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Teaching your kids about money
Posted: Thu Aug 13, 2020 7:58 pm
by star-little
Children as young as three years old can grasp financial concepts like money management. The sooner parents start taking advantage of everyday teachable money moments, the better off our kids will be. Start with the function of money:
Lesson for kids:
- Playing a matching game to help them identify different coins.
- Teach them the value of coins and encourage them to save their coins in a piggy bank.
- Playing store or restaurant with pretend money
- Play money games that encourage learning. Board games, online games, and homemade games are all possibilities.
PickyBank.jpg
Re: Teaching your kids about money
Posted: Thu Dec 31, 2020 10:16 pm
by AmberP
I'm really glad I found this discussion. I bought my older son a book called "A Dog Called Money", he really liked it. I think I'm going to spend more time on it in the new year.
Re: Teaching your kids about money
Posted: Tue Feb 16, 2021 7:29 pm
by AureaRea
I do this to my child as well!! My daughter has a toy cashier at home and she loves learning more about money. Gladly, she gives me the right amount of change when I buy from her grocery. In real life, she also enjoys saving up on her piggy bank. When we go to malls, I also tell her that she can't buy everything that she wants because money needs to be worked hard for and that it is important to save. I'm glad she understands it and that she's not the type to throw tantrums when not getting what she wants.
Re: Teaching your kids about money
Posted: Thu May 12, 2022 7:28 pm
by Nandy84
It is very much essential to teach the kids about money. Because having the concept of money will help them to value the money that they earn.
The concept of money will also help them to secure in the knowledge that they are financially stable. And slowly they will understand the importance of money and that will help them to engage themselves in a positive way to earn money.
As children grow and start to make choices, they learn that people, things, and money have value. These concepts form the foundation for understanding the importance of spending, sharing, and saving.
That is why every child should have the basic knowledge and the concept of money which should be increased and modified with the increasing age and time.
Thanks
Nandita
Re: Teaching your kids about money
Posted: Tue Jun 20, 2023 5:54 pm
by dianecosgrove
Nandy84 wrote: ↑Thu May 12, 2022 7:28 pm
It is very much essential to teach the kids about money. Because having the concept of money will help them to value the money that they earn.
The concept of money will also help them to secure in the knowledge that they are financially stable. And slowly they will understand the importance of money and that will help them to engage themselves in a positive way to earn money.
As children grow and start to make choices, they learn that people, things, and money have value.
This link teaches ways for online casino instant withdrawal and no deposit sites. These concepts form the foundation for understanding the importance of spending, sharing, and saving.
That is why every child should have the basic knowledge and the concept of money which should be increased and modified with the increasing age and time.
Thanks
Nandita
Uhm, I think a little bit differently. While teaching kids about money can be valuable, it should not be the sole focus:) I mean children should be encouraged to explore only diverse interests, develop skills beyond finances, and learn important values like empathy and compassion. While some understanding of money is essential, it should be balanced with other life skills for their holistic development. It is not the most critical at all of education that we should give them. Contrariwise, it is a sensitive topic and side of education, so teaching about money should occur just when under 18, when they aren't children...
Cheers,
Diane
Re: Teaching your kids about money
Posted: Thu Aug 17, 2023 6:01 am
by MichaelPowell
dianecosgrove wrote: ↑Tue Jun 20, 2023 5:54 pm
Nandy84 wrote: ↑Thu May 12, 2022 7:28 pm
It is very much essential to teach the kids about money. Because having the concept of money will help them to value the money that they earn.
The concept of money will also help them to secure in the knowledge that they are financially stable. And slowly they will understand the importance of money and that will help them to engage themselves in a positive way to earn money.
As children grow and start to make choices, they learn that people, things, and money have value. This link teaches ways for online casino instant withdrawal and no deposit sites. These concepts form the foundation for understanding the importance of spending, sharing, and saving.
That is why every child should have the basic knowledge and the concept of money which should be increased and modified with the increasing age and time.
Thanks
Nandita
You bring up an excellent point! While teaching children about money is valuable, it shouldn't be the sole focus of their education. Encouraging them to explore diverse interests, develop skills beyond finances, and learn important values like empathy and compassion are crucial for their holistic development.
It's essential to strike a balance between teaching children about money and providing them with a well-rounded education. Money management skills are undoubtedly important, but they should be taught in conjunction with other life skills that will help them thrive in various aspects of life.
