Rochelle Allen, Program Coordinator, Empowering Financial Wellness As parents, we all want our kids to grow up knowing the ropes when it comes to money. After all, teaching them early means we might not have to swoop in to save them from costly mishaps later on. The easy part is, we can sneak in money lessons every day, even during our regular routines.
When children are around 2 or 3, they're often excited to play "store" or "restaurant." Use this playtime to show them how money works by swapping pretend cash for goodies. Just keep an eye on those coins – they're a choking hazard. Once kids hit school age, get them involved in earning some cash, maybe through chores or a small allowance. Chat with them about saving up, sharing, and spending their money smartly. You can even use clear jars to show them their money growing each week and explain why we trust banks with our cash. As they get older, usually in the pre-teen era, it's time to dive into comparison shopping. Grab some store-brand and name-brand stuff and see if they can tell the difference. When they start buying things at school, like at a book fair or fundraiser, chat about budgeting and how their purchases can make a difference. Then, as the teen years roll around, it's all about helping them grasp household budgeting. This is when their money seems to vanish in a flash, so talk about what's a must-have versus a nice-to-have. Maybe even think about giving them a spending card to manage their funds. By weaving these money lessons into our daily lives, we're giving our kids the tools they need to handle their cash like champs. Teaching them about money isn't just about numbers – it's about setting them up for financial success in a world that's always changing. So let's jump on the chance to pass on these crucial skills to the next generation!
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