Easy Tips for Teaching Kids about Money

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Two kids learning while you're teaching kids about money
Pixabay.

It can be difficult to learn to budget and manage your own finances, so taking on the task of imparting the necessary money skills to your children can be overwhelming at times. However, it’s important to help your child to understand the value of money and the importance of making wise financial decisions from an early age. Teaching them about money will help them reap future financial success. With that in mind, we want to share these quick, simple ways for teaching kids about money, including the use of free printable money games available online.

Start with the Money Basics

There are a few important things to remember when it comes to teaching your children about money. First, it’s completely fine to start with the basics. Focus first on teaching your young child how to recognize coin and bill denominations, and the basics of purchasing money. These concepts are teachable using real or fake money, or the coin printable included below. If they already understand these ideas, then move on to discussing more complicated ideas.

On Earning and Saving Money

To help your child understand the concept of earning money, give them an allowance for the chores they complete around the house. Keep track of what they earn on a sheet of paper. Essentially you’re teaching kids about money and hard work, which absolutely are related concepts.

Next, assist them in setting savings goals and creating a budget. Try writing out something they’re saving for and create a container jar specifically for that goal item or experience. You can also use jars to visualize different parts of their budget. By keeping them accountable and on track for long and short-term goals, you will help them internalize self-control when it comes to money.

Teaching Kids about Money: Include Them in Financial Decisions

As your child grows, do your best to include them in any major financial decisions you make. For example, their seeing you buy a new car can help them understand how to evaluate important purchases. Learning to manage money correctly can take a long time, but giving your child the tools they’ll need throughout their life will be more valuable than any allowance you give them.

This savings tracker sheet is an example of free printable money games.
Teaching kids about money is easier with free printable money games like this one. Photo used with Self Lender’s permission.

Use Free Printable Money Games for Kids

Check out the following printable money games by Self Lender to help you teach your child the skills they need for financial success. There’s a Counting Coins Game, Chore Chart Sheet, and more. We think these money games are a valuable educational resource for parents, so we want to tell you about them. Nope, we’re not being paid to share this resource with you here. It’s an honor being able to publish content here that parents can look to for guidance with their families.

What are some other ideas for teaching kids about money?

18 COMMENTS

  1. Excellent post Christy. I think it’s so important to teach children the value of a dollar by earning allowance with chores and to make them understand why they can’t have everything they want because money doesn’t grow on trees. Sadly. Lol 🙂 <3

  2. When our kids were young, we started a savings account for each of them, and let them handle their own deposit registers. Any monetary gifts they received , as well as money earned from chores was added to their accounts which they then had to balance and decide if and when to spend , with our help. The fact that the money was real and theirs helped motivate them to do a good job.

    • I’ve also heard chore charts work, which I want to research at some point. For example, at what age would they be appropriate for kids and exactly what chores? Now your comment has me thinking, Amy 😉 I hope you’re doing well.

  3. I love the idea of having kids involved in financial decisions! It really shows them that their views are important and helps them with confidence about finances so when they’re in college they’ll be comfortable handling their own finances. My daughter’s only two and I’ve started a savings account for her but she might be a little young for everything else. I’ll have to keep this bookmarked for the future!

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