Teaching your kids about money and saving money in a world where everyone seems to so often get “something for nothing” can be difficult.  But, it is our responsibility as parents to truly teach our kids the right way to handle money, how money is truly earned, and how to save it.

So, just HOW do you do that and do it well?  Teaching your kids about money can be a challenge.  Here are some steps to doing so successfully.

1. Begin when they are young. Beginning when your children are young and explaining to them what money is, how it is earned and how we should use it is important.  As they get older they will learn from others and form their own ideas so you want to start early. 

2.  Show them how money works. You want to be sure and show your child the value of a dollar.  Take them with you when you go shopping, use real cash, show them just how much of it it takes to buy their favorite snack, a new shirt, or even a larger purchase.  The impact of seeing “how much” it takes will truly help them to understand it better.

3.  Teach them to count money. This is yet another way to teach them about its value and how much of it is needed for certain items.

4.  Teach them to save. Opening them a savings account or even just utilizing a good old piggy bank is a great way to instill in them the need to save money.

It is certain that if you don’t teach them about money, like everything else they’ll pick up their own ideas and the ideas of others elsewhere so if you want them to know the truth about money, tell them yourself.