These days, kids are less exposed to seeing money being used to pay for things. They see packages delivered to their houses. Groceries are paid for with a single tap of a plastic card.
Water just magically flows out of the taps on demand without a second thought that someone is paying for every drop.
Kids often aren’t even aware that these things cost money, because they don’t see them being paid for!
I’ve asked many parents about their challenges in talking to their kids about money and some common answers were that they simply don’t know where to start or that they think their kid will just “get it” over time.
Sure, they might understand the basics over time- “I have $5 so I can buy something that costs $5” that’s just common sense right?
So why bother having the conversation?
Well, let’s say no one talks to our kids about the importance of saving 10% of their pocket money from an early age.
It will take them a lot longer to develop these habits as adults- if they ever do at all… and I think it’s fair to say, that there are a lot of adults right now with poor money management skills, because no one explained the importance of these basic money concepts and assumed they would “just get it”.
Why did I create a podcast specifically for kids?
When our kids put us on the spot with their million and one questions, we’re often in the middle of doing something like trying to navigate our way through a traffic jam and can’t think about how to answer that question OR we over explain our answer and they end up with a million more questions OR we haven’t had our morning coffee yet and can’t think about anything else but the need for caffeine!
Kids questions can be exhausting, yet we should never want them to stop asking questions as they are so eager to learn and accept new information like the little sponges that they are.
Explaining what money is and why we need it, why we have banks or what to do with the gift card they got for their birthday can sometimes feel like an intimidating task as these inquiring minds are eagerly hanging onto every word we say.
Sure, these concepts are easy for us to understand as grown-ups, but finding simple ways to explain them to a 6 or 7 year old can sometimes end up causing more confusion and could end up in you answering their “but whhhhyyyyy????” questions with a snappy “because I said so!”. Sound familiar…?
So listen to the podcast and let them learn something new, hear some cheesy jokes (no seriously, there are some really random and cheesy jokes during the episodes!) and have a break from having to always know the answers to absolutely everything!
The podcast is designed with kids between the ages of 5 and 12 as the primary audience.
It is an easy way to give your kids the opportunity to understand the basics of money, without having to think up the explanations yourself and connect all the dots.
You can then use the content in the episodes, as a stepping stone to share your own values and your own teachable moments.
And make sure to checkout the blog posts for each episode, as they contain detailed information about what’s covered in the episode along with some suggested activities.
Let’s get started!!
Click here for the latest podcast episodes, show notes and suggested activities.
I should let you know that I’m not a Financial expert. Kids Money and More is a personal blog and podcast. The opinions expressed on this site are my own and should not be treated as professional financial advice.
I’m not a teacher and I have no claim to understanding how the mind of a child works. Seriously- if anyone figures out why kids have tantrums over absolutely nothing, please let me know!
I’m also in no way claiming that the information here, will make your child eternally grateful for what they have and/or guarantee that they will have good money habits as adults.
I’m simply trying to get the conversation started…