Ways to Teach Your Kids About Money with Teaching Moments® Ep. 8

Educating Kids & Connecting Families with Christine Furman

Discover the power of integrating financial literacy into your child's life in this episode of "Educating Kids and Connecting Families." Host Christine Furman shares practical tips for teaching children about money and valuable insights that will serve as building blocks for your children's financial future.She discusses the importance of instilling a positive outlook on money and introduces the three jars method for teaching kids about saving, spending, and giving. Christine also emphasizes the value of incorporating money lessons into everyday activities and offers ideas for teaching kids about counting, rounding, and the value of different coins. Tune in to learn how to set your children up for financial success and build a healthy relationship with money. Don't miss out on the wealth of knowledge shared in every episode of "Educating Kids and Connecting Families." Keep an eye out for new episodes and transformative content that awaits you and your family.

Quotes from today’s episode:

• "I wanted them to be able to have a very positive outlook on money and a good relationship with money."
• "I'm going to share with you how I have taught my kids about money, how they earn money, how they spend their money."
• "We started this three jars method… one jar for spending, one jar for giving, and one jar for saving."
• "They would earn money for emptying the dishwasher or giving Daisy food or putting their clothes in the laundry basket."
• "I really try to put a positive spin on the way that we're talking about money, too."
• "Really just giving them that opportunity to be able to count, to be able to talk about change, to show them how much things cost."

Takeaways:

• Foundation of financial literacy: Introduce children to money through everyday activities and ensure they associate financial conversations with positivity.
• Three Jars Method: Instill the practice of dividing earnings into jars for spending, giving, and saving to boost financial planning skills from a young age.
• Earning Money: Teach children the value of earning through simple tasks around the home, helping them understand the correlation between work and money.
• Educational purchases: Encourage children to use their saved money for meaningful purchases, which teaches them to value and manage their financial resources.
• Vision Boards: Utilize vision boards for children to visualize and work towards their desired purchases, instill a sense of ambition and planning.

Thanks for listening! Let’s get connected!

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