In early childhood, learning about complicated financial concepts may be too much for children to grasp.
Luckily, teaching your child about money can be a fun and creative process that allows them to explore the world of planning, problem solving, staying focused, and patience.
Here are few tips to kickstart the money lesson in your home!
- Tip 1: Practice learning to sort where they would or would not want to spend money. Ask why. This will help them realize their very own likes and dislikes and help them discover their own personal preferences.
- Tip 2: Get creative! Make play money and coins. Give your child some money and act out scenarios. This will show them independence and a level of control over their money/decisions.
- Tip 3: Earn it. Nothing teaches a child the value of a dollar like working for it. Start small. Have them clear their plate, pick up their toys, or have them help take out the trash. I think we can all agree that there comes a sense of pride when you know you have earned something. Children can feel this too, not just adults.
- Tip 4: Talk about your job. Explain what you do on a daily basis and why you do it.