My boys, at age 4, are just learning about the concept of money. Unfortunately every time we go to the store they think we should buy treats and toys, they've also started an embarrassing new habit of screaming "debt" whenever a cashier gives us a total. I only use debt when we are at the store, only using cash at cash only places like an outdoor event.
I see now that this is a hindrance to my children's learning, they think this little card I pull out is unlimited, instead they should see me counting out money, handing over a big pile, or Mom's wallet running on empty. In the Learning Money with Leo game there is a Sort the Coins game that is perfect for this. There are coins that need to be sorted in their own piggy bank, this has been helpful for learning the value too, as previously my guys have been thinking the bigger the coin the better and haven't been impressed with dimes..haha..
We've really been enjoying the Learning Money with Leo game, it not only teaches the value of money, but also earning, saving, and spending. This is building a foundation that I want my boys to carry on with. As you play the games you earn coins that can be used to buy stickers which is very exciting and a great lesson showing you have to earn your coins. I also appreciated that you can make up to 4 accounts on one game, so each child can earn their own stickers.The most important thing I want to teach my boys is that we have to work for our money and we need to spend it wisely. As they get older and we start allowances the boys will see money needs to be earned and we'll be learning about saving up for something special, not just using that "magic" debt card. :-)
I highly recommend every Canadian family with young children check out this app in the iTunes Store. Check out https://www.rbcadvicecentre.com and http://www.rbcroyalbank.com/learning-money-with-leo/index.html for more information!
We are so excited to let you know we have a $50 Visa gift card to giveaway to one lucky Canadian reader as well, thanks to RBC Royal Bank! Enter below for your chance to win.
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Disclosure – I am participating in the RBC Learning Money With Leo program by Mom Central Canada on behalf of RBC Royal Bank. I received compensation as a thank you for participating and for sharing my honest opinion. The opinions on this blog are my own.
Children need to know how to keep money safe, what it really means, and how to deal with it.
ReplyDeleteWe have to teach them independance by saving.
ReplyDeletehow to save.
ReplyDeletelisaandkevin@yahoo.ca
Have money readily accessible for emergencies.
ReplyDeleteemu839(at)gmail(dot)com
eva urban
teaching kids the value of saving for things they want instead of instant gratification
ReplyDeletei think the most important thing to teach my kids is to plan for the purchase's they want to make and save the money for it
ReplyDeletethanks
flower_child_23(at)hotmail(dot)com
on how to spend responsibly and how to save
ReplyDeleteAmi B
ReplyDeletevuittongrl1975(at)yahoo(dot)com
I think they need to know the value of money...what a dollar can actually buy etc. Then they learn saving for things and how long it actually takes to save for something you want.
I think kids need to learn about budgeting and saving up for items they want. They need to learn these skills to lay the foundation for money management in the future.
ReplyDeleteTeaching them how to save and plan for bad times, so they don't go into debt
ReplyDeleteI think it's important to teach kids how to save, so they learn the value of delaying gratification.
ReplyDeleteKids need to learn the value of a dollar and how to save for things
ReplyDeletebluebelle0367(at)hotmail(dot)com
belinda mcnabb
saving for a rainy day- and the value of a dollar earned.
ReplyDeleteNow we need something for Teens who missed out when they were little! Great idea for any age.
ReplyDeleteI try teaching my children about the value of a dollar by having them replace items with their own money that they have damaged, lost etc. that I have already purchased once.
ReplyDeleteWaste not, want not & always respect the value of a dollar (at any age). Cheers.
ReplyDeleteI think kids need to learn the value of a dollar - seeing what everyday items cost!
ReplyDeleteKids need to learn that money is earned and what things cost!
ReplyDeletebreej23 at hotmail dot com
To value it and not go into debt
ReplyDeleteSarai
nemesis_33012 at yahoo dot com
I think it is very important to teach kids to save and not spend carelessly,so they wont go into debt.
ReplyDeleteksceviour at hotmail dot co m
I think the most important thing to teach children about money is that making sacrifices and saving is worth it in the long run. Instead of buying ice cream for a week, you could have a toy that will last years. Tangible lessons are always most effective with kids...
ReplyDeletenmp.contest AT gmail DOT com
To respect money but not worship it
ReplyDeleteShelly kristianson
skristianson@yahoo.ca
I've always placed a great importance on teaching my children about money and being spend-wise. Too many children have this sense of entitlement nowadays because their parents will go out any buy them the latest thing with no thought of the child earning it in anyway, let alone earning the money to pay for it themselves.
ReplyDeletehow to save (and not spend it all) at an early age
ReplyDeletetaila782(at)gmail.com
value for the dollar, so if they choose to spend a lot of their money on something, it's more worthwhile because the item is likely to last.
ReplyDeletecontactlillea at gmail dot com
Considering my son doe snot like measly quarters, nickel, dimes and pennies. He only like the big 1 and 2 dollar coins......He needs to learn the value of course and see that it all adds up!
