Kevin O'Leary: How to Teach Kids About Investing

He said it’s also important to teach children that when they spend money, you “kill that money.”

“If it’s gone out of the bank, it can’t make more money from itself because it’s gone,” O”Leary said. “You put in into a pair of shoes, or you put it into a sweater or you bought some piece of crap you don’t need. You killed that money and it can’t grow for you. That’s the concept I wanted them to learn.”

For more videos and strategy, visit our video category.