Kids and Money – Learning the Ropes
Kids and Money – Learning the Ropes
During the pandemic, our four kids were home all the time with remote learning and extracurricular activities being canceled. We took this opportunity to give them more household chore responsibilities and get in a rhythm of paying them a weekly allowance. We taught them how to handle the money they had in healthy ways. Each child has their own savings account which is where they save for things like a car, college, and vacations. They use their piggy bank or wallet (depending on their age) to save for fun purchases – like a new purse, Lego set, or an experience like the bungee jump activity at our local mall.
Being generous is also important in our family, so it was fun to talk through ways each child wanted to steward their money as well by giving to those in need, to church, and to charities.
MilSpouse Money
Mission Response:
The COVID-19 pandemic has certainly had an impact on our daily lives and we’re so glad to hear your family has turned having more time at home into a learning opportunity! We love hearing how your kids save up for special purchases and use their resources to help others in need.
One of our goals at MilSpouse Money Mission is to promote, encourage and provide financial literacy education for the entire family. Check out our MilKids section to learn more and find creative tips and tools to raise financially fit kids at every age and stage! From allowances to systems for saving and age-specific tips and videos, we have material for every child. The MilKids page also includes a section on parent reflection. We recognize that talking about money can be uncomfortable and there may be some topics you would like to brush up on. If you’d like to learn more on how to get a handle on your financial values and habits, consider checking out our Self-Assessment section first.
