How Do You Teach Money Management For Kids 12 Years Old And Below?
Teaching money management for kids younger than 12 has never been a priority to most parents. But with the recent economic meltdown, it has become apparent that most people have a lack of understanding of money management resulting in unwise and excessive spending. The concept of money and how it works can be understood by young kids through repetition and example. If you teach money management to kids, chances are high that they will grow up responsible with their own money. Below are some ideas to help young kids 12 years and below get hip with money management. Introduce younger kids to money by playing. There are play money and play coins that you can use to teach them about its use. You can pretend play and imagine you’re in a grocery store to buy things. Teach kids around age three the names of coins and their monetary value. Repetition is the key here. Young kids remember things by being constantly exposed to it. Give young kids piggy banks. If they want to buy a candy or any sm
