Kids and Finances – Age-based Resources
Kids and Finances – Age-based Resources
My tip is you can never start too early! Instead of putting my 4-year-old daughter’s birthday money into her online bank account, I let her put the cash in her toy piggy bank. She is completely responsible for it and anytime she asks for anything that is classified as a “want” and not a “need”, she knows she needs to use money from her piggy bank. She learns quickly she can’t buy everything she wants!
MilSpouse Money
Mission Response:
What a cute picture! You are right, Patty, it is never too early to teach kids about finances. It looks like your daughter is having fun and deciding how she can use her money. Our page, MilKids – Tips & Tools to Raise Financially Fit Kids, is a great place to start and includes age-appropriate resources and activities. If you feel like you need to learn a bit more about financial readiness, we have you covered. Check in with your own values and habits around money by reviewing our Money Ready program or checking out our self-assessment tools. The more you know about finances, the more comfortable you will be talking with and teaching your children good practices that can last a lifetime.
Even though Patty’s daughter is only four, it is not too young to start learning about financial concepts like the difference between wants and needs and introducing coins, paper money and counting. As children get older, introduce budgeting, saving, and even more advanced topics like understanding credit, planning for a major purchase like a car, and paying for college. Click Age-Appropriate Tips for more and make sure to access all of the resources on our MilKids page!
