Tag Archives: Teaching Kids

How to Prepare Your Child for a Real Job

If you don’t want to be the family with the 20-something adult child laying on your couch, then you have to get started early with helping to prepare your kid for his or her first real job, one that can support a basic lifestyle and have an expectation of self sufficiency. Ideally, you have been giving your child or children important money lessons since they were preschoolers, but the most critical time comes when they reach the age of 13 or 14. That is when they need to know that when they become adults, they will be expected to hold … Continue reading →

8 Things Kids Need to Know about Money

It is never too early to start teaching your children about money. While many parents shy away from discussing financial issues with their kids, this can be one of the biggest mistakes that they make. Instilling good habits and a basic understanding about how finances work can give your child an edge that will stay with him or her for a lifetime. 1. There is a difference between the things that you want and the things that you need. Wants versus needs can be a tough concept for kids to understand, but teaching them that real necessities must be met … Continue reading →

Teaching Kids about Maintaining the House

This week I have really been concentrating on teaching my oldest child how to do the laundry. We have gone over sorting, setting the washer and turning it on, adding detergent, transferring clothing to the dryer, setting the dryer and turning that on as well. When the laundry is done, he brings it up two flights of stairs to the master bedroom, where I will fold it (we will work on folding another time). You may be surprised to know that my son is only seven. At his tender age, he also knows how to vacuum his room, wipe down … Continue reading →

Get Your Kids Investing

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Want to start your children on a good path towards financial freedom? Start teaching them investing skills now. As soon as they are old enough to talk, they can start getting involved with the basics of money. Once they are in grade school, you can begin to teach them the valuable skills of investing. Some tips on just how to teach your kids some investment skills are: 1. Start by explaining what investing is. Not exactly sure yourself? Typically most kids understand saving — where you are putting money aside to buy something later, adding to that money as you … Continue reading →

Money Training Begins at Home

I have actually met many parents who are resistant to really teaching their kids about money. Why is that? Some don’t give allowances because they then lose control over what their kids get to buy. Okay, but… how can your kids learn?? Putting your head in the sand about money won’t help your problems or teach your kids. Children need to learn good money management from their parents. Some basic financial concepts taught as early as the preschool years are short-term vs. long-term goals, delayed gratification, value of money and the power of saving. While these sound complicated; they are … Continue reading →

Teach Your Kids About Materialism

The best financial education you can give your children is far more internal than external. Money habits are skills, but financial good sense is something derived from within. The key process is to help your kids develop a healthy appreciation for money and the things it can buy. Teaching your children to value money and their purchases will greater ensure their success and happiness later in life. Like most things you teach your children, the first step is becoming a good role model. A great place to make this effort is to reduce materialism. In general, this word implies the … Continue reading →

To Save, To Spend, To Share – An Early Lesson in Frugality and Generosity

My daughter is turning four next month. This is the first time that she has really understood the concept of birthdays (and gifts) for that matter. I want to thank the Saturday morning advertisers for all of the begging I’ve been putting up with lately, “mommy, maybe for my birthday I can get a big Dora castle like that one…” (and so on…) As a result, I’ve been trying to teach her about money and how it doesn’t grow on trees – as my own mother once warned. I was trying to come up with a simple way to teach … Continue reading →

Involving Your Kids in Your Finances

How aware are your children of your financial situation? Do they simply think that money is always available for them to spend? Or do they worry because they know that you do not have a lot of money? It can be difficult to find the balance of how much your children know about your current financial decision. You do not want to overwhelm them with knowledge that they are not ready to handle, yet it is important to teach them the value of things and how money works. It can be beneficial to have your children learn your monthly budget. … Continue reading →

Five Tips to Help Allowances Work for your Family

One of the best ways to help your children learn the value of a dollar is to make them work for it. This really helps to put a value on all the money that they spend. It also teaches your children the importance of hard work. This is one reason why it can be beneficial to set up allowance in conjunction with chores in the home. You can set up your system in numerous ways. Here are five suggestions that may work for you. 1) You may have a set amount of money you want to give your children each … Continue reading →

Teaching Your Children the True Value of a Dollar

One important thing to teach your children is how much things cost. This can be a difficult thing for children to grasp. They may not understand why there is not enough money at the end of the month for the new pair of jeans that they want. If they are young, they may want something as simple as a treat at the grocery store each, week, and not understand why you can not get it for them. As soon as you feel your children are old enough to begin to grasp the numbers, then you can sit down with them, … Continue reading →