When I was a kid, I was able to do chores around the house in exchange for an allowance. This is how a lot of kids learn about having a job, saving money, and the value of a dollar. However, there are still some parents out there that think that they are “protecting” their kids by shielding them from anything money-related. They think it’s taboo to talk about how much money they make, how much the bills are, and how much things cost.
While you should never make your child stressed about any financial problems YOU are having, it’s still incredibly important to teach kids how to manage their own money in the future. That’s why I love this post by Becky at Infarrantly Creative. Here’s how she teaches her kids about money; by giving them “Spend,” “Save,” and “Give” jars:
Our kids earn money each week for their chores, and also receive money throughout the year for their birthdays and special events. I created the jars, and Displayed them somewhere prominent for the kids to see how much money they have for each category. It is so awesome when my kids see a need in our community and they are able to give to it. Once money goes into a jar it doesn’t come out unless it is used for the purpose it was intended.