ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Teaching Children About Value Of Money

Updated on July 1, 2011
Teaching children about value of money - My daughter Shronika is just three year old and we have started teaching her about value of money.
Teaching children about value of money - My daughter Shronika is just three year old and we have started teaching her about value of money. | Source

Most parents want their children to learn about the value of money and make smart financial decisions as they grow, but in the absence of definitive resources in schools and communities, parents often teach their children themselves about money and how to manage personal finances.

In addition to doubting what and how to teach their children about money, it is likely that parents do not feel safe to teach their children about finances if not even sure themselves in that area.

Regardless of the security or the discomfort they feel in instilling good financial habits and teach their children or young people about money, the reality is that children learn from adults around them. Yes, it is true that your children learn financial habits by watching you. Several studies have revealed that even minimal financial education is beneficial for kids. Small choices and precautions taken now help your children acquire the knowledge and skills they need to have a solid economic future.

While there are no absolute rules on how to educate children about money, the sooner you teach them, the greater is the likelihood that they will feel secured when making financial decisions in the future. Both girls and boys need to learn the basics of money management: how to earn, how to save, how to spend, how to invest, how to budget, and how to make decisions that benefit themselves and ultimately their own families.

Age or time does not matter when you start teaching your kids about value of money, whether they are in school or about to graduate from college or starting job, they should learn how to make smart financial decisions utilizing their own wisdom.

Least but not last, you much always remember that teaching children about value of money is a long process and indeed, it is a journey that lasts a lifetime. Children will learn slowly over time and with continuous positive reinforcement of concepts through everyday conversations and actions, they will be able to make best financial decisions in their life.

Comments

    0 of 8192 characters used
    Post Comment

    • soni2006 profile imageAUTHOR

      Rajinder Soni 

      7 years ago from New Delhi, India

      That's a wonderful system KoffeeKlatch Gals. I will definitely institute this system in my home. Thank you so much for sharing this. Very Nice Idea.

    • KoffeeKlatch Gals profile image

      Susan Hazelton 

      7 years ago from Sunny Florida

      Ehen my children were growing up I gave them a set of little jobs or chores to do around the house. Each little job was worth so much money. We would keep a chart on the frige and they would get a star of heart for each job they completed. At the end of the week we would tally up the amount each job payed and they would recieve the money. It worked quite well for us. So well, my daughter uses the same system on her children.

    working

    This website uses cookies

    As a user in the EEA, your approval is needed on a few things. To provide a better website experience, hubpages.com uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

    For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at: https://hubpages.com/privacy-policy#gdpr

    Show Details
    Necessary
    HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
    LoginThis is necessary to sign in to the HubPages Service.
    Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
    AkismetThis is used to detect comment spam. (Privacy Policy)
    HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
    HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
    Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
    CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
    Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the googleapis.com or gstatic.com domains, for performance and efficiency reasons. (Privacy Policy)
    Features
    Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
    Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
    Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
    Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
    Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
    VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
    PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
    Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
    MavenThis supports the Maven widget and search functionality. (Privacy Policy)
    Marketing
    Google AdSenseThis is an ad network. (Privacy Policy)
    Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
    Index ExchangeThis is an ad network. (Privacy Policy)
    SovrnThis is an ad network. (Privacy Policy)
    Facebook AdsThis is an ad network. (Privacy Policy)
    Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
    AppNexusThis is an ad network. (Privacy Policy)
    OpenxThis is an ad network. (Privacy Policy)
    Rubicon ProjectThis is an ad network. (Privacy Policy)
    TripleLiftThis is an ad network. (Privacy Policy)
    Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
    Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
    Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
    Statistics
    Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
    ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
    Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)