May
19
2010

Money sense in kids

I don’t remember at what age money first fascinated me. I do remember though that I was always on the look out for coins on the ground. The joy of discovering them was just priceless; not that I could do much with them though.

Kids these days have it better than us. They are often pampered with luxury but I try not to splurge on my kid. I want him to learn to appreciate money. As they say, “Today’s pennies are tomorrow’s dollars”

Teaching kids about money

I started introducing money to my kid when he was two. By then he already knew his numbers well so associating them with the value of money was easy. He is now 2 years plus and recognizes the value for each coin and dollar.

When we shop or eat out, I always let him pay. By having hands on experiences on seeing money-exchanging hands, he understands the concept that money can be traded off with objects and stuffs.

Teaching kids to be responsible with money

Each day before he goes to school, I’ll give him a couple of coins to be placed safely in the pocket of his pants. He will jump and the jingling sound of the coins makes him pretty excited. He will also make sure that the coins remain there in his pocket until the moment he reaches home. Though they are merely a few cents to us, to him they mean a great lot!

In a few years when he is 7 onwards, he’ll be old enough to be introduced to pocket money. He will then learn to make his own budget. I hope he will be wise enough to spend and save some.

For now, I better make a trip to the nearest bank and open a bank account for him. He has accumulated a considerable amount of cash from his birthdays and other previous occasions. It will be great to let him have his first experience of depositing money in a real bank.

7 Comments + Add Comment

  • //

    Merryn It's good to start at young…I remember my mummy give me RM0.50 during standard 1 @.@ RM0.50 can buy a lot food.. lolz..

    [Reply]

  • //

    Nice article.. thanks for sharing!

    [Reply]

  • //

    Mommy started giving me money when I was in primary school I guess. :p

    [Reply]

  • //

    Wow way to go! I'm impressed, when I have kids I'm going to follow your example. I know of an online chore chart you might want to look at that might help you. I plan on using it to teach my kids discipline and you can teach your child the value of work and receiving earned money for their work.

    [Reply]

  • //

    it's very important to teach kids about money as early as possible, they will carry it over til grow up

    [Reply]

  • //

    Gwen likes to put coins in the piggy bank. :)

    [Reply]

  • //

    I stumble upon your blog only recently. This is a good topic.You are definitely on the right path. I teach my kids with money games while they were younger. This is a good sharing among parents.

    [Reply]

Leave a comment

Join ME for updates & giveaways!

About Me

MeHome is where MY heart is.
I am a mother to two boys; Ethan and Ayden and a wife to Darling William. I'm a stay at home mum who blogs to break the monotony of life and to avoid feeling jaded. Would love to get to know all the Super Mommies and Daddies and Babies or Singles out there with the hope that we can learn more from each other. Most of all, I am a happy person, and I hope YOU are too.

Click here to learn more about me ^_^

SUBMERRYN ON TV3, MHI

SUBMERRYN ON MHI

Submerryn NTV7 Breakfast Show

Submerryn talks about coping with physical changes during pregnancy

Submerryn ON TV3, MHI

CNY Ang Pow lantern making demo and playing with snakes

Submerryn ON TV2 Hello On Two

Submerryn On TV3 KidsNews

Submerryn On Bernama Radio24

Submerryn In The Star Metro

Submerryn In The Star, In.Tech

Submerryn In The Star, Metro

Submerryn In Sin Chew

Ploenchit, Bangkok (Thailand)

Karon, Phuket (Thailand)

Surin, Phuket (Thailand)

Mai Khao, Phuket (Thailand)

Bali with Kids (Indonesia)

Universal Studio Singapore

River Cruise (Singapore)

S.E.A Aquarium (Singapore)

Tanglin (Singapore)

Port Dickson (Malaysia)

Port Dickson (Malaysia)

Penang (Malaysia)

Penang (Malaysia)

Penang (Malaysia)

Melaka (Malaysia)

Melaka (Malaysia)

Melaka (Malaysia)

Melaka (Malaysia)

Johor (Malaysia)

Johor (Malaysia)

Johor (Malaysia)

Perak (Malaysia)

Pahang (Malaysia)

Archives