Children realize very early in life that money has value. They understand that getting a toy means Mom or Dad has to spend money, or that they need to save money to buy something they want. They also know that doing chores or jobs can earn them money to save or spend. They are also exposed to Mom and Dad working a job to earn money to provide the house they live in, the food they eat and the clothes they wear.
In a world where money is everywhere, it is important to teach kids to view money responsibly. This is not easy, especially with a retail driven society and the more frequent use of "buy now, pay later" for expensive items like TVs, furniture, and outdoor equipment. There is no doubt that today, credit is as much a part of the money world as actual paper and coins. Can children understand the difference between money and credit? And how do we help them view money responsibly? Here are some ways to help them grow up with a responsible view of money.
At home:
At school:
These ideas and activities can help children learn basic ideas about money. Children who learn early what money is, how to use it, and how to talk about it will grow up to be adults who are better equipped to use money responsibly.