Article By: Christine Roberts
Contributing Writer

Hey Y’all Summer is here! That means for some of us the kids are HOME!! I used to fuss about
my boys eating up all the food and sucking up all the AC in the house (now I lament it). In
between my B****ing and moaning I used the summer months as an opportunity to reinforce
my personal beliefs about money. I understand ladies that money beliefs are shaped by a
multitude of factors, including cultural traditions, experiences, and socioeconomic conditions.
So, I’ve tried to approach these generalizations with sensitivity and an understanding that
individual experiences and beliefs may vary widely. Ultimately like all the things I write about use
what works and leave the rest.
It is my strongest personal belief that teaching children about finances is one of the most
valuable life skills we as parents, teachers or as a community can impart. Understanding money
management early can set them up for a lifetime of financial success. So, here are some tips to
help you introduce your children to the world of finance in an engaging way:
For our littles let’s start with the basics. Explain what money is and how it’s used. Use real coins
and bills to make it tangible. Teach them the face value of currency, and how to count money.
We are in the age of digital currency therefore many people no longer carry cash. As a result, we
also need to explain and show them that those little pieces of plastic that we readily swipe is
connected to a finite source; that is directly tied to what we have available in the bank. Teach
them the difference between things they need and things they want, using everyday examples
to illustrate this concept.
Involve them in grocery shopping. Rather than giving choices of would you like to buy one item
or another I spoke about how to compare prices and budget. Let them help with making good
choices within a set budget. My sons are now 27 and 23 years old and I can say this firsthand
experience is invaluable! I hear about their grocery shopping choices, and I smile now.
Fun fact about me …
I don’t believe in paying children for chores (that would be another article), but I believe in
letting them earn a small allowance. Help them decide how to save, spend, and share it. Start
with a piggy bank for younger kids, and encourage them to save a portion of their allowance or
money they receive as gifts.
We used a big blue bear that my son would often drop any spare change he found on the
ground or in chair cushions into ( we still have it ) !
Open a savings account for them . Making it an outing and a learning experience. Many local
banks welcome the opportunity to interact with children, and some even have age appropriate
learning materials to share. Show kids how to check their balance and interest earned. Help
them set small, achievable savings goals, like buying a toy, to teach them the value of delayed

gratification. As they get older take the time to illustrate check writing (better to learn a skill and
not need it ).
Discuss larger financial goals. Talk about saving for a big purchase or future education. I often
spoke about college savings to my boys. I was personally determined to save enough for 4 years
of education so they could leave school debt free, and I am proud to say that goal was
completed. Create a basic budget with their allowance and show them how to allocate money
for savings, spending, and giving. Encourage them to keep track of their spending to understand
where their money goes.
Use educational games. One of my favorite board games was Monopoly! My brothers and I
spent hours battling it out to have the best properties, and the most money. In all the fun I
never thought of it as an educational exercise. But it was! Now there are online financial games
that can teach money management in an entertaining way. Explore kid-friendly financial apps
that teach money concepts through interactive activities and maybe sneak in a few board
games.
Finally, our children watch us first to develop either good habits or bad habits. Demonstrating
good financial habits, starts at home. Discuss family budgeting and saving goals and show them
how you make financial decisions. Giving them age appropriate information can help them
understand some of the hard choices that we as adults have to make. I’m not advocating
burdening our children with our financial concerns, but more so advocating for them to be
armed with knowledge.
Teaching children about finances is not just an educational task; it’s a mission to empower them
for life. Start this summer, be consistent, be patient and enjoy the knowingness of raising
financially astute adults.