The Edvocate

Top Menu

Main Menu

  • Start Here
    • Our Brands
    • Governance
      • Lynch Educational Consulting
      • Dr. Lynch’s Personal Website
      • Careers
    • Write For Us
    • Books
    • The Tech Edvocate Product Guide
    • Contact Us
    • The Edvocate Podcast
    • Edupedia
    • Pedagogue
    • Terms and Conditions
    • Privacy Policy
  • PreK-12
    • Assessment
    • Assistive Technology
    • Child Development
    • Classroom Management
    • Early Childhood
    • EdTech & Innovation
    • Education Leadership
    • Equity
    • First Year Teachers
    • Gifted and Talented Education
    • Parental Involvement
    • Policy & Reform
    • Special Education
    • Teachers
  • Higher Ed
    • Best Colleges and Universities
    • Best College and University Programs
    • Diversity
    • HBCU’s
    • Higher Education
    • Higher Education EdTech
    • International Education
  • Advertise
  • The Tech Edvocate Awards
    • The Awards Process
    • Finalists and Winners of The 2022 Tech Edvocate Awards
      • Finalists and Winners of The 2021 Tech Edvocate Awards
      • Finalists and Winners of The 2020 Tech Edvocate Awards
      • Finalists and Winners of The 2019 Tech Edvocate Awards
      • Finalists and Winners of The 2018 Tech Edvocate Awards
      • Finalists and Winners of The 2017 Tech Edvocate Awards
    • Award Seals
  • Apps
    • GPA Calculator for College
    • GPA Calculator for High School
    • Cumulative GPA Calculator
    • Grade Calculator
    • Weighted Grade Calculator
    • Final Grade Calculator
  • The Tech Edvocate
  • Post a Job
  • AI Powered Personal Tutor

logo

The Edvocate

  • Start Here
    • Our Brands
    • Governance
      • Lynch Educational Consulting
      • Dr. Lynch’s Personal Website
        • My Speaking Page
      • Careers
    • Write For Us
    • Books
    • The Tech Edvocate Product Guide
    • Contact Us
    • The Edvocate Podcast
    • Edupedia
    • Pedagogue
    • Terms and Conditions
    • Privacy Policy
  • PreK-12
    • Assessment
    • Assistive Technology
    • Child Development
    • Classroom Management
    • Early Childhood
    • EdTech & Innovation
    • Education Leadership
    • Equity
    • First Year Teachers
    • Gifted and Talented Education
    • Parental Involvement
    • Policy & Reform
    • Special Education
    • Teachers
  • Higher Ed
    • Best Colleges and Universities
    • Best College and University Programs
    • Diversity
    • HBCU’s
    • Higher Education
    • Higher Education EdTech
    • International Education
  • Advertise
  • The Tech Edvocate Awards
    • The Awards Process
    • Finalists and Winners of The 2022 Tech Edvocate Awards
      • Finalists and Winners of The 2021 Tech Edvocate Awards
      • Finalists and Winners of The 2020 Tech Edvocate Awards
      • Finalists and Winners of The 2019 Tech Edvocate Awards
      • Finalists and Winners of The 2018 Tech Edvocate Awards
      • Finalists and Winners of The 2017 Tech Edvocate Awards
    • Award Seals
  • Apps
    • GPA Calculator for College
    • GPA Calculator for High School
    • Cumulative GPA Calculator
    • Grade Calculator
    • Weighted Grade Calculator
    • Final Grade Calculator
  • The Tech Edvocate
  • Post a Job
  • AI Powered Personal Tutor
  • Cognitive Development Essay Topics

  • Army Essay Topics

  • Civilization Essay Topics

  • Research Topics about Electoral College

  • Essay Topics on Elder Abuse

  • Research Topics About Edgar Allan Poe

  • Research Topics about Ebola

  • Good Research Topics about Music Therapy

  • Simple & Easy Music Essay Topics

  • Good Essay Topics on Modernization Theory

Parenting
Home›Parenting›Teaching Kids about Money: An Age by Age Approach

Teaching Kids about Money: An Age by Age Approach

By Matthew Lynch
March 28, 2018
0
Spread the love

You want your children to enter the real world with a solid grasp on their finances. Experts have claimed that teaching young children the basics of money can ultimately lead to a brighter financial future. While you may want to teach your child about money, you know that doing so in an age-appropriate way is essential if you want the lesson to stick.

Do you struggle to figure out what’s age-appropriate to teach your child about money? Here’s an age-by-age approach to help you build up your child’s financial skills from kindergarten through high school.

Ages 4 to 8

At this age, children aren’t always capable of doing detailed math equations to calculate their return on investment. Instead, it’s a great time to begin teaching them the basics of how to save and earn money on their own.

