Print
October 18, 2021

How to Teach Kids About Money

Whether your kids are ready to start earning money or are curious about how money works in their everyday life check out this article from annuity.org that explains why starting the conversation about financial responsibility at a young age is beneficial for success later in life. Teaching kids about money when they’re young lays the […]

Whether your kids are ready to start earning money or are curious about how money works in their everyday life check out this article from annuity.org that explains why starting the conversation about financial responsibility at a young age is beneficial for success later in life.

Teaching kids about money when they’re young lays the foundation for responsible money management later in life. Children whose parents emphasize the importance of financial literacy and encourage them to spend and save thoughtfully develop a healthy perspective on money. Annuity.org has put together an in-depth guide on How to Teach Kids About Money, including lessons and activities for children of every age. 

It’s never too early to begin teaching your kids about money. But doing so is not as straightforward as you might assume. Some parents don’t feel confident enough in their own knowledge of financial matters to be comfortable teaching their kids about money. Others believe it’s inappropriate to burden young children with conversations about money or think, mistakenly, that children are too young to understand financial concepts.

In fact, researchers from the University of Wisconsin-Madison studied the behaviors and attitudes of fourth and fifth graders who were exposed to financial education and concluded that “younger students can learn financial topics and that learning is associated with improved attitudes and behaviors which, if sustained, may result in increased financial capability later in life.”

Beth Koblinger, author of the New York Times bestseller “Make Your Kid a Money Genius (Even If You’re Not),” wrote an article for NPR’s Making Sen$e in 2018, in which she described her encounters with parents of all economic backgrounds during a recent book tour. She realized that all parents, whether very wealthy or middle-income earners, had the same questions:

  • When should I start talking to my kid about money?
  • How do I teach the value of dollar?
  • How do I convince my kid that college is worth it?

In her book, Koblinger emphasizes the fact that opportunities to talk to kids about money happen naturally as we go about our daily lives. Parents can take advantage of these “teachable moments” when they arise to help their kids begin building the foundation for a lifetime of financial success.

Continue reading their article here!