Start them young!!

I recently thought about my true first encounter with money; I’m talking way back before money really had an impact in my life. My first encounter with money took place in the same place I had my first encounter with God. This is not going to be a religious post but because my money experience is rooted in my faith I had to go there.

Growing up in the church you quickly learn you have to give a portion of what you have back to God . As young as I can remember, I would run to my mom or she would come to me where ever I was sitting with the youth to give me a quarter of 1 buck to put in the offering basket as it came around during offering time. That my friends was my only moment and somewhat conversation I really had with my parents about money. There were instances where they told me to save and save and save but no one really showed me how to do the spending and saving.

Children are like sponges, they do and absorb everything that they see. You know they love playing in your clothes or makeup and try to be like mommy and daddy. So why not start them young when it comes to learning about money. It doesn’t need to be in depth but start with visual aids to help them understand what money is and how it works. Piggy banks are a great tool to get the ball rolling. I remember having a porcelain piggy bank in my early teens-guess who didn’t last more than two months with it? you know it.. ME!

The foundation of saving wasn’t set for me so I had no patience and everything I wanted/needed had to come from that stash and the only to get it was to break it. I broke the heck out of it. I felt no remorse or anything; why? cause I wasn’t about that savings life until I hit my mid 20s. I feel you judging…. At least I’m better now right? lol.

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The key to helping children understand money is by focusing on three important principles…. Sharing (giving), Saving and Spending.

Giving (sharing) is important to teach because it allows your children to learn the value of helping others and helps to build their character. Saving allows them to see that money is earned and let them know about what the differences are between saving and spending and how once spent its gone. Three piggy banks label for each principle will allow them to get excited about saving for a toy that they really want instead waiting for a birthday or christmas to come in order to get that toy or gadget.

It might be challenging to start but once the kiddos gets the hang of it they will not part from their teaching and likely carry it into adulthood.

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Theres no wrong time to start teaching children about money; just start! Teach them the ways and they will not depart from it. If you guys have any additional tips or suggestions.. Feel free to post it down in the comments so we can get a conversations going.