http://www.cbsnews.com/videos/teaching-kids-about-money/


To teach me about financial literacy, my parents just taught me how to save money. If I wanted something that I didn't need, I would have to save up and pay for it. They taught me how to save up, however I did not know things like interest, interest rate, Federal Reserve, budget, and APR. I learned that interest is the fee someone pays in order to borrow money. Also interest rate is the amount of interest  you make or pay. The Federal Reserve is the central bank of our country. Budget is how you plan to spend the money you make. APR is just another name for the interest rate charged on the balance of a credit card.