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When to Teach Children About Money

With Rissa’s vocabulary growing everyday and her love of books, I have been thinking more and more about how to teach her things. I don’t necessarily structure out days for specific learning opportunities but as she continues to grow and develop, I might need to.

Right now we just learn through play. She loves to point things out for me to identify them for her. I enunciate words clearly and slowly while also teaching her the baby sign for that word (if I know it…).

For me, teaching her her letters and animals is pretty easy. Though I don’t always know how to make the animal’s sounds. (How does a giraffe go?)

In a few years I need to start teaching her about money. Right now she doesn’t ask for new toys so it seems too early right now. When it is time, I’ll be referring to Our Family World’s key money concepts for children.

I’m not entirely sure when to start teaching her but I think the earlier the better. Value is kind of an abstract concept, but letting them see you pay for things and explaining what you are doing should help. The time is money concept should sink in if you involve them in chores.

I don’t think there is a right or wrong time to start the learning process, but it is an extremely important one. One thing I definitely took away from Olfa’s article is the need to openly discuss money. Don’t treat it as this taboo thing no one talks about!

My dad was always open and honest with me about bills. Though it didn’t necessarily teach me how to be responsible with my money, I understand bills are a necessary evil and must be paid somehow even if you don’t have the money.

What money concepts do you find important? When do/did you start teaching kids about money?


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Donna B.

Sunday 4th of March 2012

I've definitely tried to teach my son how to handle money - I only wish my parents had done the same!


Thursday 1st of March 2012

Thanks Darcy for refeering to my article about money. Yes the sooner the better! Rissa may be a little young for that. I started discussing money with my kids when they were 3 year-old. We created a piggy bank. Each week I gave them allowance. If in the store they wanted an extra treat that is not on our grocery bill, I suggested they pay with their allowance. Most of the time they did not want to pay because they want to save money for other toys..


Thursday 1st of March 2012

You are welcome! 3 sounds about right where she can start to understand exchanging money for things. Right now she has no concept of that idea but also does t ask for stuff in store yet!


Wednesday 29th of February 2012

Yep the sooner they start learning that the better off they will be probably.

Some of us still have problems with the bill paying part.


Thursday 1st of March 2012

I'm bad about paying on time because I procrastinate. Thank goodness for online banking it's quicker than mailing now!