It's Never Too Early to Teach Your Children about the Value of Money

Posted by Justin Havre. on Tuesday, August 19th, 2014 at 8:01am.

In today's fast-paced society it's more important than ever to teach children at an early age about the value of money. When the subject is approached the right way, kids love to learn more about the paper and coins that represent a certain value. When you're teaching the young ones about money, they'll listen to everything you have to say as long as this subject is presented at the proper gradient.

Show by example

When you're out and about shopping with your children, take a point of taking along some money with you to make some of your purchases. It's very difficult for kids to grasp the concept of plastic money in the form of a debit or a credit card. This is a good time to allow your children to feel the money and help hand it over to the cashier. They can also take the change and then pass it over to you. It's always good to have a hands-on experience with money before trying to learn any concepts about it.

Show the value

Have your child perform a task and then reward him with a small amount of money. This shows him that money is an exchange for valuable services. This can lead into a discussion about the give-and-take within the household and why chores and proper exchange are so important.

Play money games

Your kids can learn a lot about money when you play fun games with them. Monopoly has been a hit for many years and for good reason. Children get to experience purchasing real estate and having the potential to become extremely rich. There are a lot of different money games available that are age-appropriate. These types of games offer a hands-on learning experience with cash and also provide bonding moments between you and your kids.

Children will naturally want to learn about money and the best way to get started is by giving them opportunities to handle either real or play money as much as possible. The harder concepts can be introduced later once the child is old enough and has really grasped the idea of value and exchange.

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