Topic: How to teach children about money? (Read 298 times)

I think we must raise our children first then the education we have to give them is to discuss with them how they will earn money in their life but we must first give them time to educate them and bring them up so that  They understand time and earning money as earning money can be said to be an advanced chapter in people's life nowadays so they must teach us about earning money with their own hands.

When you give children a real and clear understanding of money they will grow up to play a more productive role in their personal and family lives. Children will become more active and efficient if they have proper knowledge about financial skills such as savings. Because they can keep themselves busy thinking of innovative ideas about how to spend their childhood money. They will be able to practice responsible behavior towards the family from a young age.

Show them. Children usually follow what they see to the adults. If they see adults fighting over money, they might end up too materialistic. Give your kids some pocket money, let them save for things they want and talk about money casually. Show them the importance of hard work and responsibility so they understand the value of money in a more relaxed way.

dont just give them an allowance/piggybank/account

instead give them a chore chart. a list of age appropriate tasks they can complete to earn their allowance. then explain the pro-cons of spending/saving their allowance

give them easy math
such as if they dont spend $£5 a week then each year they can have £$260 to buy bigger gifts for themselves or to spend on vacations
give them some easy math numbers

£$5= £$260 a year   £$130/6month  £$20 a month
£$2.50= £$130 a year   £$65/6month  £$10 a month
£$1= £$52 a year   £$26/6month  £$4 a month

that way they can look at the numbers and think about bigger things they want.. and able to work out what to save for how long to get to the total
EG $£60 sneakers..
saving $£1 means new shoes more then a year
saving $£2.50 means new shoes in 6 months
saving $£5 means new shoes in 3 months

teach them they dont get money for nothing. and instead need to earn it via chores.
teach them things they wont just turn up same day, they have to save and learn patience

Give them piggy bank that they can only spend in December, tell them to not expect any
gift in Christmas from you as parents and all of the money from piggy bank will be the amount they can spend .

this is what my father thought us when we were young and it is effective, because our
parents did not tell us about Santa Claus giving gift but only us to have our own gift , of course aside from our
God Parents that gives us also gift.

Kids nowadays can learn and earn via Internet and this is not in our radar , so what we only need to do is guide and advise them how to spend it properly .
so If you think that they need to learn how to be less spending then it is ours to tell and teach them.
My strategy when my children are young? never that I let them hand a Money even in school so they will not be familiar in money , not until they become teenager that for me is mature enough to handle expenses.

Learning about money is for me a Kinds common understanding on how we are showing and letting them see us how to use money.
Imagine that we are spending too much in their front or even buying not so needed things and wanted them not to do the same thing? remember that children only learn what we are trying them to understand.
so don't spend unnecessary things for them not to do the same thing when they are older.

Start them into saving.

Buy them a toy ATM and make them obliged to deposit any amount there for them to practice why it is important to save and handle money very well.

And that is because no one is going to do it for them.

Now, the smartest way to gain money is on the internet, marketing, investment, trading market, teach them how to use there capacitys and time on learning about life, about gaining money from internet on the easiest ways, tell them that internet isn't only about social media platforms or making vlogs for nothing, tell them that every minute in there life's is important.

 Here are some tips for teaching children about money:

1. Lead by example - Children learn financial habits by observing how parents handle money. Openly discuss household budgeting and saving strategies. Show them how you shop sales, research major purchases, and balance spending across needs and wants.

2. Give an allowance - An age-appropriate allowance helps kids learn money management skills. Let them make simple saving, spending and giving choices with their own pools of money. Require them to help earn extra income though chores.

3. Open bank accounts - Help kids open accessible savings accounts and teach them how to monitor balances and statements. Show interest calculations and have them participate in account contributions and withdrawals.

4. Discuss family finances - As kids grow older, appropriate transparency around household income sources and expenses builds financial literacy. Explain taxes, retirement plans, mortgages, interest and insurance without overwhelming them.

5. Let kids make mistakes - Allow small failures when shopping or budgeting their allowance while guiding them through analyzing those money mistakes. The real life lessons stick.

6. Engage money games & tools - There are many kid-friendly apps, websites and games that make money concepts more tangible through experience. Subscription toy/tool services can also create hands-on learning.

