Parenting tips on teaching kids about money: earning, saving, investing and donating
/I hope you enjoy my interview with the delightful Jean Harris from Launching Life Strategies. One of the key life skills kids can really benefit from is an age appropriate growing understanding money. Whether your child is a toddler demanding toys at the cash register or a tween needing the latest fashion or electronic gadget, you can really help them see that an endless amount of money isn’t available to them, and that money has to be earned and managed before it is spent.
Kids of today see endless supplies of money coming out of the cash machine as we withdraw it each week and that purchases can be made with the wave of a plastic card and a signature. As parents we know this certainly isn’t the full story.
In this interview Jean provides positive parenting advice about raising kids who understand the value of money. You’ll get great ideas and develop good parenting skills on how you can help your children have a realistic and healthy understanding about money. Jean started this process when her son was around 4 years old and talks about how you can introduce ideas about money at difference stages of your child’s development.
How great would it be if your child really understood how money works? Wouldn’t it make it easier for you? Who wants to say no to their kids when it comes to purchases?
Here’s good parenting help about giving your children - toddler to tween an understanding of how:
- money is earned and how to earn money
- to plan and save towards purchases they want
- to value money and to get value for money when they make purchases
- to manage their allowance by managing, saving, investing and donating money.
Jean gives some great examples of how her parents supported her financial literacy and how she passed on that valuable learning to her child.
It really is never too soon to start teaching kids about money. Not only will they get great skills for life, but it will help you avoid the arguments about money with your kids. There are heaps of creative ideas for teaching toddlers and young kids about money in this interview!
Also look out for Jean’s book – coming this fall:
When it snows all you need is a broom: life lessons from Pearl and Dan
It’s filled with heart-warming stories about life’s many lessons
If you would like to take your child’s learning about managing money a little further as well as help them to learn more effectively and explore possible career directions you might find the Education, Careers and Money Life Skills Home Activity eBook a good parenting guide.
Here are twelve important life skills you can help your child to develop with the Inspired Children Education, Careers and Money eBook:
A love of learning; planning and completing homework; a positive attitude towards making mistakes; understanding the value of money and household spending; learning about saving money; active learning versus passive learning; understanding why learning is important; the many different roles in life; exploring possible future life directions; investigating the health and medical professions; benefits of active listening for learning; understanding the concept of ‘value-for-money’.
Remember each activity only takes around 15 minutes to complete and you can complete them at your own pace at a time that suits you and your family’s lifestyle... Most importantly, you’re developing your good parenting skills and your child is getting skills for life. Imagine how good you’ll feel about the huge difference you’re making as a parent to your child’s education, career and their financial literacy by completing these simple, fun and effective life skill activities. To find out more please go to Education. Careers and Money Life Skills