The June 2009 edition of Money magazine featured an article on how to Unspoil Your Kids. The article included an interesting chart outlining “What to Teach When,”
as suggested by Jon and Eileen Gallo, authors of The Financially Intelligent Parent.
I like the idea of breaking up financial lessons by age group, recognizing of course that some kids “get it” before others, despite their age. For instance, my daughter is fairly money-savvy and back when she was just seven or eight could explain in adult terms what a mortgage was, how taxes were collected, etc. She probably got that from hanging out with her frugal dad.My son, on the other hand, at five years-old, is more interested in a shiny penny than a paper dollar. He’s yet to recognize the differences in currency (despite our best efforts). Actually, I think he does understand it on some level; he just likes shiny coins.
Who could blame him?
I’ll include the age brackets below, along with the suggested lessons from the Money
article, but as usual, I put my frugal spin on the ideas as well.
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