12 Terrific Ways To Teach Your Kids About Money
Educating your child can take on many forms. Manners, math…even how to drive. But what about money and financial responsibility? It’s a big job—and an overwhelming one at that. The lessons they learn early in life will teach them the value of a hard-earned dollar and serve as the foundation for their future spending and savings habits. No pressure there, right?
Money is such a broad topic that it can be incorporated into almost any conversation or daily routine. The trick to corralling your kid’s interest and having them learn a lesson, however, revolves around FUN. Here are a few simple, entertaining, and painless ways to start investing in their financial education:
1. Invest in a coin-counting bank
Gone are the days of the pink ceramic piggy bank with the curly tail. We’re going high-tech here. Purchase an automatic coin-counting bank so your child can keep track of how much money they’re saving and spending.
2. Stick to a budget
Have your child grab a calculator (or your smartphone) and head to the grocery store together. Before you leave the house, though, set a budget for your shopping trip.
3. Use coin riddles
One of our favorites is “What’s in your wallet?” Grab a coin purse and a handful of coins. Next, write the clues to different coin combinations on some index cards.
4. Visit your local financial institution
Schedule an afternoon outing to your local bank or credit union. Kids are curious and we’re betting the drive-thru is far less interesting than what’s inside.