Teaching Kids About Money
Teaching kids about money is something we tend to forget or leave until they are older. Sometimes we think that learning to handle money involves math. If we struggle with math, we think we will struggle with money management. Learning to handle money has very little, if anything, to do with learning math concepts. Or we think that money management means following a budget or teaching kids to save. What we need to teach children is how to get, spend, save and share money.
So when do we begin? We start when children begin to see that money is used to buy things or pay to have someone do something for us. This is often earlier than we realize especially in this day and age when “shopping” is a daily or weekly family activity. Even young toddlers pick up the message that we exchange “money,” cash, check, credit card, etc., for things we need or want.
One of the first steps to learning anything is to learn the language. We can begin by talking about money terms. What is a nickel, dime, quarter, dollar? What does it mean to save? For older kids, what is a bond, a budget, a passbook savings account? Using play activities and games are an excellent way to teach children about money. We all have played “store” at sometime in life. Let children use their imagination. Provide them with simple basics like household items, costume jewelry, toys…..to buy and sell; play money; cash box, etc.
Many commercial games can be used to teach money skills or encourage your children to make their own games. There are also some good websites that have fun activities that teach kids about money. Look for sites that are maintained by non-profit organizations: .gov, .org, .edu. Be cautious about the places that your children visit on the web and the amount of time they are allowed to spend playing computer or video games even if they are learning activities. The Jump$tart Coalition provides a clearinghouse for educational materials and websites at www.jumpstart.org This week play a money game with your children, help them set up a “store”, or check out one of the money resources as part of your family time activities.
Adopted from Carla Mahar, UNL Extension Educator, Deuel/Garden Counties
|
