My children are five and seven years old, a prime age where they are learning that money doesn't grow on trees. My oldest is reviewing currency as part of his math work at school, but I can tell that it will take a long time to teach him time-honored advice about saving, spending and giving.
My husband and I started a small allowance for them a few months ago, but we're having a hard time helping them pick out certain products that they can save for by themselves, versus what we can buy for them.
Recently, I did a search for some online sites that can help teach them about personal finance, in a way that they can understand. So far, these look sites look promising.
Free Sites That Help Teach Kids About Money
- Kids Bank (Sponsored by Sovereign Bank)
- Thrive By Five - Teaching Your Preschooler About Money
- Orange Kids (sponsored by ING)
- Practical Money Skills (downloadable workbook)
- Superkidz Money Page
2 Comments:
My favorite book by far about kids and money is called The Prodigal Son: How Not to be your child's ATM. It's very smart and basically says we need to teach our kids (and ourselves) to 1) spend wisely 2) save and 3) give to charity. If we could all learn to do this -- personally and as a nation -- I think we would have far fewer economy problems right now... Looking forward to reading more about this topic on your blog.
Thank you for the book suggestion, Jennifer. It's going on my "To Do" list today.
After I get a chance to read it, I may post a book review in the near future.
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