Teaching Kids About the Value of Money
Is it ever too early to start learning how to save and spend money wisely? Answer that question and more in this Homeschool Living. Discover some great tips for how and why to include financial budgeting in your homeschool curriculum, as well as excellent activities and resources for teaching children of all ages the value of money.
Should children earn an allowance for performing their family chores? It’s hard to teach responsible financial habits if there are no finances to practice with. But do you tie an allowance to the responsibilities your children have around the house, or are both the allowance and the chores treated as separate components of being a part of the family? Steve & Annette Economides of Money Smart Family share their thoughts.
Financial guru Dave Ramsey offers a wealth of information on family finances and learning about money, including how to talk to your kids about money, tips for introducing financial responsibility to kids of all ages, and how to raise “money-smart” kids.
Understanding the Value of Money begins with Financial Responsibility
Explore these 19 ways to teach kids financial responsibility at any age–from elementary school age to high school and beyond. There’s more to teaching about money than providing an example of financial responsibility and encouraging kids to save their allowance–remember to involve them in other financial matters such as taxes, credit, and stock.
Do your kids know what you mean when you tell them “Money doesn’t grow on trees!”? These free printables from Self-Sufficient Kids can help younger children keep track of their earning, saving, and spending, while teaching the value of money.
If you’re looking for a new game for a family night, you might try one of these suggestions from Wise Bread. Discover six board games designed to teach about money, saving, and debt, in a fun, family-friendly way. Also, be sure to check out the Entrepreneur Board Game!
Browse this list of mobile apps for the college-bound teen for some more high-tech options for tracking spending and saving into young adulthood.
Do your kids earn an allowance or extra money for doing chores around the house? Share your thoughts in the comments below and then check out other financial articles in our HEAV blog!
Megan Mora Fuentes
