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Teaching Kids About Money

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Have you ever stopped and thought about all of the life skills we need to teach our kiddos? There are hundreds of skills that are far more important than some of the things they’re teaching in schools. Teaching kids to manage money is at the top of the list.

No matter how much money you make, if you don’t know how to effectively manage your funds, you’ll still end up broke. (Don’t ask me how I know this. Hard lesson learned.) But we can’t rely on the schools to teach our kiddos about money management so we have to take it upon ourselves. Teaching kids about money isn’t as hard as you would think!

This post is sponsored by Money Time. I was compensated for my time but a positive review was not required.
As always, I only review products I genuinely like and think my readers will enjoy.

Teaching kids about money can seem impossible but with a few easy ideas, you can show them how to be financial responsible, no matter how old they are!

3 Ways to Teach Kids About Money

Involve Them:

The simplest way to teach your kids about money is to involve them in your own finances. Allow them to hear you and your spouse discuss your finances. Involve them in creating a budget. Take them grocery shopping so they can see exactly how to limit your purchases.

Even if you are struggling financially, it’s still important to teach your kids about money. They need to see how poor decisions can effect the entire family for months or even years. Let them see the importance of having an emergency fund and living on less than what you make.

By being transparent about your own finances, kids will get a real-life look at how important money management is. Financial freedom is something that everyone should strive for and the younger kids are when they realize this, the better off they are.

Hold Them Responsible:

You can start teaching kids about money from a young age. When they receive birthday money, insist that they put a small chunk of it into their savings. When they get their weekly allowance, make sure they don’t blow it on frivolous things. You can try to get a debit card for kids with your bank, to help teach about banks and tracking spending.

Whenever the chance arises, talk to them about making big purchases and how they should be saving for them. When you buy a new couch, tell them about how you’ve been saving up to purchase it for months! Let them know that by saving just a little bit each week, funds really start to add up fast.

Start discussing college at an early age. Talk about the financial strains it can put on a family. Be open about your thoughts and make sure they understand how long it will take to pay off student loans. (This is also the perfect time to encourage them to do well in school, so they can get scholarships!) Encourage them to think long and hard before making such huge financial decisions that will impact the rest of their lives.

Make It Fun:

Let’s be real: Money is exactly the most exciting thing to talk about with kids! After all, they likely know very little about it and don’t have much extra cash to experiment with. It’s hard to understand how to responsibly manage your money when you don’t have any.

Kids love Monopoly because they’re allowed to play with fake money. They can invest it, blow it or do whatever they wish and there’s no real consequence. Heck, if you want to buy all the Railroads, that choice is up to you! But Monopoly only scratches the surface.

If you want to teach kids about money while not boring them to death, you’ll need to add some fun! Money Time Financial Literacy Program is exactly what you need!

About Money Time Financial Literacy

Teaching kids about money at home is a breeze when you’re equipped with the right tools.  Money Time offers an online program that not only teaches kids about earning and saving money, but also about investing, business and so much more! With 43 personal finance modules, there is so much education offered for kids on all levels!

I could sit here all day and talk about the details with you but instead, I”m sharing my favorite features:

It’s Independent Work:

That’s right, mama! No need to sit next to your child as they complete the program. You can be off washing dishes, catching up on laundry, helping other kiddos with math or *GASP* sitting down and relaxing!

It’s School:

There are few things more important than teaching kids about money, so why not count it as school hours? We mark it as “non-core” hours because we don’t have to track each subject, only core and non-core hours.

If you have a high schooler, you can count this as a quarter of a credit. Or you can pair it with a few other projects or financial books and stretch it into a half a credit. A half credit is equal to about 60 hours of work.  Money Time Financial Literacy offers 30 hours of engaging, fun education!

It’s Flexible:

Kids can complete a module in about 15-20 minutes. They then play a game that takes another 10 minutes or so. That means we are able to squeeze some learning into the small gaps throughout our day. While one kiddo is waiting for my help, they can complete a module, while I finish up assisting their sibling. It’s a win/win!

It’s Easy to Navigate:

Nothing turns my kids off quite like a complicated program. Clicking here, clicking there, opening multiple windows, searching for buttons…it’s a nightmare for them. That’s why they love Money Time’s easy-to-use interface. The fun illustrations and games make it their favorite way to fill some time!

Teaching kids about money isn’t something we should take lightly. It can effect every single aspect of their life for as long as they live. It’s not a subject that we should just brush under the rug and hope they figure out for themselves. As parents, we need to take the time to teach them how to handle money, invest and build a business. It’s one of the greatest things we can ever do for our kids.


***Use code HSCHOOL20 at checkout for 25% off your purchase!***

Financial Time’s Money Back Guarantee:

60 Day Money Back Guarantee. You can try MoneyTime completely risk free. If you’re not happy with it, we’ll refund your money in full!

Family subscription packages for families of all sizes:

  • 1 child
  • 2 children
  • 3-5 children. 

Contact [email protected] for subscriptions for more than 5 children. Money Time is a homeschool friendly company and always willing to work with families!


Teaching kids about money can seem impossible but with a few easy ideas, you can show them how to be financial responsible, no matter how old they are!