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Lots of fuss has been made lately over celebrity kids and their luxury accoutrements—$850 designer handbags, private jets, $38,000 toy cars, personal butlers, personal stylists—but how much do kids actually understand about money? The Mirror asked a few pre-teens some basic questions about money, prices, and shopping—and the answers are pretty hilarious (and telling)—for example:
Q: How do grown-ups earn money?· How much do kids understand about what things cost? [Mirror]
Molly, age 7: You get it in shops. You give the shopkeeper money and they give you some back to buy more things with.
Q: What is a credit card for?
Molly: You scan the card and there’s a tiny hole where the money drops out.
Q: How much do you think the Prime Minister earns?
Aaron, age 9: He earns a lot of money because he looks after the environment and has to buy lots of trees and plants.
Q: How much money do you think the Queen has?
Aaron: Lots and lots – millions and hundreds. She spends it on royal necklaces.