You’re not going to talk about interest rates and credit cards at this point, but you want your little ones to understand the concept of a money supply being finite and the need to make choices, plus the trade-offs of choices.įor the elementary school-aged kids learning about debt, you can begin introducing ideas like time costing money and credit and debit card security. If you’re talking to kids of pre-school age, you’ll focus on awareness - simply teaching them that the things you buy will cost money.
In the section on spending, for example, each age group will be taught an increasingly detailed concept within the broader topic. It also includes information and exercises that will help you approach the topic among three different age groups from preschool to adolescence, so you can teach your children as they grow. Each section breaks down the subject into language you and your kids can understand. It tackles topics like earning, saving, spending, giving, and more. The core of our eBook is structured around money management concepts and divides them out by age. To that end, the Education First eBook details a list of things you should and shouldn’t tell your kids - such as exactly how much money you earn, or which parent brings home the bigger paycheck. When discussing money with children, it’s important to strike the balance between honesty and TMI. In it, the personal finance expert takes parents on a journey of financial education, showing them how to turn inexperienced kids into miniature money geniuses. If you would like a deeper dive, Beth Kobliner’s book, Make Your Kid a Money Genius, is the one for you. It includes age-appropriate exercises for you to go over with your children, and provides tips and ideas on how to introduce them to smart money concepts. How do we get there, though? How can we inspire a healthy attitude toward money in our somewhat impulsive and irresponsible children?Įducation First FCU has put together an eBook called Essential Money Lessons for Kids that will get you started with teaching your children about money from a young age. Do you fantasize about raising your kids to be financially successful adults? At the very least, all parents want their children to become independent grown-ups who know how to spend responsibly, live within a budget and save for the future.
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