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NEW YORK (AP) - For Lori Mackey, the back-to-school shopping season is a time for teaching. While her children are busy selecting notebooks and new outfits for the first day of class, she's busy explaining to them the importance of comparison pricing and staying within a budget.
"You have families that can spend $1,000, and you have families that can spend $200," said Mackey, the founder of Prosperity4Kids Inc. in Agoura Hills, Calif., which specializes in financial education for children. "It really doesn't matter how much you've got — it's an ideal opportunity to teach kids the value of money."
It's an important lesson as families grapple with tighter budgets because of higher gasoline prices, the deteriorating housing market and credit problems that have raised the cost of borrowing.
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