How many times have you heard, "But I promise I'll take care of it!"?

It's right up there with "It's in the mail" and "I'm from the government and I'm here to help." Kids usually mean it when they say they'll take care of a pet, but they often don't understand what exactly it entails. The good news is that having a pet can teach your kids lessons that few other experiences can. Not only can Junior learn about responsibility and compassion with a dog or a cat, but he can also pick up some important lessons in money management.

The lessons depend a lot on how old your child is. A pre-schooler can't be expected to really take care of a pet. Playing with them is about as much as they can handle. But much can be learned from just that. At this age they can be taught how to be gentle and respectful of animals. Hitting or pulling on ears and tails is a no-no. When you go to the store to buy the dog food, let your child pay for it at the register. He will begin to understand that caring for Rex costs money and he'll feel like a big boy because he's responsible for paying for something.

Grade-school aged children, with your help, can be in charge of feeding and watering their pets. Sometimes they may forget, but a gentle "Rex really depends on you" will usually do the trick. At this age they can also help with the grooming. Bath time can be especially fun for kids with this being a good excuse to get wet in the backyard. Now might be a good time to talk to your kids about comparison shopping when you buy pet food. Also, suggest to them that they put aside a certain amount of their allowance each week to share with their pets. It can be used for a new toy or doggie treats or a new collar.

Kids over 10 can be almost totally responsible for the care of their pets. By now they're learning that someone else depends on them the way that they depend on you. Dogs and cats will know secrets your child will never share with you and see tears you never knew existed. This is the time most adults say they have the fondest memories of their childhood pets. Now too is a good time to share more grown-up things with your kids. How much does the vet cost? What does spay and neuter mean?

Making a pet care budget that your kids are in charge of will introduce them to saving and spending wisely. Buy a small notebook and let your kids decorate it with pictures of your pets. Give them a certain amount to spend each week and keep it in a special place. Out of this money will come your pet's food and treats. Also, if you know that a big expenditure is needed, like a new pet carrier or a kennel visit, start saving for it ahead of time and keep track of that in the notebook too. At the end of each week, "settle" the accounts and at the end of each month if there's money left over use it to splurge on Rex a bit with a new toy.

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