Teach kids that money is a tool

by: Christina Ponstisso

Amy Nielson via the Huffington Post details her revelation on money habits from working as an accountant to becoming a mother.  As a mother she began observing and taking note of her children’s interaction with money. She then realized what fundamentals she needed to teach her kids about money.

Below are Nielson’s four focal points:

1. How to Earn Money: Teach children the concept that money comes from working. Without working there is no money.

2. How to Save Money: Use a more relative example when teaching your children what to save for. A great example would be a toy they are yearning for.

3. How to Spend Money: “Think about what you need first, and then buy what you really want after that.” Make a list of items needed before heading out the door. In order to avoid spontaneous shopping down the aisles.

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