Military families are known for resilience, yet the frequent moves, deployments, and changes in income that come with military life can make financial stability feel like a juggling act. But these unique challenges may offer a golden teaching opportunity for military kids. By talking about finances openly and equipping kids with financial skills early on, we can set them up for a lifetime of financial success.
Starting the Conversation
It’s natural to wonder how and when to start the conversation. Here are some tips to make it easier:
- Start early and grow with them. It’s never too early to start teaching kids about money. Even young children can learn about the basics of saving, spending, and sharing. As they grow, so can the conversations, adapting to their age and understanding. Our resources provide tools for children starting at age three through age 19.
- Set financial goals. Help your kids set financial goals, such as saving for a new toy or a trip to a fun place. This will teach them the importance of planning and working towards something they want.
- Be open and honest about finances. Don’t shy away from talking to your kids about money. Be honest about your family’s decisions, the challenges you face, and the choices you make to reach your financial goals.
- Encourage your kids to earn money. Chores, allowances or part-time jobs (when they’re old enough) teach kids the value of hard work and earning their own money. It’s a great way to foster responsibility independence.
- Teach your kids about credit. As your kids get older, introduce the world of credit and responsible use. Talk to them about the importance of paying bills on time and avoiding debt.
By following these tips, you can help your military kids develop the financial skills they need to be successful. Be sure to check out our comprehensive MilKids section for age-appropriate videos and many more resources to help you get started.
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Military families are known for resilience, yet the frequent moves, deployments, and changes in income that come with military life can make financial stability feel like a juggling act. But these unique challenges may offer a golden teaching opportunity for military kids. By talking about finances openly and equipping kids with financial skills early on, we can set them up for a lifetime of financial success.
Starting the Conversation
It’s natural to wonder how and when to start the conversation. Here are some tips to make it easier:
- Start early and grow with them. It’s never too early to start teaching kids about money. Even young children can learn about the basics of saving, spending, and sharing. As they grow, so can the conversations, adapting to their age and understanding. Our resources provide tools for children starting at age three through age 19.
- Set financial goals. Help your kids set financial goals, such as saving for a new toy or a trip to a fun place. This will teach them the importance of planning and working towards something they want.
- Be open and honest about finances. Don’t shy away from talking to your kids about money. Be honest about your family’s decisions, the challenges you face, and the choices you make to reach your financial goals.
- Encourage your kids to earn money. Chores, allowances or part-time jobs (when they’re old enough) teach kids the value of hard work and earning their own money. It’s a great way to foster responsibility independence.
- Teach your kids about credit. As your kids get older, introduce the world of credit and responsible use. Talk to them about the importance of paying bills on time and avoiding debt.
By following these tips, you can help your military kids develop the financial skills they need to be successful. Be sure to check out our comprehensive MilKids section for age-appropriate videos and many more resources to help you get started.
