion of delayed gratification.'

Each concept plays an important role in teaching children about money. 'The principles of earn, save, spend and donate show children they have choices with their money,' she says.

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