Teaching kids about how money works feels ever more important in a world where we pay for things by waving our phones, and where a couple of taps brings us anything we want to our doorstep twenty-four hours later.
Sometimes we feel like protecting our kids from the realities of our financial situations is what is most appropriate. But somewhere along the way we can start teaching kids financial literacy by making our family decisions around money concrete and transparent.
In this episode we discuss:
our children's many "blind spots" around money and spending (and what were once our own)
the differences in spending when people use credit cards versus cash
how to discuss your family's "money values" in terms of what you are (and are not) willing to spend
Here are some links to resources mentioned in the episode:
@bethkobliner on Twitter
BusyKid: What Your Child Can Understand About Money, Age by Age
Beth Kobliner for PBS News Hour: Money habits are set by age 7. Teach your kids the value of a dollar now
Jana B. Woodhouse for How Money Works: Can You Teach Your Kids How Money Works? (Yes!)
Shereen Marisol Meraji and Andee Tagle for NPR's Life Kit: Want to teach your kids about money? Start by including them in the conversation
Johnathan G. Conzelmann and T. Austin Lacy for Brookings: Financial and student loan (il)literacy among US college students
Our episode "Should We Pay Our Kids To Clean Our Rooms?"
Our Fresh Take with Bobbi Rebell
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