WAYS TO HELP YOUR KIDS BUILD BETTER MONEY HABITS

Kids Money Habits

By Chandler Sullivan
August 14, 2024 | 7 Min. Read

Discuss Family Finances Regularly and Openly

How to Teach Kids About Finances

What is the Best Age to Teach Kids About Money?

  • Preschool (3-5 years old): Basic concepts like identifying coins and bills, understanding that things cost money, and the idea of saving.
  • Elementary (6-12 years old): More detailed lessons on budgeting, saving for goals, and understanding needs vs. wants.
  • Teens (13-18 years old): Advanced topics like managing a bank account, understanding credit, and planning for larger expenses like college or a car.
  • Needs vs. Wants: Teach kids to know the difference between essentials (like food and clothing) and non-essentials (like toys and games).
  • Delayed encouragement: Encourage them to wait before making a purchase to see if they really want it.
  • Comparison Shopping: Show them how to compare prices and look for the best deals.

What You Should Teach Your Kids About Money

Allowance Can Be What You Determine As Appropriate

What is the Course to Teach Kids About Money?

It’s Never Too Late To Teach Kids About Money!

How Marine Credit Union Helps With Financial Literacy

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