Teaching kids about money is an important part of my job as a parent. One day, these children will be adults and out in the world. They need to know how money works. Honestly, I have seen one too many adults who do not understand this concept. I do not want my children buried under debt. Living within their means and being able to enjoy fun things like traveling is what I want for them. But how can we as parents explain and instruct them in the right way and wrong ways to treat money?
Luckily, we are not alone. Sunny Lee, author of “Is Your Child a Money Master or a Money Monster?” has developed a proven system to teach children all about money. Where it comes from, saving, earning interest, and hidden costs. Also how saving a little bit every day helps us to reach our goals.
She approaches the issue of money by breaking it down in easy to understand concepts. Each of the 7 habits are written about in a way that not only will children gain knowledge and wisdom concerning money but adults will as well. I like that Sunny includes images and examples of what she uses for her boys within the chapters. You can find some of the charts as downloads on her site.
For more about the book, including games, videos, downloads, and more visit NoMoneyMonster.
I like these question segments. They are a great way to have a conversation with your children and to gauge just what they are learning through the process.
About Sunny Lee
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This post is sponsored and contains an affiliate link. All opinions are my own.
this is a great book. For me the hardest part was teaching son that money isn’t free. That one has to do work in order to receive money. He is finally getting it at 16.
I think the hardest aspect of money to teach children is the value of waiting to spend. It’s so hard for them to not want to spend everything the second they hit the toy aisle.
My oldest is just about to turn 3 but I can see the wheels spinning when we are at a store and I have to explain to her about using our money to buy things in the cart. I’d love to learn more tips on teaching kids about money. It amazes me that high schools don’t have general things about debt, loans, credit, banking, etc. as part of the curriculum so I want to make sure I do an adequate job before they hit the real world and so that they can appreciate the things that they do have while growing up.
I would love to check this book – I have been curious about kids and money and what strategy to take to make sure my kids grow up financially savy
This sounds like a fab book. I think it’s so important to teach kids about the value of money from a young age. Stacey, my eldest seemed to think that money grew on trees until we set her up with a pre-paid card to load her pocket money on to. Since getting that she’s realised just how much she spends on things like clothes shopping, eating out with friend and music downloads etc and she actually saves a lot more than she spends because she doesn’t like to see the balance go down!
Louise
I would love to check this book. So hard to teach kids about money! I have been curious about kids and money and what strategy to take to make sure my son gets it!
We’ve been teaching our children about money since they were very young. They all have bank accounts and we ask family members to write checks to them so they can make deposits and endorse their own payments. This book seems like something that would fit right along with what we’ve been teaching.
This topic is very near and dear to my heart! I definitely want to do a great job teaching my boys about money so they won’t struggle against debt like I am currently doing. The book sounds great, I’ll have to check it out!