subject: How To Make Teaching Children About Money Fun And Interesting [print this page] So when is the right time to start talking to your kids about money? A lot of parents find it difficult to broach this subject in the misguided notion that their kids may be too young to handle such weighty matters. Teaching kids about money matters is an integral part of parenting, and child experts agree that this should happen as early as possible, particularly when your kid wants you to buy them stuff. That will be your cue to teach them that nothing comes for free; things come at a cost, which is money. They will begin to appreciate just how important money is.
Neale Godfrey said in his book, Money Still Doesn't Grow on Trees: A Parent's Guide to Raising Financially Responsible Children, nothing in life is free. You should let them know that money does not just appear; it has to be earned through work. And that is what you do to meet their needs and wants. It is advisable to introduce your kid to money matters when they learn how to count.
Including them in transactions that involve money is a good way to demonstrate to them in a practical way how money works. For instance, when you are purchasing a toy for them, why not use cash instead of your credit card? This way, the child understands the relationship in the exchange of money for goods. Allowing them to physically hand over the cash themselves cements that understanding.
In this modern age of technology, the Internet is an important resource for teaching kids about money in fun and interesting ways. There are several sites where you can find games that are centred on money matters. These will teach your kid about money in a fun and friendly way. There are other games like The Allowance Game and The Game of Life which gives a glimpse of expenses your kid is likely to face in the future.
Buying personalized piggy banks for children for them is a great way to teach them about saving. They can put their extra cash from allowances into the piggy bank. To make it even more interesting, you can get one that is transparent for them to watch as their money grows. This way, they get encouraged to save.
Also, to add to the fun, you can buy painted ceramic piggy banks or a pink piggy bank if your kid is a girl. They all look attractive and your kid will enjoy saving their money in one of these. Piggy banks for children are a great way to teach your kid the value of saving.
Let them manage their own money, but guide them along so they can learn how to stick to budgets.