Start by giving your child their very first piggy bank to encourage them to make a wise investment with birthday money, Christmas money, and allowance. Talk about what they want to purchase with their funds and how long it will take for them to earn enough money. If your child is motivated by seeing the numbers, you can help them calculate it how long it will take.

You may also start to give them an opportunity to earn their own money for simple chores. This is a great way to bolster their piggy bank regularly so they don’t grow bored with the process of saving money.

Ages 9 to 13

Children are starting to develop the ability to compare and contrast items with greater attention to detail. By this age, you can start teaching your child how to become a smarter spender. The grocery store is often the best place to demonstrate the difference between purchasing different name brands, particularly when it comes to cost.

You can give your child some freedom over this particular decision by giving them a list and a budget. They will have to determine which items they can purchase using the money allotted for their grocery trip. Parents may need to assist them at younger ages so they don’t become overwhelmed by the process.

Ages 14 to 16

In the early teenage years, parents need to ensure that their children aren’t going to fall prey to plastic credit cards. Many children will immediately sign up for credit cards when college approaches without understanding the inherent dangers of buying something they can’t afford. You can preemptively teach those dangers now by allowing your child to have a debit card that you control. Teach them how to monitor the amount of money on the card, and discuss what may happen if they buy something they can’t afford.

This is also a ripe age to revisit the idea of a savings account. Teenagers have lots of things they could save for, such as a car or college. Help them to portion out their income so that a percentage of it goes into savings each month.

Ages 17 to 18

If your child has a part-time job, it’s time to teach them how to manage their bills. Giving your child small bills to pay, such as their own car insurance or phone bill, gives them some responsibility. This can pay huge dividends when it comes to their financial responsibility years down the road. They will already be aware of the importance of paying their bills, managing those payments in a timely manner, and setting aside funds to cover them.

Teaching your children about money is a slow process, but it’s worth the time investment. Your children will enter the world knowing how to responsibly pay their bills, invest their money, and manage their budget. These skills can help them avoid massive debt and allow them to live more comfortably.

Consider the age of your children to figure out what you can start doing now to prepare them for adulthood. Playing money-based games like Monopoly and simply discussing your own money mistakes can help immensely. What simple steps could you take today to start teaching your children about money management?

 

Previous Article

What Your Child Should Learn in 9th ...

Next Article

Pass or Fail: Early Intervention and School ...

Matthew Lynch

Related articles More from author

  • Adult EducationAsk An ExpertAssessmentAssistive TechnologyBlack Boys in CrisisBullyingChild DevelopmentClassroom ManagementDisabilitiesEarly ChildhoodEarly Childhood & K-12 EdTechEdTech & InnovationEdTech FuturesEdTech Startups & BusinessesEducation LeadershipEducation NewsElementary EducationElementary SchoolEquityFeaturedFirst Year TeachersFreshGamificationGifted and Talented EducationHigher EducationHigher Education EdTechK-12Middle SchoolModern ParentingOnline Learning & eLearningOpEducationParental InvolvementParentingPersonalized LearningPodcastPolicy & ReformRetention & Social Promotion SeriesSpecial EducationSTEMTeacher EducationTeachersTestingYear-Round Schooling

    The Edvocate Podcast, Episode 3: Why Teacher Shortages Occur

    September 14, 2018
    By Matthew Lynch
  • Modern ParentingParenting

    What Foods Can Make Your Child Smarter?

    February 20, 2018
    By Matthew Lynch
  • pass or fail
    Child DevelopmentModern ParentingParenting

    Four Reasons Why Kids Should Play Sports

    November 18, 2017
    By Matthew Lynch
  • ParentingTeachers

    51 Books That Teach Kids Social Skills

    July 23, 2021
    By Matthew Lynch
  • Parental InvolvementParenting

    Neglectful Parenting Style: Everything You Need to Know

    July 1, 2022
    By Matthew Lynch
  • Parental InvolvementParenting

    Instead of Complaining, Schools Should Show Parents How to Engage in Their Child’s Education

    March 22, 2019
    By Matthew Lynch

Leave a reply Cancel reply

Search

Registration and Login

  • Register
  • Log in
  • Entries feed
  • Comments feed
  • WordPress.org

Newsletter

Signup for The Edvocate Newsletter and have the latest in P-20 education news and opinion delivered to your email address!

