Teaching Money Skills
Why it's important to teach kids about money
Teaching money skills to children is an important responsibility
that pays dividends, especially when one considers the consequences
that often plague those who can't handle their finances with skill
and discipline. Money management skills generally don't come
naturally, but need to be taught and reinforced, the same as when
they learn to read, write, or tie their shoes.
Kids who learn fundamental money management skills when they are
young will carry these same skills into adulthood. While it may not
be easy helping them foster the discipline necessary to form habits
that lead to financial success, the time invested will be well worth
For most of us money is an important, yet finite resource. While its
importance in determining our level of happiness can be debated,
money generally plays a role in determining the neighborhood we live
in, the schools we or our children attend, and often times the kind
of foods we eat.
And while it's true that money isn't the only factor that determines
our quality of life and general happiness, it's a major factor.
Don't get me wrong. You don't need to live in a mansion in Beverley
Hills in order to be happy and successful, but why settle for less
when you can have so much more simply by employing the discipline
necessary to better your financial situation.
Where to Begin Teaching Money Skills
Teaching money skills to children is more than teaching them to
count, save, or balance a checkbook, it's
about helping them form habits, separating wants from needs,
setting goals and much, much more.
Like natural resources,
children need to be taught how to use their money resources wisely
Children who are not taught good money management skills and habits
when they are young, grow up to be adults with the same poor skills
and habits. Habits once formed, whether they be good or bad, are
hard to break. They can either enslave us or set us free. Teaching
vital money skills to our children will set them firmly on a path
that leads to greater opportunities and a more rewarding life.
This website's main goal is to
provide tools and information that will make teaching money skills
to your children easier and more effective.
The principles introduced in this web site are for anyone, of any
age, who wants to develop better money skills. If you are visiting
this web site, you have perhaps discovered that you yourself do not
possess the skills that you want to impart to your children.
Do not fear, the most effective way to learn something is to teach
it. And the best way to teach is by showing the student how it's
done and letting them follow your example.