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Parents wear many hats when it comes to their children. We are doctors, taxi drivers, coaches, psychologists, bad cop/good cop, etc. The point is that throughout the course of our parenting journey, we will be many things for our children, but perhaps one of the most important “jobs” that we have as parents is being a teacher for our kids.
Yes, I know we send our kids to school for a reason, but I’m not talking about being a teacher in the traditional sense. I’m referring to the kind of teacher that teaches children important life lessons and one of the most important life lessons we can teach our kids is how to manage their money properly.
There are so many problems that stem from the mismanagement of money including: depression, alcoholism, gambling addictions, malnutrition, divorce, abuse, violent crimes and so much more. I’m willing to bet that the above problems are issues that none of you want to see your children struggle with. I know I don’t. Therefore, doesn’t it make sense that we take the time to teach our children about money management and the importance of saving?
While money management is something that all teenagers need to know, we can start teaching our children the importance of saving at a young age. The key to teaching young children about saving money is to make it fun for them. Below are a few ways that you can make saving money fun for your children:
Start a Silver Collection – I’m not quite sure what it is, but there this something magical about starting collections for children. When I was young I collected rocks, horse memorabilia, and all things Peanuts. My brother collected baseball, basketball and football cards. In fact, he had several thick binders full of these cards…