Teaching elementary age kids about money is a lot of fun! They are developing more advanced math and logical thinking skills and, as such, they can grasp more complex financial concepts. Elementary age kids are also starting to understand the social ramifications of money – which can lead to important conversations about money and peer pressure.
So, how do you teach elementary age children about money? Here are 14 easy ideas on how to teach your kids about money.
Encouraging kids to make and earn their own money is a fantastic lesson in finances, and it teaches them the value of hard work.
In our family, we generally don’t buy “things” for our kids unless it is needed, time-sensitive, or a special occasion. Rather, we help our kids earn and save their own money so they can make their own spending and saving decisions.
The result? We’ve had a lot of conversations with our older son about how he can make his own money. Some of the ideas are conventional. Others are really creative and entrepreneurial. What are they? Here is our list – 20 simple ideas for kids and teens to make their own money. Continue reading
Here’s a simple story about buying olives and comparison shopping. It is a wonderful reminder to use everyday experiences to teach kids about money – no matter how frustrating it may seem at the time!
Here’s a simple story about gardening, harvesting carrots, and the power of saving. It is a wonderful reminder that kids listen, watch our examples, and can understand financial concepts if we take the time to teach them. Enjoy! Continue reading
Teaching our kids about money and finances is arguably one of the most important things we do as parents. And yet, most kids are not learning financial literacy in school. It’s up to us to give our kids a solid financial education to help them succeed as adults.
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As parents, we want the best for our children. We want them to be healthy and educated. We want them to find a passion, be happy, and succeed. And if you’re a follower of Raising Savers, it’s likely you want them to start saving early.
In a highly consumerized world this is tough. From an early age our kids are exposed to media and peer pressure to spend, spend, spend. So, how do you raise kids who are financially literate and savvy savers?
“Mom… Mom…. Mom… Mom…. MOM! I need Lego set 21118.” My six-year old (little I) shouts from his room. “It’s the Minecraft cave set and it looks awesome!”
As I pop over to his room, I see him poured over a Lego brochure – totally enthralled over the biggest, most awesome Minecraft Lego set.
“Okay,” I say. “How much is it?” Continue reading
