That’s how many Americans did not get any financial education during their K-12 or even college years, according to a survey done by Country Financial.
- Ideas to teach money management for kids
- When to start to teach kids how to save responsibly
- Two free piggy bank printable templates
TAKE ACTION:
- Involve your kids in money management tasks
- Find fun activities to engage your kids and teach them the value of money
- Print out our piggy bank printables (look for the green box) to use around the house
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When should I start teaching my kids about money?
Short answer: way earlier than you think. Kids are crazy smart and are capable of starting to understand simple money concepts even before they hit preschool.

How to teach your child the value of money
Be open and honest
If you think about it, the main way that parents teach their kids about anything is by sharing about their experiences. This way, their kids can learn about things they can do to bring about good outcomes, and actions to avoid that had negative consequences.
TIP:
Think about what you wish you had known or money things that you wish you had done differently, then make the effort to impart those lessons onto your kiddos.
Have them help you with your money management tasks
Money is not something you deal with once and then set aside for long periods of time, so why teach it that way?
Depending on your kid’s age, you can have them do things of varying complexity. Here are some suitable money management tasks that kids can help with:
- Open mail
- Write checks
- Stamp and address bill payments that are sent by mail
- Balance checkbooks
- Track spending and compare it to a budget
- Review statements for errors or behavior patterns

Set a good example
There is no greater parenting tool than leading by example. Any parent knows that kids do as you do, not as you say.
Use free online lesson plans
If you’re worried about your ability to teach, there are free lesson plans online that you can download, which give you step-by-step instructions on how to provide your kids a full curriculum of finance-related lessons.
Our favorite is the free Financial Fitness for Life lesson plans put out by the Council for Economic Education.
Choose matching over giving
Simply giving kids money to do something can backfire in that it might only teach them to not do something at all unless there’s money in it for them.
The more important lesson to teach is that some choices have a more powerful impact than others, and using matching is a better way of demonstrating this.

Make money lessons as tangible and concrete as possible
In this day and age, money is mostly digital, but being able to see and feel the consequences of your decisions will go a much longer way when it comes to learning good behaviors and modify undesireable ones.
When thinking about effective ways on how to teach kids to save money, it’s best to use cash or some other type of physical representation. That way, they actually see the gain or growth, or feel the tangible loss of something being reduced.
- Clear jars with cash or tokens (rather than opaque piggy banks)
- Charts
- Printables
Incorporate games and challenges
All kids, and even some adults, just want to play all the time. Appeal to that drive to seek out fun, and incorporate games and money-based challenges that the whole family can participate in. Some ideas include:
- Having your young child look for the cheapest priced item in a section of the store
- Tasking a slightly older child the responsibility of planning a family night within a certain budget
- Giving older kids a crack at managing the family budget (tell them your income, ask how they’d budget, and discuss their choices and expenses they’ve missed)
Encourage your teen to get a part-time job
Like with any other skill, practice makes perfect. Making money gives your teen a chance to practice making decisions about it, plus it gives them the ability to save and invest in large enough amounts that they can really see the growth.
Free Piggy Bank Printable
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Conclusion
Teaching your kids how to manage money is one of the most valuable skills you can impart on them. Prepare your kids for the real world by showing them how to save, budget, and invest. Our post with tips for teaching kids about money will give you smart strategies for giving your kids the money skills they need to make it in life.
TAKE ACTION:
- Involve your kids in money management tasks
- Find fun activities to engage your kids and teach them the value of money
- Print out our piggy bank printables (look for the green box) to use around the house
LEARN MORE TO EARN MORE:
AUTHOR BIO
Sylvia, aka Mama Chang, is a personal finance blogger out to prove the possibility of navigating high-cost living on a low-cost budget. Paid off college and condo in her 20's on under $55k salary. She wants to teach others how optimize money to maximize quality of life. Dual income with kids, based in Hawaii.
Hangs out on Keeping Up with the Changs: Pinterest