8 Tips to Model Healthy Money Management
As adults, how we handle finances sends a powerful message to children. That’s why it’s important to model the healthy money management behaviors that we want the kids in our lives to adopt. Noted below are seven ideas to help shape children’s attitudes and behaviors around finances. These everyday lessons provide opportunities to intentionally model good money management. 1. Share the story of money in everyday life: Even for younger children, aged 4 or so, everyday activities like shopping or family outings provide a chance to talk about using money. Demonstrate using different forms of money – coins, dollar bills, and credit or debit cards. Have them consider the things that cost money – toys, groceries, trips to the fast-food restaurant, or admission to the zoo or a water park. Be sure to point out things that have value may still be free. For instance, helping a neighbor, visiting a playground, or spending time playing with a friend is fun and doesn’t require money. 2. ...