Subscribe to The Edvocate Podcast

Apple PodcastsGoogle PodcastsAndroidby EmailRSS
  • Recent

  • Popular

  • Comments

  • Cognitive Development Essay Topics

    By Matthew Lynch
    February 5, 2023
  • Army Essay Topics

    By Matthew Lynch
    February 5, 2023
  • Civilization Essay Topics

    By Matthew Lynch
    February 5, 2023
  • Research Topics about Electoral College

    By Matthew Lynch
    February 5, 2023
  • Essay Topics on Elder Abuse

    By Matthew Lynch
    February 5, 2023
  • 18 Reasons the U.S. Education System is Failing

    By Matthew Lynch
    April 3, 2017
  • The Top 5 Unexpected Benefits of Early Childhood Education

    By Matthew Lynch
    February 29, 2016
  • 7 Benefits of STEM Education

    By Matthew Lynch
    January 12, 2019
  • What is Culturally Responsive Pedagogy?

    By Matthew Lynch
    April 21, 2016
  • pass or fail

    Black Boys in Crisis: Why Aren’t They Reading?

    By Matthew Lynch
    January 16, 2017
  • School Evaluation For Special Education What Parents Need to Know
    on
    December 27, 2022

    A Guide to Norm-Referenced Tests

    […] Norm-referenced tests – ...
  • Effectively Educating Diverse Student Populations: Strategies That Work - Applead Hofu
    on
    December 21, 2022

    6 Ways to Implement a Real Multicultural Education in the Classroom

    […] as to successfully ...
  • The Importance Of Sight Words In Early Reading – GoGreenva.org
    on
    December 21, 2022

    Understanding Letter Recognition and It’s Role in Preliteracy

    […] between letters, numbers, ...
  • Online Education in Chennai - Birla Brainiacs
    on
    December 20, 2022

    The Advantages and Limitations of Homeschooling

    […] Online Education in ...
  • Advancing Technology Education in Rural High Schools Across ... - The Tech Edvocate - VSAY .IN
    on
    December 20, 2022

    7 Ways Technology Is Impacting Modern Education

    […] technology advancements have ...

Ask an Expert

  • Ask An Expert

    How Dumbed Down Education Is Creating a National Security Crisis

    Spread the loveFor the past few decades, our country’s educational system has seen both struggle and tremendous change. With the various ailments plaguing our educational system, education reforms have attempted ...
  • Ask An Expert

    21 Inspirational Quotes That Nelson Mandela Made About Education

    Spread the loveWe all have our heroes. Those human beings that seem larger than life and almost achieve Godlike status. One of my heroes is the late-great Nelson Mandela, who ...
  • Ask An ExpertAssistive TechnologyCareer ReadinessChild Development TechClassroom ManagementDigital & Mobile TechnologyDigital LeadershipDisabilitiesDiversityEarly ChildhoodEarly Childhood & K-12 EdTechEdTech & InnovationEducation LeadershipElementary EducationElementary SchoolEquityFirst Year TeachersFreshHigh SchoolK-12Middle SchoolModern ParentingParent & Family TechParental InvolvementParentingPersonalized LearningPodcastPolicy & ReformPreK-12Special EducationSTEMTeacher EducationTeachers

    The Edvocate Podcast, Episode 7: How Digital Age Teachers Can Win Over Parents

    Spread the loveEducation is a collaborative process, as it takes many stakeholders working in unison to help students succeed academically. One of the most integral parts of this collaborative team ...
  • Ask An ExpertAssessmentAssistive TechnologyBlack Boys in CrisisChild Development TechClassroom ManagementDigital & Mobile TechnologyDigital LeadershipDisabilitiesEarly ChildhoodEarly Childhood & K-12 EdTechEdTech & InnovationEdTech Policy & ReformEducation LeadershipElementary EducationElementary SchoolEquityFeaturedFirst Year TeachersFreshGamificationGifted and Talented EducationHBCU'sHigh SchoolHigher EducationK-12Online Learning & eLearningOpEducationPersonalized LearningPodcastPolicy & ReformRetention & Social Promotion SeriesSpecial EducationSTEMTeacher EducationTeachersTesting

    The Edvocate Podcast, Episode 6: 8 Ways That Digital Age Teachers Avoid Burning Out

    Spread the loveBeing a teacher is a tough job. So much so, many new teachers end up leaving the field within their first three years. To ensure that the next ...
  • Ask An ExpertAssessmentAssistive TechnologyBlack Boys in CrisisBullyingChild DevelopmentChild Development TechClassroom ManagementCurrent Ed NewsDigital LeadershipEarly ChildhoodEarly Childhood & K-12 EdTechEdTech & InnovationEdTech Policy & ReformEdTech Startups & BusinessesEducation LeadershipEquityFeaturedFirst Year TeachersFreshGamificationGifted and Talented EducationHBCU'sHigh SchoolHigher EducationHigher Education EdTechK-12Matthew LynchModern ParentingOnline Learning & eLearningOpEducationPersonalized LearningPodcastPolicy & ReformRetention & Social Promotion SeriesSpecial EducationSTEMTeacher EducationTeachersTestingYear-Round Schooling

    The Edvocate Podcast, Episode 5: The Archetype of a Great Teacher

    Spread the loveOne of the questions that I am frequently asked is, what does a good teacher look like? I respond by mentioning my 10th-grade Biology teacher, Mrs. Minor, and ...

