The earlier you show the child the importance of money, the better. Because it has a way of making them financially savvy as they grow up.
It is very important to teach children about money and financial matters but to be honest as long as you give children pocket money, children at a very young age would care about anything concerning money. Children might find the money and financial talks really boring.
Read: The Need To Save Part of Your Income
So to catch their attention you need to make financial teachings fun and interesting for them.
Children are not really taught about money and financial literacy in school, so it is advisable as parents to let them know about the basics of money as they grow. Knowing the value of money is essential to financial literacy. Teach them about saving and spending. Show them how much things cost around the house. By doing this they know the worth of money.
Holiday period is a good time to show your children how to be financially prudent. Doing it during holiday periods keep them active even when they don’t have to think of school.
You could teach children about money by indulging them in monetary games. A good example of a monetary game is Monopoly. There are different cartoon themed monopoly board games you could get for kids.
It is fun and at the same time engaging. Put them through the board game and watch them display their financial strength and at the same time fascinated by the colours and cartoon characters.
You can also teach them by learning with them. There are various games and activities online for different age grades with enough resources the whole family can all learn from.
There are sing-along songs and animated videos, comic books which talk about savings, interests and every other thing that has to do with finance.
Surf the web for funny video clips for children that talk about money, or search for where you can get dvds on money that are fun for children.
As parents, you serve as guides, putting them through financial lessons and making them financially intelligent as they grow older.