Julie Peters Smith
Published on September 17, 2014
START TAkin AoT onE HiE THERE on A s parents, we recognize the importance o mathematical knowledge in today’s world. We encourage our children to succeed in math and hope that they’ll use those skills to manage their personal nances when they reach adulthood. Children usually recognize the importance o money and its infuence at an early age when they begin to count their rst pennies and nickels to make a small purchase, such as a toy. With these early experiences come opportunities or parents to teach important lessons about saving, spending, and giving. The key to providing our children with the tools or responsible money management is to begin talking about money while they’re still young. To help you get started, please enjoy these activities and ideas with your amily. Remember that children will probably make nancial mistakes on their road to adulthood, but with consistent positive support and sound lessons about money, they will realize that they have the ability to successully manage their own nancial utures! Fr chldre grades k–2: • Talk to your child about how we use money to buy things that we need (like ood) and things that we want (like a toy). • Share with your children the ways you give your time or money to those less ortunate and invite them to participate in the ways that you give to others in need. • Talk to your child about earning money and your job or the jobs o other amily members. • Introduce the idea o an allowance or completing small chores like setting the table. • Give your child a piggy bank or special box to save money or things that they want. Fr chldre grades 3–5: • Involve children in routine shopping trips and show them the value o using coupons or comparing prices to nd the best deal. • Talk about spending limits and how you make decisions between purchasing needs and purchasing wants. • Consider opening a savings account or your child and have your bank representative talk about how money in a savings account is sae and can grow (the concept o interest). • Discuss charitable giving and how proper budgeting can create opportunities to help others. iDEAS To START THE ConVERSATion SCHOLASTIC and associated logos are trademarks and/or registered trademarks o Scholastic Inc. All rights reserved. Photo: © K idStock/Media Bakery.