GUEST BLOGGER: KATHY RIGGS, USU EXTENSION PROFESSOR
True story: Three siblings ages 9, 6, and 4 offered to do some yard work for a neighbor (It might have been me!). At the end of the project, the neighbor decided to reward the two older workers 50 cents each and the 4-year-old 35 cents based on the perceived amount of work done. When the 4-year-old was given a quarter and a dime, he handed the dime back to the neighbor saying, “I don’t want this, I want another quarter.” Evidently, this youngest sibling knew he was being short-changed!
So, at what age should parents begin teaching their children the value of money - earned or gifted? Below are five things children should know about money by the time they reach middle school.
Concepts for age 3-5 years
Concepts for age 6-10
Teaching your children key concepts about earning, saving and spending money is a smart move to save your child from developing poor habits to be carried into adulthood.
Kathy Riggs is an Extension Professor with expertise in Home Food Preservation/Storage and 4-H Afterschool programming. I also dabble in several other areas including Financial Management! In my time outside of work, I participate in regular therapy sessions puttering in my yard and garden. I also love to hang out with family and spend time in the kitchen.
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Blog editor and Accredited Financial Counselor sharing real-life money smarts that can help you stay on track with financial goals while still enjoying life!
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1st Place National Award in Social Media Education from the National Extension Association of Family and Consumer Sciences
Gold Award in Blog Site category at the 7th annual Education Digital Marketing Awards.
Silver Award in New Media category at the 34th annual Educational Advertising Awards.
Platinum Award in Digital Media, Web Design category at the International Marketing and Communication Awards.