spinoff: what age do you start teaching finances?

**PrincessPerky** · 12-14-2006, 06:10 AM

Re: spinoff: what age do you start teaching finances?

Never too young! and I have no idea when they will get it..

Same with anything, teach em, expose em..nothing over the head (if you are talking for more than a minute you prolly lost the 3 year old..might be as low as 10 seconds, depends on the kid)

I didn't teach my kids to read at 2.5, I spent 2.5 years teaching them to read.

I didn't teach my kid to count money at 4, I spent 4 years teaching him.

I didn't teach my kids lights cost money at 3, and 4, I spent 3 and 4 years teaching em that.

One thing I would recomend for any kid at any age (including grownups) is 'forgotten money'..for grownups that is the emergency fund, for kids it will prolly go to a car or a house or a college education..Point of 'forgotten' is you can't really touch it....but get them in the habit of saving money and not counting it soon!

**fairy74** · 12-14-2006, 08:05 AM

Re: spinoff: what age do you start teaching finances?

I agree with Princess Perky, never too young! I remember seeing my grandmas haggle over prices, always use cash and look for sales, this was all memories from a very young age. When I would whine for something in a full price store, my grandma would take me to the clearance section of KMART or the dime store (in the 1970's) and show me how much more I could get from there. My other grandma encouraged me to learn to make things I wanted. Both of my parents tended to be over-spenders, but the early example of my grandmas was enough to set me on the right path. By the time I was a teenager (and working) my parents were borrowing from me, LOL!

**pretty cheap jewelry** · 12-14-2006, 08:20 AM

Re: spinoff: what age do you start teaching finances?

I posted this under the 'how to teach children finances'

When my husband was little the grocery store used to give coins back for coupons instead of just deducting the amount from the total.

His mom let him cut the coupons and keep the coins. This was a major life lesson and made a huge impression on him. To this day we are credit card debt free and enjoy 2 real estate properties, and many luxuries.

Let them clip coupons!

**LuckyRobin** · 12-15-2006, 01:13 AM

Re: spinoff: what age do you start teaching finances?

As soon as your kids are old enough to know that money buys stuff, they are old enough to start teaching about finances. My six year old knows about wasting money, saving up for something, checking the different prices of similar items in the store for the best deal, how to collect "blinkies" because they make stuff cheaper. He has absorbed it all just by being exposed to it daily. My older daughter, even more so. I have always been open with the kids. They understand some stuff has to wait until payday, some stuff has to be saved up for for a year, they understand we can't afford that right now but maybe in the future we can. They understand that I have to write a check to pay for electricity, water, the mortgage, etc., as they see me doing it. It is important to not hide money stuff from kids. My parents didn't talk about money to us at all as kids and it showed later on in life.

**PRICEPLUS** · 12-15-2006, 09:03 AM

Re: spinoff: what age do you start teaching finances?

I started teaching my daughter at an early age. I believe it was about 5. She has developed an appreciation for saving and being frugal. I credit her inate intelligence rather than my teaching skills.

I have always insisted that she save a portion of any money that she recieved. She has amassed a sizable account. I hope she continues!

**vsjhoc** · 12-15-2006, 09:31 AM

Re: spinoff: what age do you start teaching finances?

Start them on Day 1. Tell them how much their co-pay is while they are in the hospital, and how much mommy's labor and delivery cost.

**PRICEPLUS** · 12-15-2006, 10:06 AM

Re: spinoff: what age do you start teaching finances?

Now there's a thought!

**poundwise** · 12-15-2006, 12:01 PM

Re: spinoff: what age do you start teaching finances?

When they are old enough to ask for things to be bought for them in the store, then they are old enough to start learning about money.

spinoff: what age do you start teaching finances?