As a grown-up that has a role in a kid’s life, there are different skills and experiences that we want to teach our children about. Of course, we all know that most of us have to make our own mistakes and therefore they might not listen – but here are some things to teach kids about money.
It’s Not What Matters
Although there is no denying that money is important in terms of paying bills & making sure we have somewhere to live, in the grand scheme of things it isn’t what matters. It’s really important to teach children that different people will have different amounts of money and that is not something we should judge people on. We should be choosing friends and the people we spend time with on all sorts of factors surrounding how much of a good person they are and what qualities they have – and not how much money they have in their bank account.
Money Management
It’s a good idea to teach children how to manage money – the consequences of spending too much & what happens where there is none left. This doesn’t have to be a heavy teaching session but definitely when they’re older getting them involved in the family budget and why you’re able to buy some things and not others really helps. Leaving school and going into your first job with no real idea what it means to be earning real money and how to know what should be spent where can lead to bigger financial difficulties down the line. Encouraging children to save some money each month is a good one too – and can be taught from a young age, encouraging them to save up for a toy or activity that they really want.
Being Sensible
It is all well and good to earn money and get some financial freedom, but being sensible with money is definitely something to be taught. For example, once you start buying gadgets and owning your own belongings, looking at how to insure these can help. Protect your Family have a range of advice tools that can help with knowing what insurance product you need – and teaching your children how to look at this, what things to be looking for and even the benefits of insurance can help them in making better money decisions later in life.
If you have any ideas of things to teach kids about money I would love you to share them
*Collaborative post
Debz Louise is a plus-size blogger based in Yorkshire. Behind many nationwide campaigns such as #WeaAreTheThey & winner of Best Blogger at the UK Plus Size Awards, she talkas about life as a plus-size 40-something woman in South Yorkshire.
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