It is really never too early to start teaching your children about money. And the sooner you begin teaching your children about money the better chance they will grow up to have a well-rounded and responsible appreciation of the uses and value of money. Some parents may not begin to teach children about managing money at an early age because they simply don’t understand where or how to begin.
In the very beginning when children are very young money education can begin simply by teaching them to identify various coins. You can then reinforce what money is used for by taking your children shopping even at an early age and pointing out what is going on.
As children get a little older and into elementary school this might be a good time to start providing a weekly allowance for each child. It really doesn’t matter how much this allowance is. The child should be taught about what would be appropriate uses of this money as well as the consequences of spending too carelessly. This is also a good time to begin to teach your children about the importance of regularly giving whether it be to a local church or charitable organization. If there is a particular...
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