International Education

  • International Education

    PISA (The Program for International Student Assessment): Everything You Need to Know

    Spread the loveThis program assesses 15-year-old students schooling in countries that form part of the Organization for Economic Cooperation and Development.  The evaluated skills include science, math, and reading. Some ...
  • Education FoundationsInternational Education

    4 Reasons You Should Study Geography

    Spread the loveUsually, people are under the wrong impression that geography does not offer many job opportunities, and there are no jobs for a geographer. They think that studying geography ...
  • International Education

    How International Baccalaureate (IB) Programs Work

    Spread the loveThe International Baccalaureate Program is a very intensive pre-college program in which when students get involved, they get college credit. Unlike most other learning initiatives, this program deeply ...
  • International Education

    Globalization: Everything You Need to Know

    Spread the loveGlobalization is the growing interconnectedness of countries around the world. It involves increasing communication and various forms of interaction between people of different nations, ethnicities and cultures. There ...
  • AssessmentEducation LeadershipHigher EducationInternational EducationProfessional DevelopmentTeachers

    So You Want to Attend Graduate School: The 411 on Grad School Admissions Tests

    Spread the loveApplying for admission to professional and graduate schools is no less competitive than college/undergraduate admissions. If you’re planning to pursue a degree in business, law, medicine, or graduate ...

Early Childhood Education

  • Early ChildhoodTeachers

    20 Strategies to Encourage Students to Take Care of their Personal Property

    Spread the loveAre you looking for strategies to encourage students to take care of their personal property? If so, keep reading. 1. Praise the learner for appropriate care of personal ...
  • Early ChildhoodTeachers

    14 Strategies to Teach Students Appropriate Mealtime Manners

    Spread the loveAre you looking for strategies to teach students appropriate mealtime manners? If so, keep reading. 1. Praise the learner for demonstrating appropriate mealtime behaviors: (a) give the learner ...
  • Child DevelopmentEarly Childhood

    22 Strategies to Help Students Who Cannot Fasten Their Own Clothes

    Spread the loveAre you looking for strategies to help students who cannot fasten their own clothes? If so, keep reading. 1. Select a peer to model fastening pieces of clothing ...
  • Critical Thinking and CreativityEarly Childhood

    14 Ways to Teach Kids to Improve Their Critical Thinking Skills

    Spread the loveAre you looking for ways to teach kids to improve their critical thinking skills? If so, keep reading. 1. Establish a time each day for a problem-solving game, ...
  • Early ChildhoodReading Education

    Echo Reading: Everything You Need to Know

    Spread the loveEcho reading is a reading tactic employed by adults when teaching children. Here, the adult articulately reads out a portion of text, following which the child echoes the ...

Gifted and Talented Education

  • Gifted and Talented Education

    Twice-Exceptional: What Does it Mean?

    Spread the loveTo be twice-exceptional is to be exceptionally gifted in some academic aspects while being below average compared to peers in other aspects. As a matter of fact, such ...
  • Gifted and Talented Education

    A Guide to Talent Search Programs

    Spread the loveThe Talent Search Initiative has as its aim; the identification of high-performing students by organizing specific tests. Different avenues are then provided for these students to channel their ...
  • Gifted and Talented EducationK-12

    Homogeneous Grouping: What You Need to Know

    Spread the loveThis term refers to the grouping of students by mental capability, aptitude, or hobbies. For instance, gifted students are placed in one group, and students with special needs ...
  • Gifted and Talented Education

    Cluster Grouping: What You Need to Know

    Spread the loveThis term describes a manner of classifying gifted students to place them in properly segmented classrooms. For example, about five to seven extremely bright pupils with comparable skill ...
  • Gifted and Talented EducationHigher Education

    Merit Scholarships: Everything Your Need to Know

    Spread the loveThese are monetary gifts awarded by institutions to superbly gifted students, who have set themselves apart by their exceptional performance in schoolwork, regardless of whether they require the ...

