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  1. Aug 3, 2021 · The audio portion of this episode was produced by Andee Tagle with engineering support from Neil Tevault. We'd love to hear from you. If you have a good life hack, leave us a voicemail at 202-216 ...

    • Start young. Although it’s never too late to develop good money habits, starting the conversation when children are young will make things easier down the line when the stakes are higher.
    • Talk about money. Talking comfortably about finances is an important part of helping kids developing a healthy relationship with money. “Talking about money can’t be relegated to a one-time conversation,” advises Lynne Somerman, a money coach and founder of The Wiser Miser.
    • Model responsible money habits. Kids look to parents for cues on how to behave — and money management is no exception. A big part of teaching kids good financial habits is making sure you’re modeling them yourself.
    • Allowance. One of the most common ways to introduce kids to the idea of responsible spending is by giving them an allowance. How much you give is up to you, but any amount can be a great way to teach kids money basics.
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  3. Jul 16, 2023 · Teaching Ages 2 and 3 About Money. Very young children won't fully understand the value of money, but they can start getting introduced to it. A fun way to do this is to learn the names of coins ...

    • 57 sec
  4. There’s also an opportunity to talk about money while your young child is playing “store.”. If he’s using pretend money, you could talk to him about how money works and the value of bills and coins. He might not grasp everything you say in that moment, but you’ll be sending a signal that money is important and worth understanding.

  5. Jun 26, 2023 · Teaching kids about money at ages 6-8. By this age, kids are starting to develop a deeper understanding of how money works. They understand that grown-ups have jobs to make money and that much of ...

    • Meghan Moravcik Walbert
  6. Jun 10, 2021 · To be honest, I think you should keep things simple. Here’s a few pointers to help: Keep it age-appropriate (which really means, development-appropriate, as kids develop at varying speeds) Keep it in context. Wrap money conversations around THEIR money goals, whenever possible. Remember: “connect before correct”.

  7. Apr 29, 2022 · Using physical cash is much more effective in teaching kids about the value of money," Everett says. "For kids under 8 years of age, coins are the most effective because of the differences in size ...

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