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Teaching Money Kids

Lil Tip: Teaching Baby About Money

My wee one isn't even two–years–old, but I'm already thinking about how I will teach her to be financially responsible.

To learn about a fun way to teach your tot a thing or two about money,

.

Laura Levine from Jump$tart Coalition gave her 3–year–old son a piggy bank that has four chambers for coins.

Unlike old school banks, this piglet has one for saving, one for spending, one for donating and one for investing.

Levine says she likes the bank for these two reasons:

It teaches children that money is not for just one thing and parents can easily understand how to use it.

How do you teach your mini me about money?
Source

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Join The Conversation
xingkit xingkit 7 years
i like this! when daughter gets a little older i think i'll get her this one. or get 4 separate jars and label them.
weirdy weirdy 7 years
That is a great idea.. My nephew has a huge piggy bank where he puts in money he finds or the change my brother or sis-in-law gives him.. he's really proud of his accomplishments.. :)
vickibug vickibug 7 years
My 3 yr old daughter has a Pooh bank and loves to put change into it. Occasionally she has bills to put in it too. It was just about full last fall when we went to Disneyland last summer so we took it to the bank and put it in the change thing to get the cash. She bought her own mouse ears and a Pinnochio doll. She is so proud of them b/c she knows she bought them herself. Now she is saving again for the next time we go on a trip.
amber_castaldo amber_castaldo 7 years
My son (almost 3) gets the change from my pocket if he cleans up his mess. He has a couple of piggy banks one for dollars and one for change. If he finds change on the floor we talk about what it is aka nickel, dime, penny, etc.. I also sometimes give him money at the coffee place if he really wants something he has to wait in line and ask for what he wants and then pay for it.
MallRat MallRat 7 years
That is a really great idea! And the earlier you start them the better! Teaching kids to be responsible for their own spending is important too, like what lickety split was saying. I'm a big fan of approaches like that or this one from ParentsConnect about doing daily budgets http://www.parentsconnect.com/tips/one_way_to_teach_planning_budget.jhtml
lickety-split lickety-split 7 years
my kids are responsible for their own money. my goal is to teach them the consequences for their actions, not to prevent mistakes. my 9 year old got $50 for her birthday and lost it. that taught her to take better care of her things. my dad was mad that i "let her" lose it, but no one seems bothered when she loses a book or a sweater, etc. this country has a strange view of money. anyway, she's much better about keeping an eye on her stuff after losing the $50, and still hoping it's in a pocket or forgotten purse somewhere. i hear good things about the "allowance game", lakeshore learning carries it.
lickety-split lickety-split 7 years
my kids are responsible for their own money. my goal is to teach them the consequences for their actions, not to prevent mistakes. my 9 year old got $50 for her birthday and lost it. that taught her to take better care of her things. my dad was mad that i "let her" lose it, but no one seems bothered when she loses a book or a sweater, etc. this country has a strange view of money. anyway, she's much better about keeping an eye on her stuff after losing the $50, and still hoping it's in a pocket or forgotten purse somewhere.i hear good things about the "allowance game", lakeshore learning carries it.
anniekim anniekim 7 years
what a great idea. I could use one myself.
kikidawn kikidawn 7 years
Cool idea!!
kikidawn kikidawn 7 years
Cool idea!!
jennifer76 jennifer76 7 years
That's a very cute idea! I just started my 5 year old on an allowance. He has three chores that he has to do every day all week to earn a dollar for each of them. Then he has two chores that he has to do that aren't attached to a dollar value. But, if he doesn't do them, he doesn't get the allowance he earned until the next week. We have a little chart that he gets to put a sticker up for each chore for each day.
jennifer76 jennifer76 7 years
That's a very cute idea!I just started my 5 year old on an allowance. He has three chores that he has to do every day all week to earn a dollar for each of them. Then he has two chores that he has to do that aren't attached to a dollar value. But, if he doesn't do them, he doesn't get the allowance he earned until the next week. We have a little chart that he gets to put a sticker up for each chore for each day.
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