It’s never too early to start teaching your children the basics of money management. Exposure to financial education at an early age can lay the foundation for a more successful financial future. Consider these fun, age appropriate activities to help your kids become well versed in money management.
Young children can learn the basics of money, such as differentiating coins and understanding how to put some funds aside. Here are four basic money management concepts for young children:
• Knowing the difference in appearance and value between coins and bills
• Putting money aside to save for later
• Understanding the value of earning money by completing tasks
• Comprehending the difference between wants and needs