Black Boys in Crisis Series

  • Black Boys in Crisis

    The Importance of Mentoring Young African-American Males

    Spread the loveTeachers need to realize that at home, in their neighborhoods, and in school, many students face difficulties that can interfere with learning. Compared to their middle-class counterparts, it ...
  • Black Boys in CrisisDiversityEquity

    7 Ways That Black Students are Discriminated Against in U.S K-12 Schools

    Spread the loveAfrican Africans have a long history of being mistreated in the United States, starting with slavery. It should come as no surprise that their children face the same ...
  • Ask An ExpertAssessmentAssistive TechnologyBlack Boys in CrisisChild Development TechClassroom ManagementDigital & Mobile TechnologyDigital LeadershipDisabilitiesEarly ChildhoodEarly Childhood & K-12 EdTechEdTech & InnovationEdTech Policy & ReformEducation LeadershipElementary EducationElementary SchoolEquityFeaturedFirst Year TeachersFreshGamificationGifted and Talented EducationHBCU'sHigh SchoolHigher EducationK-12Online Learning & eLearningOpEducationPersonalized LearningPodcastPolicy & ReformRetention & Social Promotion SeriesSpecial EducationSTEMTeacher EducationTeachersTesting

    The Edvocate Podcast, Episode 6: 8 Ways That Digital Age Teachers Avoid Burning Out

    Spread the loveBeing a teacher is a tough job. So much so, many new teachers end up leaving the field within their first three years. To ensure that the next ...
  • Ask An ExpertAssessmentAssistive TechnologyBlack Boys in CrisisBullyingChild DevelopmentChild Development TechClassroom ManagementCurrent Ed NewsDigital LeadershipEarly ChildhoodEarly Childhood & K-12 EdTechEdTech & InnovationEdTech Policy & ReformEdTech Startups & BusinessesEducation LeadershipEquityFeaturedFirst Year TeachersFreshGamificationGifted and Talented EducationHBCU'sHigh SchoolHigher EducationHigher Education EdTechK-12Matthew LynchModern ParentingOnline Learning & eLearningOpEducationPersonalized LearningPodcastPolicy & ReformRetention & Social Promotion SeriesSpecial EducationSTEMTeacher EducationTeachersTestingYear-Round Schooling

    The Edvocate Podcast, Episode 5: The Archetype of a Great Teacher

    Spread the loveOne of the questions that I am frequently asked is, what does a good teacher look like? I respond by mentioning my 10th-grade Biology teacher, Mrs. Minor, and ...
  • Ask An ExpertAssistive TechnologyBlack Boys in CrisisBullyingChild DevelopmentChild Development TechClassroom ManagementDisabilitiesDiversityEarly ChildhoodEarly Childhood & K-12 EdTechEdTech & InnovationEdTech Policy & ReformEducation LeadershipElementary EducationElementary SchoolEquityFeaturedFirst Year TeachersFreshGifted and Talented EducationHigh SchoolHigher EducationHigher Education EdTechK-12Middle SchoolModern ParentingOnline Learning & eLearningParent & Family TechParentingPersonalized LearningPodcastPolicy & ReformSecondary EducationSTEMTeacher EducationTeachersTesting

    The Edvocate Podcast, Episode 4: How to Create a Culturally Responsive Classroom

    Spread the loveBuilding a culturally responsive classroom is hard. To help you along your journey, here is your guide to exploring and respecting the cultural backgrounds of your students while ...

RSS Matthew on Education Week

  • Au Revoir from Education Futures November 20, 2018 Matthew Lynch
  • 6 Steps to Data-Driven Literacy Instruction October 17, 2018 Matthew Lynch
  • Four Keys to a Modern IT Approach in K-12 Schools October 2, 2018 Matthew Lynch
  • What's the Difference Between Burnout and Demoralization, and What Can Teachers Do About It? September 27, 2018 Matthew Lynch
  • Revisiting Using Edtech for Bullying and Suicide Prevention September 10, 2018 Matthew Lynch

About Us

The Edvocate was created in 2014 to argue for shifts in education policy and organization in order to enhance the quality of education and the opportunities for learning afforded to P-20 students in America. What we envisage may not be the most straightforward or the most conventional ideas. We call for a relatively radical and certainly quite comprehensive reorganization of America’s P-20 system.

That reorganization, though, and the underlying effort, will have much to do with reviving the American education system, and reviving a national love of learning.  The Edvocate plans to be one of key architects of this revival, as it continues to advocate for education reform, equity, and innovation.

Newsletter

Signup for The Edvocate Newsletter and have the latest in P-20 education news and opinion delivered to your email address!

Contact

The Edvocate
5322 Markel Road, Suite 104
Richmond, VA 23230
(601) 630-5238
[email protected]

Follow us

Copyright (c) 2023 Matthew Lynch. All rights reserved.