When to Start Teaching Your Children About Money

It’s a question every parent thinks about at some point. When should I start educating my children about money and finances. Being that it’s a hot topic even between married couples some just try to avoid it at all cost. But teaching our children about money and financial responsibility will pave the way for a sturdy future. We live in a country with globs of economic chaos. People borrow and spend money they don’t have and when they can’t pay back the debt the slate is “wiped clean” for them. If you teach our children the right way to handle this type of spending and saving we could reshape not only their personal lives but the nation crisis.

But Rome wasn’t built in a day. 😉

You can start teaching your children about money as early as Preschool. But remember that you should educate yourself as much as possible about it so that you aren’t giving your child “bad” information. Read up on some of the most important talking points so that you cover all of it. If you aren’t sure of where to start there are some amazing resources online. A new one that I’ve just discovered is offered by Sesame Street. It’s called For Me, For You, For Later and you can download it and print it out.

Just remember that there is no wrong time to start. As long as you start! Our children need the guidance to learn about saving for their future. I say if they start saving in Preschool they’ll be ready to spend it on College!

Information contributed by Genworth Financial

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  1. says

    We started from day one. Whenever our daughter got money and wanted to spend it we made her ask herself if that was what she really wanted. She made a few ‘poor’ decisions with her money on toys that were silly or not worth the cost, and she learned from those choices. Now as a teenager we are fortunate to homeschool and as part of Home Ec. we taught her how credit cards work, the cost of owning a home and a vehicle (not just payments, but maintenance, insurance, gas, etc.). How to budget. We feel she’s ready to go out into the world when she turns 18 next year – and not get saddled with debt while doing it.
    Tammy recently posted..New 60-Min Shakespeare Edition – Taming of the ShrewMy Profile

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