MINNEAPOLIS (WCCO) — Moms and dads are wearing many hats right now, including helping kids with online learning.

In a time when budgets may be stretched now could be a good time to teach your children about money.

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Financial advisor Nicole Middendorf suggests parents can use this time at home to educate their kids about needs versus wants, save versus spend and more.

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Middendorf suggests setting up a Family 401k. So if the kids want a trampoline, they contribute a dollar and you put in a dollar. Or they put in a dollar and you put in 25 cents, whatever works for your family’s budget. This teaches them what a 401k is all about.

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She is offering a free webinar, Kids and Cash, for kids to learn about finances. Click here for more.