Raising $uccessful Kids
Teaching Kids About Money

It Takes A Village to Teach a Child About Money
by Molly Smith

The old adage/saying "it takes a village to raise a child" is still true. Things may have changed in how we communicate using advanced technology and the tools we use to teach our children to name just two, but when it gets time to apply anything that we have tried to teach our children, it takes the village to reinforce the behaviors and find success.

We’ve all been there. Out at a store with the kids and they ask for something. Whatever it is, wherever you are, you make a decision and that is that. Well… have you had the pleasure of being on vacation or on an outing with friends, inevitably your in the gift shop of the amusement park and your friend’s child asks for something.

Instantly your child wants the same thing… or something at least. You find yourself doing one of two things 1) purchasing something for your child or 2) explaining “Life isn’t fair”

Imagine if your “village” had the same approach with how to handle the “I wants” with their kids. When I started to teach my kids about money and decided that all of the extra purchases that they make (gum balls, toys, etc…) would be with their own money, I knew that one of my biggest challenges would be staying consistent.

Kids are surprisingly adaptable to new rules and routines. It only took one trip to the grocery store for my kids to figure out what I meant by, you can buy that, but you need to use your own money. I’m not saying it was easy, but by the fifth aisle, instead of asking Can I have this?”, they were asking “Do I have enough money to buy this?”

While I was reciting “Yes, you can buy that, but you need to use your own money” I could sense on-lookers interest in my words. You normally hear a simple yes or no from a parent trying to plow their way through the grocery store. Imagine if my village knew what I was doing… there would be no strange looks… my kids would be hearing other parents say the same thing.

I can picture being out with other families and their kids and my kids together helping one another make wise spending decisions with their own money. 

At minimum start teaching your kids about money, it’s an investment that will pay them back forever. Share this with someone that is close to you and not only secure your kids future, but their kids as well.
 

Molly Smith
Phone 508-659-0203
e-mail molly@raisingsuccessfulkids.com
www.raisingsuccessfulkids.com