Creative Ways to Teach Kids About Money
Fun Ideas to Teach Kids About Money
You can use toys like a toy cash register to teach your child a valuable lesson. For instance, learning how good it feels to give and what a positive impact it can have on other people’s lives is a great lesson for little ones. As is the fact that if they save money rather than spending it now they might miss out on some of the instant gratifications but they end up getting something much better in the end. You could even teach them about interest by adding to their savings jar, perhaps every time they don’t dip into it for a month.
Let them choose how they split the money as this is part of the lesson. This is a great way to learn about money management and can start at any age.
Introduce money when they play
Adding a toy till to your toy box can be a great way to get little kids thinking about the concept of money, you can have conversations about how much things cost, and they will also be learning maths at the same time.
You can also play a money matching game to help them learn to recognise the different denominations of notes and coins. Little ones don’t understand to begin with that they need 100 pennies to get a single pound coin but it’s a good lesson for them to learn.
You can also get them to use real money either at home to “buy” their treats, or when you are out shopping. Give them a list in the supermarket and get them to see how little they can spend while still having everything on the list.
Talk about money in front of your kids
Ok, this isn’t exactly creative but there are many many people who don’t talk about money in front of their children. Kids learn by seeing us modelling behaviour, good or bad, so let them see you pay the bills, and bring them in on conversations about money. It’s good for them to understand that if money is spent on one thing it won’t be there to spend on something else.
Just be aware of your own relationship with money and work on it if you need to. You don’t want to pass on negative feelings about money or bad habits to your kids.
Next Up: Introducing Mathematics With a Toy Till