Teach kids finance lessons. Why is this important to do? How can we as parents teach our kids finance lessons?
There’s an old proverb that says “when you don’t know where to begin, start at the beginning.” Let’s first begin by defining our words.
The word “teach” means to “provide instruction in.” The word “finance” is “the management of monetary affairs.” A “lesson” is something to be learned. And, of course, we all know what kids are. ;o)
In other words, parents should instruct their kids to learn to direct or control the use of money when it comes to something that is interesting or important. Wow! Who knew that four little words – teach kids finance lessons – was such a powerful statement?
Learning how to manage money is not just learning about dollars and cents. Learning how to manage money is a mind set and creating habits.
Let’s bring back respect for money. Remember back in the day when you saw a penny on the floor or ground and it was picked up? Back then pennies had valve. A piece of gum or a stick of licorice cost one cent. Finding a penny was considered good luck. How many people pick up pennies now?
It’s important to teach kids finance lessons with a healthy money attitude and language. Teach kids finance lessons by teaching them that they can, rather than they can’t, manage money. They can learn to earn, save, donate, invest and spend money wisely.
Watch how you speak to your kids. Don’t say “No, I can’t afford to buy this.” Instead, you can say “Hey, that sounds great! How can you make the money to be able to buy this?” It’s not that we can’t afford to buy this, it’s our choice not to buy it. If we really want this, we’ll find a way. “Where there’s a will, there’s a way” an old proverb says.
Help change your kids’ perspective. Encourage them to work at something they love to do. Teach them to place more value on their time. Enable them to feel good about working for their money rather than just being given money.
So we’ve defined our words in the phrase “teach kids finance lessons.” What is our next step? ;o)
You want to know how money savvy your kid is. Here’s a FREE quiz “How Money Savvy Is My Child” where your kid, by answering seven questions, will find out if he or she is a “wealth master,” “fairly money savvy,” “not quite money savvy yet” or “money savvy deficient.”
You want to teach your kids how to make money work for them. Your child has the potential to become money savvy and do well financially with age appropriate financial education. Don’t give up on your kids! When you teach kids finance lessons, you teach them how to leave the nest and live on their own using their finances in healthy and wise ways.
No matter what level your child is at, it’s never too late to empower your child with life skills and money savvy so he or she will be Clever with their Dough and have the positive self-esteem needed to live happy fulfilling lives as adults. It’s important to teach kids finance lessons.
Cheers … Amanda van der Gulik … Excited Life Enthusiast! ;o)