My daughter is at the age where she understands you need money in order to get what you want. Well sorta…she understands my shiny card can get her more ice cream (you have to start somewhere, right?).
She absolutely loves hauling her tiny, pink, sequence purse around with a few coins and whatever else she finds (sometimes screws – don’t judge me). I’ve even found my ‘lost’ keys and I.D. in there before. Of course, she was just keeping them safe for me….
Teaching kids about money should start at a young age. Most children begin learning their numbers and how to count money by the age of three!
It can get overwhelming to think about all the things you need to teach you sweet, little babe before they are 18. And if we’re honest with ourselves, personal finance is often something that falls to the wayside.
But I’m not going to let that happen to my child! Finances are a huge part of life and setting a solid foundation on how to save and mindfully spend money is critical to their success as an adult.
How to Teach Kids About Money
There are several fun ways to teach kids about money in each stage of their life. PSECU, a Pennsylvania credit union, created a visual guide showing ways to teach your kids good money habits by age.
My favorite part of this infographic is the money games for kids. I can just see my daughter loving the pretend store and the coin toss games!
It’s also nice that this guide on teaching kids about money is very tech focused. It has smartphone apps for each age group, including one for children as young as 5 years old! I’m always surprised how quickly my daughter picks up how to do things on my phone and I think any game that is phone oriented she is going to love.
Of course, you also have to be mindful about how much tech exposure (tv, screen, ipad) time they get as it could impact other ways they develop. Technology is still a great tool for teaching, but like everything in life moderation is key.