10 Ways to Teach Your Child About Money

In these tough economic times it's never to early to start teaching your child about money.
Things are a complete and utter mess! Grade school is a good time to start teaching your child about money since their usually learning about adding and subtracting at school. As they get older the lessons they learn now will sharpen there financial decision making skills.
Here are 10 tips to get you started..

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. 1.

Take your child shopping with you. Taking your child shopping can be a fantastic way to teach your child about money.
Tell your child the budget and make a game of staying under that set amount.
Use coupons and let your child help find items on sale.

2.
Give her an allowance each week.

Be sure to only reward them for doing there chores.

This will help them get into the habit of managing money. 3.

Always encourage saving money.

Have a special place to keep the money like a wallet or piggy bank.

You can have two separate jars one for saving and one for spending. 4.

Teach your child to be generous.

Always encourage your child to give.
Help him put money into perspective by giving to help others in need.
Remember Haiti. 5.
Be a good example for your child.
Your child is always watching you so what you do makes a difference. Never lie about what you bought to a husband or wife, and show them that spending time together is just as important as spending money.
6.
Play games that teach your child about money.
Get your whole family together to play board games such as Life and Monopoly.

You'll be able to spend more family time together and have fun as well.
7.

Talk about money with your child.

Children are often curious about things like how much things cost and they will ask some personal questions about that subject to you and others. Teach your child that its not nice to ask people how much things cost or how much they make.
8. Take your child to the bank with you. Open an account and explain how money will grow if its left in the bank.

9.

Limit TV time.
Commercials are very alluring to most adults so we can't expect our children to be able to resist the latest kid-gadget or toy.

10. Explain credit cards and ATM cards.
Talk to your child about the difference between the two and that if credit is not used wisely there are often serious consequences that go along with each purchase.

Interest and penalties! We all love our children and want the best for them. We should take nothing for granted and prepare them for the reality shock which is the world we live in!!! We are the best teachers they will ever have.