When to teach financial literacy? Answer: Early

Today the Associated Press reports on the latest financial literacy research showing US teens lagging behind other countries.  In pointing to solutions, the news service notes that the earlier parents teach money skills, the better.

Key point:

Teaching kids good financial habits can begin when children are around 5 years old, or when they typically begin asking for an allowance, according to a guide for parents published by the National Endowment for Financial Education (NEFE), a nonprofit focused on financial literacy.