3 Ways Kids Learn Financial Responsibility

With my background in finance and investments I am immediately drawn to thinking about ways to help my sons learn the ways of money. The way I see it there are three main avenues to teaching your children about money:

Stories. Help bring alive the concept of money, lessons of responsibility and the idea of ‘earning your pennies’. The great thing about stories is that children’s books exist for ALL ages beginning as early as 4 years old.

“Earn It”. The less tangible “earn it approach” or learning via experience by earning an allowance, selling lemonade or baked goods the real way (not simply having mom and dad buy the materials and having the kiddo pocket the earnings, 100% margin but we’ll discuss this later), watching interest compound in a real or fake (of course managed by mom and dad) savings account, saving for a special item (i.e. not simply waking up and finding the item has magically appeared overnight), etc.

Lead By Example. So that is up to you parents. In my experience the best way to teach is through example so if you use yourself as the learning opportunity, the world of money will open up to your kiddo. For example, your family needs a new car. Integrate your kiddo into the process obviously adjusting that involvement with the age.

Thank you for visiting!
Marnie

MyJobChartLogo tm 3 Ways Kids Learn Financial Responsibility

728x90leaderboard 3 Ways Kids Learn Financial Responsibility

Bio
Latest Posts

Marnie Craycroft

Founder, Publisher, Writer & Editor at Carrots Are Orange, Inc.

Marnie began Carrots Are Orange in 2010 after the birth of her first son. Carrots Are Orange is a Montessori inspired homeschooling blog for parents and educators. She hails from Maine, a wonderfully down to earth place to grow up. Marnie moved to the west coast in 1999, currently living in Seattle with her husband and two young boys. She is pursuing Montessori certification.