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Parenting & Childcare

Kids and Money: When it the right time?

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maddy.perry
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maddy.perry
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chloe.brown
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I have a toddler and I am starting to make her aware of money. And I plan to teach her about it little by little.
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ashton.baxter
ashton.baxter followed this discussion
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Start them off young so they'll know the value of money. Let them do chores around the house then pay them for it.
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mercy.ojeh
mercy.ojeh followed this discussion
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I think you should start by teaching them the value of money.....you can start by giving them money after they've done well and ask how they'll love to spend it do the same thing days after but don't plan for them let the planning be done by them...gradually they'll mature to know how and when to spend money
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noah.white
noah.white followed this discussion
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I have a toddler and I am starting to make her aware of money. And I plan to teach her about it little by little.
Isn't that way too young? Wouldn't that make them too money-focused?
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Host
Maybe when they're 10. At least I can explain money matters to them and they can understand better.
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You have to start right away so it will be like second nature to them to save money.
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Kids should handle their money when they're older. They'll have a better understanding of why and how to use the money.
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I don't believe in just giving kids money, they must earn it through doing chores around the house or as a reward for good behaviour, good grades, etc
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The earlier the better. the must understand the value of money so they make smart financial decisions in future
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Host
Don't give kids physical cash because they will lose it! open an account for them and accumulate their savings there and regularly show them their bank balance
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If you can afford to teach them about and give them money from a young age then why not - I'd say there's no"right age"
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Host
They'll know what to do with the money if they start young. It also gives them some confidence that they can handle their own money.
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Host
It would be better that you introduce them in saving money at a young age like 7 years old. We have to educate them about financial matter so that they will be responsible enough when they grow up.
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