Teaching kids about money can be challenging – it’s a pretty abstract concept, especially since kids rarely see people using actual cash these days!
Also teaching kids about money and how to make efficient money decisions can be a really stress-inducing thought. If you as an adult have any money stress , the thought of teaching your children about it may in fact cause you anxiety and it can be for many reasons.
Maybe you are great with money, and worry that your kids won’t be. Maybe you are not so great with money, and worry that you don’t have the skills to teach your kids how to be money smart. Furthermore you maybe feel stressed and you are worried that you will pass this anxiety to your children.
Regardless of how we feel about money, we as parents, have the responsibility to teach our kids not only how to make and save money, but also how to spend it.
There are many fun ways to teach them about money.

For example younger kids can play the play shop game and we as buyers show them the meaning of money with exchange fruits with money from a monopoly game.

Monopoly game is also a good way to start with older children.

In my family we have the tradition to keep the money from grandma and other relatives in a wallet for kids. The money in the wallet is not allowed to spend them only save them.

Another way l choose to teach them about money is when they want something to buy… And believe me this happens very often. So l wait some days until we buy what they asked for, but we try to make sure that is about needs and not wants, because they have to understand that money is limited.

I am thinking what would have happened if l had no knowledge and if l had no financial background. But apart from that our families is the first school where we learn to manage money. I was raised by my grandmother and as she had hard experiences in her childhood, she tried to make us think wise about money.

It’s never too late to start teaching your children with a fresh perspective.