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six money concepts to teach your kids - stepson putting money in savings jar with stepdad looking

Six Money Concepts To Teach Your Kids

Forced bonding with your stepkids has something in common with the idea of teaching them about financial responsibility. If you announce your intentions, then you probably aren’t going to get very far!

Nobody likes forced bonding exercises. Kids tend to be allergic to anything with the word “lesson” or “responsibility” in it.

But if you’re clever and combine the two exercises into one, you can take the edge off of each of them. Simply put, helping your stepkid to learn about money can be a bonding experience, if done right.

So how to do it right?

The great thing about money concepts is there’s always a practical example at hand.

Perhaps, as near as your Christmas spending. You never need to worry about sitting down with a textbook and your serious face on.

When your little one is around four or five years old, he or she is ready to start learning about the value of money. Precisely the fact you can save your money towards buying something nice.

It’s a great age to begin giving your child a modest amount of pocket money.  Help your child identify a toy or treat they want that they can save up for by them self.

Nothing that will take too long – remember how slowly time moves when you’re that age!

Then the secret is to join in the game. You choose some small fun item and keep a savings jar alongside with your stepkid’s.

This way, when you talk about money you can make it practical and personal. It gives you something in common – and something to say, which is a commodity not to be undervalued!

As the years go by, your stepkid will be ready to take on increasingly complex ideas about money. You can update your “bonding” approach as you go.

For a few ideas on what concepts to introduce, how, and when, check out this new infographic from On Stride Financial. You both might learn something!

 

Courtesy of: On Stride

Copyright: bialasiewicz / 123RF Stock Photo

About The Author

John is a digital nomad and freelance writer. Specializing in leadership, digital media and personal growth, his passions include world cinema and biscuits. A native Englishman, he is always on the move, but can most commonly be spotted in Norway, the United Kingdom and the Balkans.

When you have more than one child to provide clothing for at a time, things can get expensive fast. Click here to get top tips for saving money on children’s clothes and shoes.

 

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