Teaching children about money can occur gradually as they grow older and reach an appropriate age, such as under 18. This allows for a better understanding of the complexities of finance and the responsibility that comes with it.
Re: Teaching your kids about money
Posted: Fri Aug 25, 2023 9:31 pm
by stokehold
dianecosgrove wrote: ↑Tue Jun 20, 2023 5:54 pm
Nandy84 wrote: ↑Thu May 12, 2022 7:28 pm
It is very much essential to teach the kids about money. Because having the concept of money will help them to value the money that they earn.
The concept of money will also help them to secure in the knowledge that they are financially stable. And slowly they will understand the importance of money and that will help them to engage themselves in a positive way to earn money.
As children grow and start to make choices, they learn that people, things, and money have value. Pin Up
https://pinupbetting1.in/ teaches ways for online casino instant withdrawal and no deposit sites. These concepts form the foundation for understanding the importance of spending, sharing, and saving.
That is why every child should have the basic knowledge and the concept of money which should be increased and modified with the increasing age and time.
Thanks
Nandita
Uhm, I think a little bit differently. While teaching kids about money can be valuable, it should not be the sole focus:) I mean children should be encouraged to explore only diverse interests, develop skills beyond finances, and learn important values like empathy and compassion. While some understanding of money is essential, it should be balanced with other life skills for their holistic development. It is not the most critical at all of education that we should give them. Contrariwise, it is a sensitive topic and side of education, so teaching about money should occur just when under 18, when they aren't children...
Cheers,
Diane
Absolutely, teaching kids about money from an early age is important. Here are three simple steps to get you started:
Show and Explain: Begin by showing your kids different coins and bills. Explain their values and what they can buy. For example, you can show them that a dollar bill can buy a small toy or a snack. Make it relatable to their interests.
Saving and Spending Jars: Get three jars or containers labeled "Saving," "Spending," and "Sharing." Whenever your kids receive money, whether it's from an allowance, gifts, or chores, help them divide it between these jars. Teach them that saving money can lead to bigger purchases in the future, spending money can be used for smaller treats, and sharing money can go toward helping others.
Simple Budgeting: Introduce the concept of budgeting in a simple way. For example, if they're saving for a toy that costs $10, help them set a goal. When they receive money, discuss how much they should allocate to each jar to reach their goal. This helps them understand the trade-offs between saving and spending.
Remember, consistency is key. As they grow, you can gradually introduce more complex concepts like earning interest, setting longer-term goals, and making thoughtful spending choices.
Re: Teaching your kids about money
Posted: Tue Nov 14, 2023 9:58 pm
by VasilenaJera88
dianecosgrove wrote: ↑Tue Jun 20, 2023 5:54 pm
Nandy84 wrote: ↑Thu May 12, 2022 7:28 pm
It is very much essential to teach the kids about money. Because having the concept of money will help them to value the money that they earn.
The concept of money will also help them to secure in the knowledge that they are financially stable. And slowly they will understand the importance of money and that will help them to engage themselves in a positive way to earn money.
As children grow and start to make choices, they learn that people, things, and money have value.
This link teaches ways for online casino instant withdrawal and no deposit sites. These concepts form the foundation for understanding the importance of spending, sharing, and saving.
That is why every child should have the basic knowledge and the concept of money which should be increased and modified with the increasing age and time.
Thanks
Nandita
Engaging children in financial education from a young age is undoubtedly crucial for their long-term understanding and management of money. The suggested lessons, such as playing matching games with coins and encouraging savings in a piggy bank, are effective and interactive ways to introduce the concept of money. Incorporating play scenarios like a store or restaurant with pretend money makes learning enjoyable and practical. Additionally, utilizing various types of games, be it board games, online games, or homemade activities, ensures a well-rounded approach to financial education. This approach not only imparts valuable money skills but also fosters a positive attitude towards financial responsibility. Overall, making learning about money enjoyable and relatable at an early age lays a strong foundation for a lifetime of financial literacy.
Cheers,
Diane
Re: Teaching your kids about money
Posted: Fri Jun 07, 2024 2:17 am
by Alkeddy
Teaching kids about money is crucial for their future financial well-being. Start with basic concepts like saving and spending, and gradually introduce more complex topics such as budgeting, investing, and the importance of credit. Use everyday activities as teaching moments, such as grocery shopping or paying bills, to show how money works in real life.