07/23/2010 11:35 am ET | Updated May 25, 2011

Malia & Sasha's Babysitters Club? Obama Says First Daughters Almost Old Enough To Babysit

There may soon be two additions to the babysitters club! In an interview with ABC News, President Obama said that Sasha, 9, and Malia, 12, are almost ready to watch other kids.

When asked what he and Michelle are teaching his daughters about money, Obama responded, "You know, it's a great question. What I'm doing they're getting an allowance. They're starting to get old enough where they may be able earn some money babysitting. They've got their own savings accounts." He added, "What I'm trying to explain to them are basic concepts about savings, about interest. If they keep a hundred dollars in their bank account at 2 or 3 percent interest for six months, this is how much money they're going to have at the end of it."