01 August 2009

All about the Benjamins

Here's a post with a lot of good resources on teaching kids about money.

We obviously haven't done any formal personal finance curriculum (although in a few years that will probably change). We do give her a very small allowance (75 cents/week) and have been teaching her to divide it into 3 containers: save, give, and spend.

Whenever we're in a store and she wants something, it's very freeing to be able to say, "Sure, you can have it. Do you have enough money?" Inevitable, her money isn't with her, or she doesn't have enough, and soon she has forgotten what she even wanted in the first place. She has bought a few things, mostly from the dollar bins at Target, and I think she's starting to realize the fleeting nature of material objects. It's never quite as good at home as it looks at the store. Good lesson to learn!

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