Over a year ago, I talked about teaching Abigail a little bit about money. It involved spending her piggy bank, a massive fish, and a trip to Target. You can read about it HERE.
But, as kids tend to do, she has gotten older and smarter and we’ve continued to teach her more about spending and saving and money in general.
So I thought today it would be fun to share a few things about teaching kids about money!
Teaching Kids About Money:
The easiest way to teach is by reading! We have a few books that are great for teaching kids about money:
We love the Berenstain Bears in this house!
This book is particularly great because it talks about working odd jobs to earn some extra money, saving for things you really want, and how/why you should open a savings account at the bank and earn interest.
Along with the bears, we love this curious little monkey!
This book also talks about working odd jobs to save up for something you really want, but it also tells a valuable lesson about sharing and in the back of the book it teaches about the different coins, bills, and their values. Pretty cool!
Another thing we have started doing is giving Abigail a small allowance + having her tithe in the offering plate.
We don’t give her an allowance for helping around the house yet.
We haven’t really ironed out the kinks of our plans for that, plus we kind of just want her to do those things.
As our current agreement stands, if she is a good girl during church service(the kids in our church sit with the adults during worship + sermon) then we give her fifty cents. We also give her an additional dime to place in the offering plate.
It has been a great opportunity for her to learn how long it takes to save vs spend, how giving a portion of our money back to God is important, and if she behaves herself during the service because of it, well, win-win for us all.