Money Concepts You Can Teach Preschoolers
Financial education is an important topic to introduce to kids, even those as young as preschool. Building a positive relationship with money when kids are young will go a long way toward their future success. The end goal is to develop financial literacy skills early and keep improving those skills throughout their youth.
Here are four simple ways to get even the littlest kids familiar with money:
Count coins. Preschool is the perfect age to have kids sort and count coins. Explain that each coin looks different because each holds a different value. Here’s an idea: set up a little grocery store and have them purchase food with their coins. Practice counting out more coins for big purchases and less for small ones.
Teach the value of money. Communicating the cost of items in stores will open their eyes to associating things with worth and instill a habit of checking prices. Take them on shopping trips, show them where prices are located, and tell them the cost of each item as you put it in the cart. Have them watch the total cost increase as items are scanned at checkout and hand the money to the cashier.
Tell stories. All kids love stories! Tell them about the price differences of candy and toys from when you were a kid. Talk about your first job, what you were paid and how much your bills were. Tell them about a financial hardship you went through and how you managed to overcome it.
Read together. There are many great children’s books about money. Take them on an adventure to your local library to borrow (instead of purchase) books about saving, spending, and wants vs. needs.
Use these basic lessons and discussions very early on to help your kids build a relationship with money. Get started now so you can give them the gift of being a money-savvy adult someday. That’s truly priceless! Visit our website for more money management resources!