In my opinion, it is never too early to start teaching your children about money. While you do want to shield your children from any stress or negative financial realities, at least while they are little, it is good to start teaching them the basics of managing money. Money is a huge part of our society, and it always amazes me how kids can no clue how much of the system works.
For a young child the best way to teach about money, its uses as well as your own values concerning it is through example. If you go out and buy things when you are stressed, sad or bored, chances are that your child will grow up to do the same things. Preschooler pick up an incredible about of information from you, whether it is information that you are aware of imparting or not.
Introduce your preschooler to the concept of money by letting her earn some by doing chores around the house. Show her how that money can then be turned into real things, such as a trip to her favorite ice cream store or a small toy.
Show your preschooler the basic coins and name them, Don’t expect him to remember the names or values, but use it just as an introduction. Make sure your child keeps the money away from his mouth.
Introduce the idea of donating and charities. Preschoolers tend to think that everyone is just as they are, with the same blessings. Show your preschooler that money can also be used to help others who may need that help.
Compare prices in the store. Show your child how different things cost different amounts of money.
If you pay something by check, explain that the check is like a note that tells the bank to give some of your money away to the person or company that you designate. Mention that you first have to put money into the bank before it can be taken out.
Mary Ann Romans writes about everything related to saving money in the Frugal Blog, creating a home in the Home Blog, caring for little ones in the Baby Blog and now relationships in the Marriage Blog. You can read more of her articles by clicking here or subscribe to the blog using the subscription box on the right.
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