Last summer, we did a refresher post on Chores and Teaching Money Management. In mine and Mary’s households, we wanted to build in some type of money management structure because how money is handled now is vastly different than it was 30 years ago.
First, we don’t carry cash. I’m not actually sure how my kids think paying by card works. Any cash they directly receive comes from gifts and goes into a piggybank.
Second, I rarely give my kids the opportunity to spend money. That means, they don’t come with me running errands or stopping at Target. Whenever we do go shopping, or if we’re on vacation and they have the option to get a souvenir, they want EVERYTHING!!!
Obviously, how kids learn about money is going to be different from family to family. Learning about money management in school is also generally reserved for older kids. I remember a field trip we took in 8th grade about picking a job with a set salary and you had to make it through the month watching your budget and balancing your checkbook.
Through my work email, I got a Substack invite from Dr. Stephen Day, a Professor at Virginia Commonwealth University and Director of the VCU Center for Economic Education. He was hosting a webinar on how to use Bluey to teach kids economics. I loved this approach and his writing topics, so signed up for another webinar on Mini-Economy at Home.
Continue reading
Child(ish) Advice 