Here are three of my top things parents can do in 2010 to bring (ok, sneak) money lessons into day-to-day family time, in simple and fun ways. Great for parents who want to do small things for their kids that add up to big, long-term results.
1. Read books/watch movies that help teach about money.
Sharing stories or great movies with kids is a great way to add in a bit of money training. Find books/movies with direct money lessons/messages like The Giving Tree by Shel Silverstein or The Grinch Who Stole Christmas, by Dr Seuss. You can also find other books and movies that help open a conversation around a money value or concept. For example, Charlie and the Chocolate Factory is a great story to discuss what families have and don't have, about what is enough, and about winning and loosing, etc. Lots and lots of good choices to pick from.
2. Take advantage of the teachable moments that arise each day.
Consider weaving a bit of money training into day-to-day activities like going to the grocery store, piano lessons, or getting ready for the next birthday party. These activities provide endless opportunities to share money values, discuss the "how and why" of money and teach basic concepts and principals to your kids in small bits, over time.
- Money Wizdom Money Moments email tips are full of ideas and inspiration for grabbing (or creating) teachable moments and making the most of them. Click here to sign up for the free weekly email.
3. Start kids managing their own money.
All kids need to learn how to balance saving, spending and sharing their money. When kids have money to manage, the "I want it now" requests stop, kids become better at making decisions, learn how to delay gratification and become more aware of the value of things. The key is to give kids money responsibilities commensurate with their developmental level.
- If you have a 5-8 yr old, click here to download our free Money Wizdom budget program Quick Start Guide. Four simple steps to get your kids up and running today!
At the end of the day, the more we expose kids to money choices, and give them plenty of opportunity to practice making money decisions - we will set them up for a much better and financially sound future.
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