Tips To Teach Kids About Money | Learn Value of Money With Kids Wealth

by Jenn

I recently introduced Kids Wealth to my kids, which a great way to teach kids about money and help them understand the value of money.  Having knowledge of finances and money is very important at any age. It is especially important to teach our children about money, saving, budgeting and building wealth at an early age. Kids Wealth is a game that does just that. Kids Wealth uses several different to teach children the importance of finances and savings.

Tips To Teach Kids About Money Learn Value of Money With Kids WealthTips To Teach Kids About Money 

It is very important for young children to understand the value of a dollar. Also, it is important to teach them that while money is an important thing in life, it is not the only thing in life. Growing up, we didn’t have a lot of money and my parents taught us kids the importance of saving and taking care of business. Here are some other easy ways to teach kids about money and ways to help them learn about saving and finances.

1.) Start a savings account early for your child

A savings account is a great thing to have in addition to checking accounts and credit cards. Starting a savings account for kids at a very early age helps them to see the workings of a bank. Take them with you to set up the account. Let them be involved in the process and engaged in the steps. Most adults use online banking now, but it is important to take a kid to the bank. Make a monthly deposit in their savings account at the bank. Again, let them be involved in the steps. Consistent actions lead to behavior.

2.) Start saving for an item

It is always fun to buy our kids new toys or school clothes. But, once in a while it is a great idea to have them save up for what they want. Make a chart of where they are at with their money and where they need to get. Mark the chart each time they set aside money for what they want. Kids Wealth uses fun stickers for motivation. Once they reach their goal, the kids will learn how much work it took and will also learn responsibility. Kids tend to take better care of their toys when they had to save to achieve it. It’s a great motivator for kids to behave more responsibly.

3.) Start paying for special chores

Our kids have their usual chores that are just part of being a family and keeping the house in order. But, it’s good to assign special chores for them to do and earn a paycheck. My folks would have us pick up trash outside and then pay us for each bag we brought back full of litter and garbage. Other chores, like cleaning the car or washing windows, are easy for kids of all ages.The Kids Wealth game has the Kids Agreement that could be used as a contract for work. Once they earn money and learn about hard work and the reward of payment, they are more likely to save what they earned. Again, consistent actions lead to behavior.

4.) Start paying at the store

Heading to the grocery store or getting gas are everyday errands that we have to do. Why not let the kids help? I let the kids put the items we are buying on the counter for the cashier. After the cashier is finished scanning them, the kids then give the cashier the debit card or cash. They could carry the money in their Kids Wealth money pouch because using actual cash helps to teach more effectively. They have to count out the amount to the cashier and also receive the change. So, it’s a great teaching tip for math too! kids wealth money kit5.) Start playing Kids Wealth

Our kids are game playing maniacs!  I can’t think of a better way to teach kids about money than with a game and making it fun!  Kids Wealth has proven to be a great tool to not only teach my kids about money but help them understand the value of money too.

kids wealthLearn Value of Money With Kids Wealth

Kids Wealth teaches kids all about money. It focuses on different age groups from Pre-Schoolers to Teens. With tools like the Kids Guide, Money Kit, Stickers, Kids Agreement, Age Tracker Booklet, Calendar and Money Tracker, Kids Wealth uses interactive activities to teach kids. Kids can use the Calendar to keep track of their savings and their earnings until the monthly payday arrives. The Kids Agreement is great to teach responsibility. They can work in their Booklets at a particular time each day instead of watching TV or stuck on the couch.   Kids Wealth is easy to learn and fun to use, and our kids got a kick out of it.

Head over to their site to read more and to try it out for yourself, because “Actions lead to behavior!”  Kids Wealth is affordable.  You can head over to the Kids Wealth website here and grab it for only $19.99 and I also purchased the additional 5 Wallets and Storage Envelope for $10, which is an awesome deal because you can never teach your kids enough about money, and hey, they fully understand the value too early.

Madisyn, she is four years old, is the youngest of our bunch. She dove into the Kids Wealth game. She learned quite a bit from it, and she is at a very impressionable age, as well. We just celebrated the Easter holiday and as always, the Easter Bunny brought goodie baskets. This year, though, he also left some cash. How generous, huh? kids learning about money with kids wealthWell, Madisyn is still learning the value of saving, but by playing the Kids Wealth game she learned a lot more. She decided to save her money. She put it away in her money pouch for safe keeping. She is waiting until she finds something she wants. Though it was a gift, she understands that if she spends the money that it’s gone for good. She also learned that the Easter Bunny worked for that money and was gracious enough to share it. Madisyn learned that the dollar is valuable, that it takes work to earn it, saving money is safe and giving gifts is a great thing to do for other people. kids about moneyThe Kids Wealth Game offers so many different activities and interactive lessons for kids of all ages. Our kids range from Pre-School to Teen so focusing on the different age groups is a great approach. Money and finances are a large part of life. Teaching kids at a young age to respect hard work and to understand the importance of savings, budgeting, and growing wealth is easy to do, especially with a great game like Kids Wealth. Take a moment and check out the below Kids Wealth video to learn more.  Be sure to head over to the Kids Wealth website here to get all the details and grab it for your kids.

This is a sponsored post written by us on behalf of Kids Wealth.  All opinions are our own.

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