There’s No Magic Way to Teach Kids About Money
I shared a list of money management books for kids awhile back, but I wanted to dive deeper into the subject. Before you continue reading, forget every “holier than thou” comment you’ve ever come across regarding teaching kids about money. There is simply no perfect method! If you are actively trying to teach your children money management skills, you’re already off to an amazing start.
Stage 1: Earning Money
- Babysit, dog walk, doggy doo duty – Nicole
- Old-fashion work or trade. They do some chores around the house to earn their allowance. And if they do more to go the extra mile, they get more. -James
- Clean yards around the neighborhood. – Liane
- My son sells his stuff on the online yard sale/quarter auction sites! – Saydee
- My son does the recycling and my daughter does gift wrapping at Christmas, sells her clothes on IG. – Nora
- My son sells bananas from our yard, eggs from our chickens, dog sits and cat sits for our neighbors and sells stuff on FB groups. – Julie
- My daughter does garage sales after cleaning her room every so many months. – Angie
Of course, these ideas depend on your child’s age, but they sure are creative! When it comes to being an adult, we’ve had moments where we had to be a little resourceful to make ends meet. Coming up with alternative methods to earning extra money can be fun, and it also allows us opportunities to teach our children to be innovative.
The work that they put in creating what we know as an “income stream” opens so many paths for them in the future. They not only gain a new skill in the process, but they learn the value of their hard work and the build confidence in their abilities.
Takeaways from Stage 1: Earning Money
- There’s no single method to teach kids about money that works for everyone.
- Allow them to be creative and see beyond earning money from chores.
- Teaching our kids about earning money opens the door to so many other life lessons.
What methods or strategies work for you and your family?
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