Pumpkin Store

Teaching finance to young children:

Finance can get a daunting topic to discuss with your children, but there are ways you can make it fun and enjoyable!

• Count and learn about money; starting with coins
• Talk about wants vs. needs; I believe knowing the difference between wants and needs is the bases of a lifetime of good finance habits
• Play pretend store
• Be a good role model.  Even if you don’t think you have all of the answers, talking about the money decisions you make can have a positive impact. For ex, talk about why you choose certain brands or items at the grocery store.
• Have your child read the price of items at the store (either just recognize the numbers or read the whole price, depending on their development level).
• Pay with cash.  It is hard for children to see money being exchanged when a credit card it used.  For small purchases, pay with cash and have your child help count out the money.
• Allowance: giving your child an allowance is a great way to start helping them learn how to use and manage their own money.

Advice for giving an allowance

Additional Resources:

• Kids Who Bank
• Financial Friends Books