So in the comments of yesterday's post, Katie brought up a great point about kids and money--that teaching younger kids about money and budgeting can be tricky, and I think that sometimes, if not done the right way, it can really stress kids out more than make them understand the basics of budgeting and living within our means, which is hopefully the goal. And I thought her comment was right on--it's a fine line to walk!
And then, there was that anonymous comment, which was just really so absurd I don't even have words to address it or the energy to be upset about it. But once again, it got me thinking about kids and money...and I think there are probably a lot of different approaches that families take when it comes to talking and teaching their kids about money, and I'd like to talk some more about it.
I had one friend who, even in high school, was required to save a certain percentage of her paycheck, to give a certain percentage of her paycheck to charity, and then could only spend what was left. I had some friends who received allowances, and some friends who didn't. Some who were expected to pay for their car insurance and some who weren't. Some who basically paid for everything once they started working, and some whose jobs were really just for "fun money."
Anyway, my point is that there are LOTS of different approaches to teaching kids about money and budgeting...and I'm sure those approaches also vary based on the ages of the kiddos. I'm curious if you all have thought about what approach you'll take with your kids (real kids or hypothetical!). So, today's burning question of the day is:
How do you plan to teach your kids about money and budgeting from birth to 5th grade?