With the monthly full money extra, I'm Chris Hill.

Beth Kobeliner is the author of The New York Times Best Seller, Make Your Kid a Money Genius,

even if you're not.

One of the things I like about this book is it includes practical tips for parents, as

well as some unconventional wisdom.

Like using cash, I know we're living in a world that is increasingly moving to digital

payments and I'm not suggesting that trend will or even should reverse.

But if you're a parent trying to pass on lessons about money, Beth makes a pretty compelling

case for every now and then, handing your kid a big wad of cash.

It might be a show that when you use plastic, you're basically or likely to spend twice

as much than when you use cash.

You use a debit card, credit card, plastic, it feels like big money and you spend twice

as much.

Also, if you give a kid cash, you give them $100, say for you can buy extra stuff for

school or whatever it is for clothes or whatever that budget is and they go to the cash register

and it's $101, they're going to have to put something back.

There's that experience of I don't have enough money.

Whereas if you give it, you hand over your debit card or credit card, even if you have

a good kid and you say, well don't spend more than $100, if it's $110, nobody's going

to say anything.

So it's important to give kids cash so the experience, the idea that money is a finite

thing and I think it really does give kids a grounding in literally the value of a dollar

...