Ideal Times to Teach Kids About Money 2

Ideal Times to Teach Kids About Money

Sharing is caring!

Every day life is filled with numerous teachable moments for children of all ages. A simple trip to the grocery store, for example, can become a math lesson, an alphabet review, a lesson on manners, and so many other things. This is also a great opportunity to teach kids about money and the value of money. In fact, there are many times to teach kids about money that occur in every day life. And don’t forget to check out the rest of the posts in this series: Raising Money Savvy Kids.

In the next part of our series on how to raise a money savvy kid, we're going to cover the teachable moments. Every day life provides plenty of experiences on when to talk to about money.

In life, there are several opportunities to teach kids about money.

Teaching your child about money takes more than one conversation. Using real life situation and examples will help them pull the concepts together. They’ll learn not only from your words but also through your actions. Here are a few ideas and opportunities to talk to your child about money.

6 Times to Teach Kids About Money

When They Receive Monetary Gifts

When your child receives a gift for their birthday or another holiday, it’s a great time to talk to them about saving some of the money. You can even help them plan how they’re going to save and what to save for.

When You Visit the ATM

The ATM is a magic box that spits out money when you enter a secret code. If only! But that’s what children might think if you don’t talk to them about what the ATM is and how it works. It’s a great opportunity to talk about earning, saving, and making spending decisions.

When You’re Shopping

Chances are that your child goes with you when you head to the supermarket and run other errands. This is an ideal opportunity to explain to your child about budgeting. You can also talk about how different items cost different amounts. You can even ask your child to help you compare prices and find the cheapest priced item.

Paying Bills

Paying bills is probably not something that you usually do with your child. However, it’s a great time to talk to your child about what some of the things that they take for granted cost. You can talk about working and responsibilities and how you pay for these expenses each month.

It’s also a good opportunity to talk to your child about different ways to save money and why you might want to save money. For example, you can talk about turning the lights off when they leave a room and using any energy savings to put toward something fun for the family like a vacation.

Creating Your Monthly Budget

Many adults intentionally don’t talk about money in front of their children. However, in many cases that’s a mistake. When children are aware of the family finances and understand about income and expenses, it helps them envisage the big picture.

Of course you don’t want to create added stress for your child if there are financial difficulties. However, involving them in discussions about your budget helps them have a better understanding of money. You can also see my post about creating a family budget to give you a good starting point.

Allowance Time

If you give your child an allowance, it’s an opportunity to talk about their decisions and what they’re going to do with the money. Depending on your child’s age you may have requirements for their allowance. For example, you may require them to donate some and save some as well.

Ideal Times to Teach Kids About Money 3

With busy lives, it’s easy to overlook opportunities to teach your child about money.

However they’re present almost every day. Take advantage of them from time to time and involve your child in your financial decisions and responsibilities to help them learn, both through words and actions, about money.

If you found this post helpful, do Pin it for later and don’t forget to follow Just Another Mom on Pinterest.

The following two tabs change content below.

Kori

Content Creator at Kori at Home
Kori is an autistic mom who also happens to have ADHD and Anxiety. She is currently located in Albany, NY where she is raising a neurodivergent family. Her older daughter is non-speaking autistic (and also has ADHD and Anxiety) and her youngest daughter is HSP/Gifted. As an empath, HSP, and highly intuitive individual, Kori brings her own life experiences as an autistic woman combined with her adventures in momming to bring you the day-to-day of her life at home. Kori provides life coaching services for neurodivergent women (and those who identify as women) as well as Oracle card reading, Tarot card readings, and energy healing.
Subscribe
Notify of
guest
0 Comments
Inline Feedbacks
View all comments
0
Would love your thoughts, please comment.x
()
x
Scroll to Top