financially savvy children

You could use the example of you going out to work so to earn money so that you can buy things & that if he wants he could do a specific chore to earn money.

Dunno, but I'm sure there would be a book. Have you got a specialist bookstore that you can ask?

eta to make sense

Edited by Aliasmum

We tell the girls that if we don't go to work, we don't have money to buy them special things and even our food. When we started Hannah on pocket money it was initially work-based but she seemed to take that negatively and ended up saying things like "I don't want any money" so she didn't have to do the chores we had asked of her. Eventually we decided to remove the pressure (as we get her to help in other household jobs anyway) and just pay her 10c per year of age, per week. When she has $2 we take her to the $2 shop. She is getting the idea a lot now though and last time we went shopping we went to a garden shop and she was able to buy some flowers for planting for $3 (and then chose to spend another $1.50 on her sister! )

We have told Briona that she will start getting money when she turns 4.

As for showing Jake where your money comes from , maybe a diagram with pictures ?

eg -mummy goes to work (draw a building that says "work " )
- because she goes to work she gets "money " (box saying money )
-the money goes to the bank (draw building saying "bank ")
- and the bank gives the money to "mummy " (smiley face )
-then mummy uses the money and buys food, clothes and other things (maybe cut pics out of food etc )


and then show him that if mummy (or daddy ) doesn't work , they don't get money , and the bank cant give the money to them and they can't buy anything

Kelly, that is a fabulous idea, we did try something similar with Alia but it didn't work as it wasn't visual. Might give the jars a go

I havent really given McKayla pocket money on a regular basis yet but we talk about money a lot.

For example going to the shop. Show them the price tags. Then show them how you shop. She helps me with the shopping list. Then we go and I show her how we check all the "bad" stuff we dont want in and out of the good stuff price wise what we want.

Then when we pay I sometimes on purpose will pay with cash so she can see that it is actual money that you give over. She understands the concept of a card and that there is only so much money in there. (at her level).

She understands that Daddy has to go to work to actually earn money although I dont think she understands the actual concept of Daddy's job yet. She just knows he goes out of the house 5 days each week.

When we go to a market or some kind of place she gets money and can buy what she wants within reason. We show her how much she has and then when she find something if she has enough or not ect and then having to make a choice ect.

She got a piggy bank and knows that money goes into her account (she takes it to teh counting machine and takes the paper with her book to the counter).

I think for her age she understands a lot more and we just build it up more and more. I think from age 4 she most proprably might get a weekly allowance and can do with it what she wants. She loves saving however and giving money to her hungry elephant.

When bills come in and she fetch the mail we show her that this is the telephone account and she sees me pay it online and that I transfer money.

I think if you do it little bit by little bit every day on your day to day business if sinks in little bit by little bit.