Kids and Money
As my son just turned 18 months, he’s still a little too young to understand and appreciate the value of money. But it’s still on my mind about how I’m going to teach him to appreciate and value the importance of money and money saving tips as he gets older. While I’m sure that things are destined to change as time progress, here are a few of the things that I feel will be beneficial when he is old enough to appreciate:
1. Show Them What You’re Working With
Currently my wife and I used a basic Excel spreadsheet to keep track of all our monthly expenses and our monthly cash flow. I think it will be truly beneficial to sit down with our son to kind of show him what we have coming in versus what we have coming out. We would then show him what we contribute towards our savings account, what we tithe, and also retirement savings. That way we show him that every dollar that comes in is not spent, and a good chunk goes toward either the savings account or saving for his college education. […]
