Resources to Teach your Kids about Money, Honey

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The thing I didn't know before I became a parent is that 98% of my child's quirky (and/or annoying) habits will come directly from me. For example, my 2 ½ year-old refers to all forms of currency as not just money, but money-honey. The first time I heard her use this expression, I was slightly appalled. But then I figured out that she learned it from me. I pick a penny off the ground, put my debit card in my purse, or mention how expensive gas is and she automatically says, "It's money-honey, Mama."

She is acutely aware of money and I want to ensure her perception and eventual use of it will serve her well throughout her lifetime. The internet is chock-full of resources you can use to raise financially literate children. Here's a list of some of the better information, games, and tools I've found:

Preschoolers

1. Thrive by FiveTM: Teaching Your Preschooler About Spending and Saving - This website lists several free and easy activities you can use to teach your preschooler basic concepts about money.

2. Toys - Preschoolers have a difficult time understanding abstract concepts. You may consider getting them a simple piggy-bank or cash register to help develop their interest in how money is used.

Grade School

1. Mad Money - This interactive game allows kids to think through the choices they must make as they save, spend, and earn money.

2. KidsMoney.org - This entire website is pretty fantastic, but the link takes you to a list of games your child can play to learn about money.

3. Money Flash Cards - This useful and fun game teaches how to count coins and bills. This website also has a place you can create your own money-counting worksheets .

4. Keep the Change - This is not a pretty website, but the game is perfect for those kids who are looking for a slightly more challenging way to practice their money counting skills.

5. Kids.gov - List of cool games and interesting information for your elementary-aged child.

Teens

1. Teaching your Teen to Budget - A wonderfully comprehensive list of resources and advice to help your teen increase their understanding of financial issues.

2. Reality Check - This calculator gives teens an idea of the types of things they will need to budget for as they transition into adulthood.

3. TheMint.org - This is a super source of information, games, and challenges to learn about the more important concepts about money like compounding, debts, and checking accounts.

4. You're an Adult Now Webquest - This webquest encourages kids to begin thinking about how they will use money once they enter the "real world."

All-Ages

1. Give Your Child an Education in Finance - Whether your child is two or on their way to college, you'll find tips to help them be financially savvy.

2. Teaching Children Money Habits for Life - This article, from the University of Minnesota, can be purchased for $1.50 (plus $2.50 for shipping). I bought it and think it's fantastic, but there's a free preview you can check out to decide for yourself.

3. Kids and money - This is an amazing, amazing list of links to resources and tools for kids of all ages.

4. Money Savvy Pig - This unique piggy bank is divided into four sections - spend, save, donate, and invest.

5. Charity Navigator - In my opinion, generosity is a crucial part of being financially successfully. This website allows you and your children to evaluate different charities.

The intent of this article is to help expand your financial education. Although the information included may be relevant to your particular situation, it is not meant to be personalized advice. When it comes to investing, insurance and financial planning, it is important to speak to a professional and get advice that is tailored to your unique, individual situation. All investments involve risk including possible loss of principal. Investment objectives, risks and other information are contained in the Snider Investment Method Owner's Manual; read and consider them carefully before investing. More information can be found on our website or by calling 1-888-6SNIDER. Past performance is not indicative of future results.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Personal Finance , College

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