“Look mom, I found a penny!” Any time one of my kids finds a forgotten penny lying around, it’s a pretty big deal. After they get a chance to admire their new treasure, I encourage them to put it in their piggy bank.
Learning the basics of money in an age-appropriate way is important for kids, so our family has been trying to include it in daily life for our preschoolers. Just like learning to add and subtract or telling time, between the ages of 3 to 6, money is another basic math concept they can start to understand. By the time a child is 5 years old, the Consumer Finance Bureaurecommends children start learning:
- Why you need money
- How you earn money
- Waiting for things you want
- The difference between needs and wants
I hope to guide my kids toward healthy habits with money, learning both from my examples and even my mistakes. Having open, regular conversations now helps our children grow in their understanding of money for the future.
Here are three questions to think about when teaching kids about money:
- What is the value of a coin or bill?
- What d owe use money for?
- What is a budget?
*Click the link to read more about each question.
Article by Samantha Gratton