Is it ever too early to teach children about money?

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Many parents have been thrown in at the deep end with the schools being closed, home-schooling has certainly been interesting in my house!

As an accountant, a subject close to my heart is obviously money, and one of the best things you can do for your child’s education is to teach them about money!

You can start this from an early age, what toddler does not love to play shop? Exchanging goods for play money is a great way to introduce commerce. As they get a little older around 4-6 start building in small lessons in your day to day, ask them to count money out, let them press the buttons at the ATM, if they get money for birthdays or Christmas ask how much they would like to spend and how much they would like to save?

As soon as you can open a saving account in your child’s name, let them see you make regular deposits and help them understand the concept of interest and compounding.
Using a clear jar to collect coins is a great visual tool as the watch their money ‘grow’, you can then sort through the coins and take them to the bank!

At what age did you start teaching your child amount money?
#homeschooling #internationalchildrensday #money

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