Savings

http://www.cbsnews.com/videos/teaching-kids-about-money/
My parents have taught me not to spend to much and save up on important stuff, not like candy. And they have taught me about sales tax. Sales tax is the percentage of what you purchase. They also have taught me about federal reserve, budget, income, and expenses. I don't have an allowance but when I mow the lawn or rake the lawn, I get money from that and I always save and put it in my savings account. The federal Reserve is the central bank of the united states. A budget is a plan on how you spend your money. Income is what you get when you have a job and your boss pays you and expenses is from buying a pack of gum from buying a car.