The first tool for teaching children about money is to understand that you don’t need any tools.
You are perfectly equipped to guide your child! You have hands to comfort, a voice to gently instruct, eyes to observe, and knees to bend in prayer. On the parenting journey our love for our children will carry us far.
That being said, it’s nice to have a little help along the way. I submit this list of seven useful tools for teaching children about money.
These are things that we have found helpful as a family. We think you’ll find these to be worthwhile for your family too!
Books For Teaching Children About Money
- Dave Ramsey and Rachel Cruze’s Smart Money Smart Kids – Written by Dave Ramsey and his daughter, this book tackles the important issue of instructing kids about managing money and the value of hard work.
- Larry Burkett’s Money Matters for Kids – This book excels at teaching children about the necessity of carefully governing their finances. As with Burkett’s other writings, Money Matters for Kids includes the biblical reasoning behind fiscal management.
Give, Save, & Spend Banks and Wallets
I don’t own this money jar (we use the simple tip below) but I have put it in our online cart multiple times. If we do end up purchasing a bank for each of our children, this Moonjar will be the one that we buy.
So far the system below is working for us, but for the younger children (under 6) the money often disappears or switches envelopes! How very mysterious 😉
These adorable kids budgeting wallets are created in Washington by Melissa Kaiserman. She makes budgeting wallet systems for adults too. These can all be found in her Etsy shop.
The wallet set:
Or the trifold wallet:
- Smart Money Smart Kids – This website, associated with the book that was launched this summer by Dave Ramsey and his daughter, includes the first two chapters of the book free. You can also sign up to receive weekly activities in your inbox.
- Raising Olives – This blog by a mother of 11 children has many useful articles regarding sibling friendships and teaching children to value people rather than posessions.
- Money Games from Kids.gov – Most online games for kids are the typical “how to count currency” type. This site includes links to sites where a child can develop a budget, design their own money, and learn about national debt. I’m filing this away for future use in our homeschool.