You are shopping at the local grocery store and you see a young child pleading with his or her mother for a candy bar, a toy or something else that has caught his or her eye. Tears are running down both cheeks and the whimpering cry has become louder and louder. We chuckle, but as parents we’ve been there before and if you have only recently become a parent and haven’t had this experience yet…trust me you will!
When faced with making choices kids may have trouble making choices that are of our own values. But over time and with a little help they will learn to make wise choices between wants and needs.
While running a summer camp a few years ago, I overheard the janitor of the venue where the camp was being held, and he was muttering apparently to himself but loud enough for me to hear him “Why would kids need to learn about money….they don’t have any!”
Now he has a point…kids don’t have much money but wouldn’t you prefer that your child understood the value of your hard earned money? Wouldn’t you prefer that your child understood about money before they developed the habits that would almost guarantee that they had none when they grow up?
There are a number of steps that you can take right away to give your children an education about money. It does not have to be complex financial planning. And it can be fun.
Here are Ten Tips that you can practice as you pick up a few things at the grocery store and as you go about your daily life with your child.
When faced with making choices kids may have trouble making choices that are of our own values.
Start today. Give them a helping hand!
Money Smarts 4 Kids