How to Introduce Financial Literacy to Your Children

I think its very important to teach children from a young age, how to make and save money. Many families have adopted an allowance program.

Growing up, I received an allowance twice a month and the amount I received was the age I was at the time. I could choose to spend it or save it in anyway I wanted.

As I got older and started working as a counselor and babysitting more often, I would start making savings goals for things I wanted to do like go on a trip or get a cell phone.

An allowance program can be customized in any way you see fit. Children can earn money for doing chores, or volunteering etc.

Another idea is to let your kids keep your spare change. It adds up very quickly. They can practice counting the coins and see what they can buy for that amount.

All that really matters is that your child can learn that money does not grow on trees, (or in mom’s wallet). You can teach them that they are in charge of what they want to spend their money on.

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