The more actively kids participate in daily financial choices with parental guidance, the more adept they will become at responsible money management as teens and adults. Turn money skills into a consistent family learning experience.

It's very important things when your child know as well about money than you can teaching how to know which money how mmuch and how to use money just primary level important.

The child must be taught how to earn money but before that the child must be taught how to earn money so that he will understand how to earn money.Education to earn money does not mean that the child should be put to work immediately. In any state that has special laws for child labor, they cannot work. It is forbidden almost immediately to socialize children He should be taught through all the means, he should first understand the lack and then teach him how to earn in the right way. If you keep giving yourself a big check, he will never understand the meaning of money, and Child will not see anything dishonest while earning, so children should be taught about what to do in life but with care then he will do what you want and all should be our children.
Child will not see anything dishonest while earning, so children should be taught about what to do in life but with care then he will do what you want and all should be our children.The child should only be adored, he should accept everything and not accept it, but it should be explained to him what should be accepted and what should not be accepted.

Explain to them the mainstream money has some serious issues. Teach them to be their own bank.

How to teach children about money. Here are some tips:
👉1. Introduce basic concepts like saving and spending when they're young.
👉2. Give them an allowance or money for chores to learn about handling cash.
👉3. Encourage them to save for something they want, teaching delayed gratification.
👉4. Show them how to create a simple budget to allocate money for different purposes.
👉5. Help them differentiate between essential expenses and non-essential ones.
👉6. Open  a savings account in their name to teach about interest and banking.
👉7. Display responsible financial behavior yourself, as kids often learn by example.

Rich Dad Poor Dad is actually pretty relevant, I know a lot of people like to shit on this book because it's very basic and some of the lessons are out of date but the whole thing is written from the standpoint of the guys "rich dad's" advice and his "poor dad's" advice.

There's a great story about when he and his friend (rich dad's son), try to "create" money. They go around collecting their neighbourhoods used toothpaste tubes (which in those days were made of lead  ) and melt them down into nickels. When their dads discover the operation they get a lesson in counterfeiting but rich dad is proud of their out of the box thinking.

Anyway the first few chapters might be of some use, they start a comic book library and other silly antics as kids which might inspire your children!

How to teach children about money?


First you have to get them to sit still for a moment. Or are you going to cut off their allowance?

Medical researchers sought to quantify how detrimental it was for babies to be born addicted to crack cocaine.

They did a long term survey where they tracked the development of babies born addicted to crack comparing it to control data for average performance of youth in terms of academic and workforce achievement.

What they found is being born and raised in poverty was more debilitating for a persons health and overall life expectations, than being born addicted to crack.

It seems children absorb energies and attitudes present in the environment they grow up in.

Perhaps that is a good place to start.

The best way to teach children about money is to teach them not to waste in on a stupid college degree. Colleges promote violence. Colleges are extremely unprofessional. Colleges have promoted violence against me. Colleges refuse to apologize for promoting violence against me. If you tell me about your college degree, I will give you the middle finger because I do not respect your stupid degree.

-Joseph Van Name Ph.D.

Your mean that for everything to do u need money yes this is true but u can make money for free from your laptop, mobile, and Tablet from youtube, Google Ads, Cryptocurrency, Canva, and other Social media platforms but first u need mobile. if u don't have a mobile u have nothing.

teach kids about money while playing and relaxing. teach them about money, saving and more from an early age. Teaching children how to play and have fun, will definitely be more effective. for example playing as seller and buyer.

I think they must learn this because if they do not know this now they will not be able to make money in the future so we must teach them how to earn money and how to save money.  Of course we have to teach them from small to big

Basically kids have no business with making money it the duty of the parents to provide that,situation that warrant a kid to work for money is considered an abuse against the law,only when they get to a particular age then they can be allowed to and thought the value of money ,knowing dully well that money doesnt come for free ,they have to work for it ,that in a situation where the family lacks. It not advisable for early age kids to be thought to work for their money ,they will prioritise their love for money ,making it a priority at their young age .becoming money oriented mindset at an early age

What is the best way to teach children that they'll need money for everything and no one's gonna do anything for them for free?
I want them to feel loved but I also want to teach them what things cost.