A Few Ways To Teach Children About Finances

Wanting our children to have a great financial foundation is one of the many things we hope to teach them before they leave our nest.

Teaching them finances does not have to be a heavy lift. Consider adding this to your everyday conversations.

I’ll show you how:

1. When purchasing a toy from a store or even groceries, place your card or cash in your child’s hand to hand over to the cashier. This shows them that there is an exchange happening or something transactional in order to buy the goods.

2. Read a fun book like The Four Money Bears. This is a great way for kids to learn about the basic functions of money. They will learn about the Spender Bear, Saver Bear, Investor Bear, and Giver Bear. (You may learn a thing or two, as well.)

3. Playing family games like Monopoly will not only help our older children understand real estate, but the cost associated with real estate as well.

4. When your child starts working, whether it’s a lemonade stand, cutting lawns in the neighborhood, or babysitting, help them understand the value of a dollar and establish a checking account.

The list goes on as I am just sharing the tip of the iceberg.

Continue to find tips here on Greenwood Daily and on my blog at BankGreenwood.com. See you soon!