12 Ways for Kids to Learn the Value of Money

  1. Communicate with kids about the values concerning money, and how to save it, make it grow and how to spend wisely.

  2. As soon as young children can count, introduce them to money.

  3. Teach young children how to set goals.

  4. Kids need to be taught the difference between needs, wants and wishes.

  5. As a young person, indoctrinate yourself with accumulation (or savings) instead of spending (or consumption).

  6. Teach how to spend smarter at the local dairy or grocery store because that’s where most children have their first spending experiences.

  7. As a young person, plan your purchases in advance and then stick with it.

  8. Make spending decisions that are both good and poor and you need to encourage a proper discussion of the pros and cons before you start spending.

  9. Learn how to evaluate ads on TV, radio and print because you have to ask whether the product will really perform and do what it says and is the price really a sale price?

  10. As a young person, you may need to join a credit union rather than a bank.  Explore this further

  11. As a young person, remember that credit cards have a message – that is “SPEND”.

  12. As a young person you need to learn the dangers of borrowing and paying interest.

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