Teaching Our Kids About Money

Teaching money to a five-year-old isn’t easy, though this post goes over the strategy we are using to have money lessons sink in at a young age, hopefully.

I want to give my kids a great life, but I don’t want to spoil them. That’s why we’re trying to get an early start to teach financial literacy in our house.

The point isn’t to strictly enforce the process at this point. It’s more to help him connect between doing work and making money.

How We’re Teaching our Kids about Spending, Investing, and Giving

At the end of the week, he puts $3 in the spending jar, $1 in the investing pot, and $1 in the giving jar. The jars are made of clear plastic to see the money adding up.

We purchased two individual stocks via the Robinhood app with his savings. This wasn’t his decision, but he also didn’t push back against the decision.

How We’re Teaching Stock Investing

Even though he hasn’t shown much interest in the stocks yet, he will ask to “see the numbers” occasionally. He currently has about $500 in his stock “portfolio”.

I explained that he could sometimes make extra money by helping out with side jobs. He’s been excited by this and occasionally asks to help out around the house.

How We’re Teaching Generosity

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