3 Ways to Teach Kids About Money + Free Printable!
Courtesy of Quicken Loans
Did you know children as young as seven form habits and opinions about money that may follow them for life? That’s why it’s so important to teach children this important life skill while they are young. The good news? It doesn’t have to be difficult! Here are three fun and easy ways to teach your child about money.
1. Give Them a Piggy Bank
As adults, we know the importance of saving. Giving children a piggy bank is an easy way to help instill this important money habit in them early on. As your child collects change they find or earn, have them put it in their piggy bank!
The more change your child collects, the heavier their piggy bank gets, and the closer they are to buying that new toy they’ve been eyeing. If your child is old enough, you can even have them count up the coins they have stashed in their bank.
2. Start a Lemonade Stand
There’s a reason lemonade stands are so classic — they do a great job of teaching children where the money comes from. The younger a child learns how to earn money, the faster they understand it doesn’t just grow on trees.
Plus, it’s also a lot of fun for kids! Grab some old cardboard and markers and have your kids create signs for their lemonade stand. Between setting up their stand and making the lemonade, this activity can keep your kids entertained for hours.
3. Play Money Games
Children learn by playing, so the more you can teach them with games the better. Luckily, there are plenty of games that can help teach your kids about money. Here are just a few you can try:
- Monopoly: This classic board game can help your child learn about counting, saving, spending, and even investing.
- Pay Day: This game mirrors real life by giving players a monthly payday that they use to pay bills and expenses.
- Life: A classic game, Life is a great way to introduce children to different potential careers. Ask them what career card they hope to get!
You can also teach children about money through other play. Try a hands-on learning activity by creating a scavenger hunt in the home with different coins. Once they collect all the change, count it up with them, and have them store it in their piggy bank!
Flashcards are another great way to learn through play. Don’t want to make your own? Michigan Mama News has teamed up with Quicken Loans to provide you with these printable flashcards! Green, yellow, and red cards help children learn beginner, intermediate, and advanced real estate terms.
Download yours below and let us know what your children learn!