Money Money Money

Teaching your children about money is one of the important tasks that you, as a parent, should carefully consider. Many children grow up without realizing the true life cycle of money. When a child is old enough to understand, you need to begin training them about where money comes from and where money goes within a household. No child should enter into adulthood without fully understanding the financial requirements and financial management techniques that are necessary for being successful in maintaining independence.

The Thrifty Mommy has laid out a plan for providing your child with a proper financial education without overburdening them with worry and concern for the family's welfare.

Thrifty Mommy gives 10 suggestions for financial education that are well worth your attention. I do want to add a few touches to her already wonderful suggestions.

1) Children should also be involved with creating a weekly menu and a shopping list to take with them to the grocery store when they are old enough to do so.

2) Introduce your child to yard sales, consignment sales, and thrift stores. Teach them how reusing things can also be Earth friendly, as well as finance friendly.

3) I whole heartedly agree that allowance should not be tied to chores. My personal experience has shown that if you find yourself to be in financial difficulties that prevent you from paying allowance, your children will decide that they no longer need to do chores because they are not getting paid for it. Yeah - avoid that connection in order to save yourself a lot of frustration later.

I love all the comments that Thrifty Mom has in her posting about money. She has a good grasp of what kids need to know in order to understand what it takes to manage a household.