Teaching children the importance of money early is
arguably one of life’s most valuable lessons. If you teach your child about
money management while they’re young, they are more likely to become
financially responsible adults. Here are three things you’re already doing to
teach your kids about money, without even realizing!
1.
Visiting
your local credit union. Your child is learning about money just by going to
your credit union with you. Seeing the transactions being made and the money
exchanging hands is a great way for kids to learn about how money works.
Showing older children your balances on your deposit slips is another way to
show them how money adds up when you put it into your savings.
2.
Grocery
Shopping. This is another great, and tangible, way to teach children about
money. When you buy groceries, your children see you giving the cashier money,
and you bagging up and taking your groceries home. You’re giving money to get
something in return. You also teach your children a valuable lesson about
stretching their dollars when it comes to price per unit and brand names. Why
do you buy the certain products that you buy?
3.
Utility
Bills. Show older children your utility bills and
explain that money is used to pay for the use of electricity or water or the
cable that brings their favorite TV shows to life. Show them how they can
reduce the costs of electricity. This is another effective way to teach the
kids that they can conserve and help the family save money, because it is
tangible; Something they can see and easily understand.
Basic money management skills are essential in everyday
life. And personal finance lessons for your child are hidden in your daily
agenda! Pick out the things you do daily (stopping by the store, your credit
union, paying bills) and turn it into a financial lesson for your child. This
will ensure you’ve given them the tools they need to succeed financially in the
future!
To
listen to 97.5 Y-Country’s Wild Bill and Honor’s Kaylee Williams talk about how you're teaching your kids to save, listen to the Mason Jar Monday episode below.
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