Top tips to teach kids about money

Teaching kids about money

My youngest son’s 5th birthday is coming up and my 7-year-old wants to use his pocket money to buy his little brother a present… I know, my boys are awesome – I put it down to great parenting 😉

Yesterday older bro told me he’s tossing up between a fidget spinner ($2) and a Nexo Knights Jestro’s Headquarters Lego set ($125).

He has $4 in his piggy bank at the moment.

My younger son is also pretty excited about his “two monies” (two 20 cent pieces). He thinks two monies will definitely be enough to buy Jestro’s Headquarters if older brother fails to come through.

I decided it was time to have a chat about cash with my sons.

But where to begin, and how to create a healthy conversation around money matters (rather than creating two money-mad monsters)?

This site gave me some great age-appropriate tips that helped get the conversation started.

The result of today’s cash chat? They got that they can’t afford Jestro’s Headquarters just yet, and they both came to the same conclusion.

Always have a back-up plan. Santa. He’s loaded…

 

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