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Teaching Preschoolers about Money

by Mary Ann Romans | More from this Blogger

26 Feb 2009 01:19 PM

bank In my opinion, it is never too early to start teaching your children about money. While you do want to shield your children from any stress or negative financial realities, at least while they are little, it is good to start teaching them the basics of managing money. Money is a huge part of our society, and it always amazes me how kids can no clue how much of the system works.

For a young child the best way to teach about money, its uses as well as your own values concerning it is through example. If you go out and buy things when you are stressed, sad or bored, chances are that your child will grow up to do the same things. Preschooler pick up an incredible about of information from you, whether it is information that you are aware of imparting or not.

Introduce your preschooler to the concept of money by letting her earn some by doing chores around the house. Show her how that money can then be turned into real things, such as a trip to her favorite ice cream store or a small toy.

Show your preschooler the basic coins and name them, Don't expect him to remember the names or values, but use it just as an introduction. Make sure your child keeps the money away from his mouth.

Introduce the idea of donating and charities. Preschoolers tend to think that everyone is just as they are, with the same blessings. Show your preschooler that money can also be used to help others who may need that help.

Compare prices in the store. Show your child how different things cost different amounts of money.

If you pay something by check, explain that the check is like a note that tells the bank to give some of your money away to the person or company that you designate. Mention that you first have to put money into the bank before it can be taken out.

Mary Ann Romans writes about everything related to saving money in the Frugal Blog, creating a home in the Home Blog, caring for little ones in the Baby Blog and now relationships in the Marriage Blog. You can read more of her articles by clicking here or subscribe to the blog using the subscription box on the right.

Related Articles:

How the Lady at Trader Joes Cost Me $13

When Your Child Swallows a Coin

 
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Learn more about Mary Ann Romans
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Mary Ann Romans is a freelance writer, wife and mother of three children. She lives in Pennsylvania with her husband, the kids and a 16-pound cat.

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User Comments

gmcof05 (116) 27 Feb 2009 11:52 AM

I agree with you Mary, teaching preschoolers how to count money is way to early for them, they have not yet learn about basic math, like adding, subtracting, and multiplication. it is good through telling about money and what it is use for and how it works. I also agree with you when you said by introducing the preschooler to the concept of money by letting them earn some by doing chores around the house, that would help them also how to count money and be familiar with it.

Mary Ann Romans Online! (26881) 27 Feb 2009 03:20 PM

Thank you so much for the feedback. I really appreciate it.

greenmtmom (15) 03 Mar 2009 09:31 AM

Hi! I just have to say that it was hard to adjust to this "habit" but now my children (9,5,3) each carry wallets. If they want something in a store, I say, "do you have any cash?" Sometimes they do, sometimes they don't. It takes the pressure off me to spend AND they learn that if they spend every dollar on candy, there's nothing left! Check out Parenting on Track...Vicki Hoefle is GREAT. She teaches families to come together and learn the value of money...http://www.parentingontrack.com/invest-in-the-best/show-me-the-money/

Laguna1016 (25) 11 Mar 2009 08:43 AM

Hi ! I read both of your comments and I agree with them too. The concept of money needs to be taught at a young age. They might not fully understand the value of a dollar but they will be able to relate in some form. I think it's a great idea to teach this !

Mary Ann Romans Online! (26881) 12 Mar 2009 04:27 AM

I will have to check that out green! Thank you so much

Mary Ann Romans Online! (26881) 12 Mar 2009 04:28 AM

Thanks for reading Laguna. Where you introduced to the concept of money at a young age? I know that I was a little bit, and I think it really helped.

krez (10) 26 Mar 2009 02:31 PM

Hello. I'm new to this site. This is my first comment, but I was so moved by the notion of introducing preschoolers to the concepts of money, that I felt compelled to respond. It's a fabulous idea. It's one of those things that's likely present in many of our every day lives, but are often missed opportunities because they're simply not recognized. Thanks for helping me open my eyes.

krezmierski@budgetartists.com

Mary Ann Romans Online! (26881) 27 Mar 2009 03:44 AM

Thank you for your comment, krez. I am so glad that this post has meaning for you. It is wonderful to hear.

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