A Guide To Teaching Your Kids The Value Of Money

teaching kids the value of money, a piggy bank

*Collaborative Post

It’s not a secret that kids don’t know anything about the value of money – that is until they learn it from you. If you don’t talk to them about money and make an effort to demonstrate how they should treat it, they will learn from you regardless. Badmouth money? Your kids will likely develop a negative relationship with it. Don’t spend money wisely? Your kids will see that money should be spent on impulse purchases and whims. If you want to make sure your kids grow up with a positive and sensible attitude towards money, read on. 


Explain How Money Actually Works

You’re going to need to explain how money actually works in a way that is suitable for their age range. Let them know that the cashpoint doesn’t actually spit out notes for free! 

You can tell them that it’s like a piggy bank and that the money you take out is gone until you get payment from work again. Make sure they understand that you can’t just buy whatever you want and that you need to think carefully about the money you spend. 


Reinforce Good Lessons In Your Kids

Reinforce good lessons in your kids by remaining consistent. Play games where they have a pretend store and you exchange small coins for items. Help them to build critical thinking skills by giving them pocket money and encouraging them to save for something that they want, rather than immediately spending the money on sweets every time.

Explain to them what they could have leftover if they bought a chocolate bar, and how much they could have if they left it alone for a few weeks. This will encourage them to think carefully before spending. You could even get them a see-through piggy bank so they can actually watch their money grow

Make sure they bring their money when you go shopping together, too. If they don’t have any left but they want ice cream, don’t give in or you defeat the purpose of trying to teach them good lessons. You could even encourage them to donate a small amount of their allowance to charity. 

sweet little girl smiling


Have Family Meetings And Discuss Money 

Have family meetings and discuss the value of money. Your kids don’t need to get too involved, but listening to you talk about what you are going to do in the coming months will help them to understand better. If you have a trip coming up, talk about how you’re going to start putting money away and how much you think you’ll need. If you’re buying a new car from a place like https://www.jaysmotorcompany.co.uk, talk about monthly payments and how you’ll make this work for your budget. Just make sure you’re neutral – you shouldn’t grumble about paying bills in front of your kids. This can mean they develop limiting beliefs regarding money early on. 


Be A Great Role Model 

Practice what you preach! Kids are like sponges, so make sure you’re teaching your kids with your actions, too. Speak and spend wisely in order to teach them the value of money.

my signature

*This is a collaborative post. For further information please refer to my disclosure page.

Pin for later:


If you enjoyed this post you can follow more of our life, opinions and antics over on Facebook, Twitter, YouTube and Instagram. Plus feel free to come and join in with my parenting group ‘From One Parent to Another’ on Facebook.

If you’d like to contact me you can either leave me a comment or drop me a line via my contact me page.

For other topics similar to this one check out these suggestions below…

Related Posts:
Enjoying Your Garden This Autumn
apple on a tree in an autumn garden

*Collaborative Post Can you believe that the summer has been and gone already? All that time spent making sure that Read more

Is My Baby Teething?
teething baby

Ahh, one of the most common questions that seems to come up in parenting groups and I'm sure it is Read more

11 Top Tips for Shopping Successfully on Vinted

I absolutely love shopping secondhand so when I came across Vinted a few years ago (a little late to the Read more

What You Need to Know About Applying for Locum Pharmacist Jobs
pharmacist sorting pills

In the current job market, a lot of people are looking for a certain kind of career. Ideally, something that Read more

Leave a Reply

Your email address will not be published. Required fields are marked *