Children are naturally curious about money — it is a fascinating and grown-up concept! But we get it; it can be challenging to teach your kids financial skills. Whether you’re not sure what’s age appropriate to teach, or even how to explain it, we’ve got you covered.
Here are some of our favorite suggestions to help you bring financial literacy into everyday conversations.
Making Money Real vs. Abstract
There’s an old adage that kids are like sponges; they’re naturally eager to learn so they’ll soak it all in. Take advantage of that! Feed their hunger for knowledge with open conversations about money basics, and sprinkle in financial “lessons” through fun age-appropriate activities and projects.
A big part of this means making money real versus abstract. For example, giving them $10 and helping them pick things out from the grocery store that the $10 will cover helps them realize just how far the dollar can stretch.
Some other activities include:
Another way to explore money management conversations with your kids is to connect it to something they’re already doing, like chores or summer reading. In fact, Rockland Trust has a summer reading program, called Reading Makes Cent$, that encourages students to save money.
At Rockland Trust, we care deeply about supporting our community and promoting financial literacy. Our lemonade stand initiative is designed to help families talk about money while having some fun giving back during the summer!
If you find yourself unsure of the best language to use when talking about money, consider exploring Ms. Money's Classroom. Ms. Money’s Classroom expands on Ms. Money & the Coins, Rockland Trust’s own educational, interactive, musical presentation that teaches elementary-aged students about money, by providing free, unique, and fun resources to help you teach your children about money. Ms. Money’s Classroom is also available in Spanish!
Money Management Conversation Tips for Adults
If you find you’re uncomfortable talking about money with your kids, you’re not alone. Money management is a complex and personal topic, so it’s normal to feel overwhelmed about broaching the subject with your child. Just remember that financial education is a lifelong journey for you, too, and it’s okay to admit to your children that you are still learning, as well.
In fact, embracing the fact that you’re learning together can make the lessons that much more valuable!
PRO TIP: Don’t let any negative emotions you might associate with money keep you from teaching your child financial literacy. Learn together! It’s normal to have financial ups and downs, so be honest and transparent about the financial lessons you have learned in your life.
Make Financial Conversations the Norm
With a bit of courage and creativity, talking about money with your children can be fun. It’s never too early to start candid conversations about money with kids and instill healthy habits, values and feelings around finances.
Start small, like helping them save for a purchase that matters to them, or having them help create a grocery list within a specific budget. You’ll see how quickly these lessons take hold.
Get the latest financial tips and advice by signing up to receive our emails.
Rockland Trust Online Banking gives you a variety of services that help you use and manage your accounts, whenever and wherever you want.
* indicates a required field.
Rockland Trust makes it easy to manage all of your accounts with our simple online portals.
Rockland Trust gives you a variety of services that help you use and manage your accounts, whenever and wherever you want.
* indicates a required field.