Fun Teaching Kids About Money

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Readiness is an important principle of all teaching. When teaching kids about money it is important to remember that they cannot learn what they are not ready to learn.

Young children learn primarily through their senses of touch, taste, smell, hearing and sight. Around the age of four or so they can be familiar with the texture and smell of money, and can do things like barter, without really understanding the concept behind what they do. These early experiences are the foundations upon which later learning rests.

By the age of six a girl who is given a purse or handbag as a gift will be delighted at the idea of carrying it around with her and will enjoy 'shopping' games. In some cases the enjoyment of such games never goes away even at advanced ages. But at six, shopping will be so vivid and sharp in a child's consciousness that she will readily learn currency denominations and concepts like thrift and value for money, even if she is unable to articulate exactly what it is that she knows. Articulation will come later, in a further cycle of learning.

Around the age of fourteen, in early adolescence, children are still learning through play, but beginning to think in more abstract terms. At this stage of readiness generations of people have learned to handle money through the board game, 'Monopoly'. It teaches many lessons of buying and selling, of collecting rentals and going bankrupt. In later life players may find themselves looking back on the board game, and relating it to real money matters.

Now it is possible to access hundreds of computer games that perform the same function. Some of them will also include the social interaction that was a feature of the board game. Many will target specific outcomes.

During later adolescence teaching kids about money can cover concepts like accountability, budgeting, prudence and responsibility. These hard lessons will hopefully carry on throughout life, but at adolescence they will have a keen edge when a learner takes on responsibility for running his own money management program.

About the Author:
Derrick Janson is an expert in Teaching Kids About Money. He has taught about teaching kids about money topics such as allowances, budgeting, saving money and making money for kids.



Article Originally Published On: http://www.articlesnatch.com


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