The Money Skills to Teach Little Kids
Want your kid to be good with money? Financial literacy needs to start early. These skills are a must to teach.
Age 3: Counting, Sorting, and Exchanging
The best time to start teaching your kids about money is the age they begin to count, Joy Liu, a trainer with the Financial Gym, told Fatherly. Start by having them count and sort coins. Teach them to identify each coin, even if they can’t remember how much each is worth just yet. It’s also smart to set up a fake store where kids exchange money for goods, introducing them to the basics of shopping.
Age 4: An Idea of How Money Works
Dr. Matthew Pagirsky, neuropsychologist and certified New York State School Psychologist, suggests that starting at the preschool age, parents explain to their children what’s going on when they use an ATM, use a credit card, cut coupons, or comparison shop. The goal is to introduce the idea that you must pay money to buy goods, and that money comes in different forms.
Here are some more lessons that will help them develop some financial sense.
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