Teaching children about money with M is for Money #MisforMoney @MisforMoneyCA

As soon as children realize money has value and will get them the things they want, they start to show an interest. I can clearly remember when my oldest son first had money and went to the store. It took him quite some time to decide what he was going to spend it on. He just could not make a commitment without regret yet it was burning a hole in his pocket. Then when he finally made a purchase, he was upset about a tax being charged. We literally had to do a crash course on money in the check-out aisle of the store. Now three of my kids are grown and know all about money, but there is still one learning.

My seven year old loves having her own money. She is showing a real interest in learning more about it and saving for something special. Every birthday she is sent money from her grandparents, uncle in England and other family members. She finds money in the laundry when she helps with chores and often asks to keep the change when shopping with me. She doe snot get an allowance but does receive money for certain chores that are not the day to day usual. She also is getting quite a bit of coins, usually toonies from the Tooth fairy. At Christmas we bought her a piggy bank so she could save her money. In no time she saved over a hundred dollars in coins and small bills. She is often found in her room counting her money and sorting it. At this age I find it really helps develop her math skills.

When asked what she wants to buy, she never really says more than a pack of gum.

She is the perfect age to learn more about money. She can tell the difference between different coins and bills and often is looking to trade for higher currency. Recently I was sent a fun set of books to help teach her about money.

M is for Money

M is for Money provides parents and teachers the tools they need to start important conversations about money early. The books, aimed at kids 5-9, follow the adventures of seven year old twins Tessa and Benji as they learn about Canadian currency, budgeting, visiting a bank, saving and more. The complete series is available at www.misformoney.ca or at Indigo/Chapters across Canada.

M is for money

With 9 books in the series your children can learn all about money in a fun way directly from children like them. The story settings are very relatable and interesting to children. Situations and scenarios your children will find themselves in with the opportunities to have small amounts of money. My daughter was excited to learn about different amounts of money, chores she could do and ways she could save. The large print is easy for new and young readers. The book has fun pictures as well as some work sheets to help your child learn.

It is never to early to talk to your children about money. Doing so in a fun and informative way is better than waiting until they are old enough to be paying bills and forgetting the fun. Teaching them early build skills and good habits with saving and spending. Habits they will carry on throughout their lives.

Talk with your kids bout Money

April 20th is talk with your kids about money day

Get he conversation started with your children regarding money.  Teach them to build knowledge and have the tools they will need to make decisions about their finances as they grow. Visit talkwithourkidsaboutmoney.com for free tools and more information.

M is for Money

The M is for Money books are $7.99 each. You can also order fun things like bookmarks, stickers and note pads to help encourage your children. To reward your children and keep the fun going, you can download certificates and games for free on their website.

As children learn more about money they tend to want to either save or spend. Soon my daughter will be ready for her first bank account. There she can earn a small amount monthly while saving her money for a larger purchase.

A snippet of the story

Benji and I go to the shopping mall once in a while. One day, Dad had a list of things he needed to buy so we went along with him. It is always best to bring money with you when you go to the shopping mall. You need to count your money before you leave to make sure you have enough to buy the things you want.

Dad brought his money to the mall in a flat and folded thing he called a wallet. We learned that it’s like a pouch. Money is safe inside so you don’t lose it. He took out his wallet each time he bought something. Later we talked to Mom and she told us that she has one too. She keeps it in her purse and uses it when she goes shopping.

Having money helps your child be independent and feel “grown up”. It is really great to see them learning and getting excited about having their own money.

At a recent birthday party my daughter was invited to the birthday girl requested no gifts. But the invite said “if you choose to give a gift, please provide money as half will be donated to the local fire fighters”. After learning more about money, my daughter was able to decide how much she wanted to gift her friend and knowing she would donate half, influenced her decision. There are always opportunities for our children to learn more about money. M if for Money is a great place to begin.

If you have children in your life between the ages of 5 and 9, you will want to order yours today. Give your children the tools they need to learn to make smart financial choices in the future.

Have your children started asking you about money? Do you give them allowance or do they get gifted money from family? Share any tips you may have below.

 

 

Disclosure- This post was brought to you by  M is for Money. All opinions are my own 

 

 

 

 

Comments

  1. Thank you for your support of M is for Money. It was a pleasure writing the books given my passion for financial literacy. The books can be purchased on my website at http://www.misformoney.ca Money conversations need to start early, especially given the economic conditions that surround us. A solid financial background will help children throughout their lives.
    Teresa Cascioli
    Author, M is for Money

  2. This is so great. My little man has a major issue with spending every penny he has, so this would be helpful. Thanks so much for sharing.

  3. That’s a great idea! Parents are responsible for teaching kids about money. It’s so important. Otherwise, they’ll end up being one of those adults who doesn’t have two pennies to rub together.

  4. My oldest is good with money, but my youngest totally does not understand the value of a dollar. These books sound great.

  5. I love this!! My oldest is the saver, my middle is a spender and a want to borrow money, and my youngest loves to earn and spend. What a great way to teach them about money!

  6. My oldest niece saves every penny she can. She’s awesome at it! This is a great post, and definitely great advice for helping kids save!

  7. Great lessons to learn. I had a couple of great econ classes in high school, but a lot of kids it seems don’t get these lessons anymore.

  8. It’s very important that kids understand the importance of money and saving. These are great books to help teach that.

  9. It’s never too early to teach kids about saving and managing money. This sounds great.

  10. I LOVE this! This is the one thing the schools don’t teach, how to manage money. Such an important lesson.

  11. It’s never too early to start learning about money management. This sounds like a great book series to help start conversations.

  12. THANK YOU for this. I think learning about money, bank accounts, credit all those things need to be taught young but no one wants to teach it. From children to teens we are lacking in an area that will soon rule our lives! These are great books. Thank you!

  13. It is so important to teach kids about money. This looks like a great series of books for kids.

  14. I’ve been thinking a lot about the importance of teaching my kids the importance of money! I really don’t think it’s ever too early to start!

  15. Teaching kids about money is such a valuable life lesson! It’s a skill they’ll use their whole life!

  16. We have these and love them. They are perfect for kids to learn early!

  17. These little book guides look valuable! I think they would be great for my kids too!

  18. What a great tool to guide them on the importance of money.

  19. These book guides would be great for my nephews!

  20. Teaching little children about money is one of the greatest lesson parents can teach their children. Learning the strategies on money management helps them to make better financial decisions as they grow.

    They will remember their parents for this!

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