Making Kids Money Masters


How To Get Started Teaching Kids About Money: Money In Everyday Life

January 9, 2023

Article By: Kelly Kirk-Xu

Wherever you are, whatever you’re doing – it can usually relate to money. We use money all of the time! The basics of using money are so great to start explaining to your kids.

For example, at the store, you can say: “I budgeted $20 for this trip… this bread is $3… how much do we have left to spend?” If your kids aren’t so confident in math – no problem! Grab your calculator app or a nearby pen, and write it out. This will add even more interaction and engagement (and potentially curiosity-driven fun!) to this question.

The more often you can experience positive moments related to money, the less intimidating it may be to keep learning about it. And you know what Mr. Buffett says: The more you learn, the more you earn!!

Why not let your kids be involved with the math/process behind budgeting – not to mention adding in taxes!! – this can really help your kids understand your “why” for buying (or not buying) certain items.

Of course, keep the topics within reason. We don’t need to stress the kids out! But we can tell them stories about our true personal struggles & victories related to money (in addition to our less exciting daily decision-making choices about money stories, too 🙂

Another thing you can talk about with your kids is quite basic: Money lets people trade with one another without the need for bartering… AKA money hasn’t always existed! People used to barter EVERYTHING!

Try a game with your kids: Pick up (or point out) various objects and ask, “What is fair for this?” and “What would you accept for that?” As you play this game, you can talk about the average monetary value of different things – and whether or not the price seems fair!

Take Care,

Teacher Kelly & The Walter the Vault Team 🙂

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