Money can be a challenging topic for us to understand at any age, let alone as a kid. However, teaching kids (or grandkids) about money, even while they are young, can make a world of difference as they grow and mature. Plus, it can be fun!
As a father, my aim is to begin to teach my kids from an early age what the Bible says about money, while trying to keep it simple and making it fun. My hope is that this foundation will allow them to steward the money that the Lord may entrust to them one day in a responsible manner as they get older. Below is a simple, digestible way for kids - even those as young as 4 years old - to begin to understand the purposes and uses of money.
To better explain these principals, I purchased a 4-drawer organizer (similar to this) and labeled each drawer with one of the four categories above. (Find below a printable label for each drawer you can use!) We use physical $1 bills and this allows my daughter to physically put the money where it "goes." While it will take some time to truly comprehend the full complexities of money, this is a simple, straight-forward method for teaching kids about money that starts the conversation and hopefully sets them up for financial success down the road.
Content in this material is for general information only and not intended to provide specific advice or recommendations for any individual. The content expressed in this material do not necessarily reflect the view of LPL Financial.