10 Money facts your kids need to know!

2/25/2016

Money Matters: Financial IQ for kids beyond the basics

Like most of us, no one taught me about money when I was young. I would hear phrases like "you need money to make money" or "have your money work for you". Problem was that I grew up with limited resources. How do you get money in the first place so that you can have your money work for you? Then once you have it - how in the world do you make it work for you? These were questions I struggled with for years.

It is so important that our kids understand money and how it works. How many people have you known that get themselves in over their head because they simply didn't understand how money works. There are many articles on the web about save, spend, share but rarely do you find anything that goes beyond the basics. Teach your kids about money while they're young so they can succeed when they're old.

For the record by no means am I an expert but over my years I have come to understand some basic principles that I wish someone had taught me when I was young.

Teach your kids about money while they're young so they can succeed when they're old. Free printable with 10 money matters that your kids need to know. Includes easy to understand questions and answers. For example: What is simple interest? What is compound interest?

Personal Story: This past summer I was low on cash I asked my then 7 year old daughter if I could borrow $30 from her. (Just a reminder: As I am now living in a small town, most places won't take credit cards and an ATM isn't always available.)

She had worked hard for this money; frequently doing extra chores to earn a little more. She was very invested in her money as it had taken some time to earn. Her reply was that she would be happy to lend it to me but that she wanted me to pay her interest on the loan!

I was over the moon and more than happy to pay her interest. She was making connections about money, how money works and how she could make it work for her. It was a very proud mama moment for me.

10_money_facts_your_kids_need_to_know.docx
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I've added a MSWord docx file so you can download and share with your family. One idea is to review one Money Fact every night when you settle up on chores.

4 Comments

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Hi! I'm Robin

Welcome to Robin's Blog on NEATLINGS. Here you will find loads of stuff on chores for kids & lots of free printables.

Why Chores? I created a chore system for my kids that works amazingly! It's not like any chore system you've used before and it WORKS! So, with that you'll find lots of stuff on chores. Please check it out at our home page.

I really enjoy making printables for kids. They are fun for the kids, they are fun to make, and I enjoy making something that I can share, so I just keep at it. I hope you find some you enjoy too. If you signup for our newsletter you will get access to all of our FREEBIES! You will see the signup form at the bottom of our home page.

I'm a born and raised big city girl who decided to move to a small town so that my husband could follow his dreams of being a farmer. I'm not ready to move to a farm place as my husband would like but we compromised on a darling small town, with heartwarming people, a beautiful community, and an absolutely fabulous school. With the move I left my fortune 500 career and became a stay at home mom to my 3 wonderful children.

For the record I am not someone that loves chores or housework in fact it is quite the opposite I am not a very "domestic" gal but I love my children to all ends and because of that I strive to teach them everything they need and to cultivate contributing, confident, can-do kids!

`Robin B.

There are links on this site that can be defined as Amazon “affiliate links”. This means that I may receive a small commission (at no cost to you) if you make a purchase via one of those links .

Cheryl @ ReimerandRuby link

3/9/2016 10:32:34 am

I agree, kids should be taught about money even at young age, even the simplest things like you need coins to buy something, they're not given away for free. That's how we explain money to our kids, so they understand why we work as well to earn money to pay bills. Very informative post! #sharewithme

Robin link

3/9/2016 11:03:16 am

Hi Cheryl,

Thanks for reading my post. Yours is the first comment I have received on my blog. I am new to blogging. :) It's nice to know that someone has read something I wrote.

Mrs Tubbs link

3/9/2016 04:09:44 pm

Excellent post. It's really important to teach children good habits when they're young as it'll help them so much as they get older

Jenny link

3/15/2016 09:08:02 am

Always great to teach them young about finance and the things that wil help their future. Great post. Thanks for linking up to #ShareWithMe.

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10 Money facts your kids need to know!

Money Matters: Financial IQ for kids beyond the basics

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Hi! I'm Robin