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The Most Effective Ways To Teach Kids About Money Today

Teachers all know that pupils cannot learn what they are not ready to learn. However, when that moment of readiness is there, learning comes naturally. Teaching kids about money means finding the right time to teach specific aspects of a broad topic.

Young children learn primarily through their senses of touch, taste, smell, hearing and sight. Around the age of four or so they can be familiar with the texture and smell of money, and can do things like barter, without really understanding the concept behind what they do. These early experiences are the foundations upon which later learning rests.

By the age of six a girl who is given a purse or handbag as a gift will be delighted at the idea of carrying it around with her and will enjoy ‘shopping’ games. In some cases the enjoyment of such games never goes away even at advanced ages. But at six, shopping will be so vivid and sharp in a child’s consciousness that she will readily learn currency denominations and concepts like thrift and value for money, even if she is unable to articulate exactly what it is that she knows. Articulation will come later, in a further cycle of learning.

Around the age of fourteen, in early adolescence, children are still learning through play, but beginning to think in more abstract terms. At this stage of readiness generations of people have learned to handle money through the board game, ‘Monopoly’. It teaches many lessons of buying and selling, of collecting rentals and going bankrupt. In later life players may find themselves looking back on the board game, and relating it to real money matters.

Many excellent computer games have replaced Monopoly, though it has certain resilience due to its capacity to promote for social inter-action. But computer games can teach specific outcomes in a context that emulates the real business world. Undeniably, there are more effective games available now in the computer games industry.

During later adolescence teaching kids about money can cover concepts like accountability, budgeting, prudence and responsibility. These hard lessons will hopefully carry on throughout life, but at adolescence they will have a keen edge when a learner takes on responsibility for running his own money management program.

Start developing your child’s financial skills. Educate your child about money and see their financial responsibility grow. Teach Kids Money Make a positive contribution to your son or daughter’s future now.

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