ReplyDeleteThanks
hsformat@gmail.com
I think the most important things to teach kids about money is its value, budgeting and saving.
ReplyDeleteweezi_k (at) hotmail (dot) com
I think they need to be taught, money is earned and how to save it for higher ticketed items they want! They should have chores and each chore is added to their paycheck which is their allowance
ReplyDeleteI think the most important things to teach my son are to save for what he wants and to spend carefully.
ReplyDeleteKids need to taught the difference between needs and wants and how to spend their money accordingly!
ReplyDeleteI think it's important to teach them not to over spending and the balance between spending and saving
ReplyDeletesweetpanda2010 at gmail dot com
Yes, needs and wants are very important. To really know what the difference is. Also, that money is like a business. To keep track of what comes in and what goes out.
ReplyDeleteDOREEN RIOPEL
I think they need to be taught how money is a way of storing value - not something valuable for its own sake, but valuable in that you can save it for things or experiences you want.
ReplyDeleteI think teaching children to try to save money. Put a certain ammount a side and it will add up.
ReplyDeletesilverneon2000 at yahoo dot com
I think credit is really important even at a young age - teach them the value of how to use credit only for emergencies
ReplyDeleteflycast5 at yahoo dot com
I think being taught to save is really important.
ReplyDeleteRAFFLECOPTER
NAME
is
Anne Taylor
You need to earn it, you don't just get it!
ReplyDeleteThey need to know that you have to work for money and so spend carefully
ReplyDeleteHow to spend it responsibly and how to save it.
ReplyDeleteThat most money is earned through working and that a portion of it must be saved.
ReplyDeleteJanette
The best thing is to tell them to spend it wisely.
ReplyDeletespend less than you make
ReplyDeleterafflecopter name Jules A
How to spend wisely and save for the future
ReplyDeleteChildren need to learn about money at home. That you need to put aside some savings and pay yourself first.
ReplyDeleteSherry
schanninggray@gmail.com
I think the most important skill to teach is how to save money.
ReplyDeleteWhen my kids are given the option of buying things they see with their own money they choose not to buy things without thinking seriously about it. If kids get things because it is using other people's money they do not really think hard about what they would like and what they need.
ReplyDeleteinfo @ jill kenny.com
Kids need to learn that you don't have an endless supply of money and that we work to earn it.
ReplyDeleteGreat idea
ReplyDeleteTeaching them the value of saving - something that I am horrible at
ReplyDeletethat money doesn't come easily, so if you want something, you need to plan and save
ReplyDeleteThey need to learn the value of the dollar, the work that goes into making money - that it doesn't come easy, and how to save.
ReplyDeleteCheers.
Don;t buy it unless you already have the money
ReplyDeleteKids need to know that you need to use money wisely. It takes a lot of mistakes to finally get the message.
ReplyDeletelbroderick246{at}yahoo{dot}ca
I think the most important thing to teach kids about money is that saving for the future is important.
ReplyDeleteNot to spend it all at once - the old "saving for a rainy day" adage
ReplyDeleteThe value of money - it doesn't grow on trees
ReplyDeleteCash and not credit.
ReplyDeleteHow to save and spend responsibly.
ReplyDeleteHow to budget and to live within your means
ReplyDeleteI think children need to learn how to budget and learn about credit cards and interest rates on them and how easy it is to get into trouuble with them
ReplyDeleteI think that it's important to teach my kids about how to budget. They should learn about spending and saving.
ReplyDeleteThe most important thing you can teach them is not to blow it all!
ReplyDeleteLaura
Kids have to do chores in order to get money...as we know money doesn't grow on trees. They also have to learn to be responsible with it! debbielemaire@hotmail.com
ReplyDeleteI have had a bit of a hard time getting through to my youngest about money as he truly does think it comes from thin air. There was a game he wanted recently and when I said I didn't have any money he stated: "Just go to the bank machine and it will give you some." He really thought that we all had this abundant amount of cash that we could access through the machine...I wish! I have since made a bit of head way but he still doesn't quite get it that we work a lot of hours for every dollar we have. Here's hoping that I can make him understand before he gets too much older. :-)
ReplyDeletejglaframboise at eastlink dot ca
It's so important to teach kids the value of money because too many people these days take it for granted. Kids need to know to manage money NOW so that we can all have a financially secure world in the future!
ReplyDeletesaving
ReplyDeleteYou need to teach kids how to spend, handle bills / expenses, and savings. I am in my mid 20s, and my parents taught me how to spend, and pay my bills. Meanwhile a lot of my friends who were never taught this all in major debt, no savings, and cant understand how to pay bills.
ReplyDeleteDon't spend more than you have
ReplyDeleteHow to spend wisely and how to save!
ReplyDeleteHow to save.
ReplyDeletetinalee351 at gmail dot com
It's good to learn early on that adding even small amounts to your savings can really add up over time.
ReplyDeleteThe most important thing I need to teach my kids about money is how to balance it... i.e. know how to save it, spend it (break it down between housing, food, entertainment, etc.), give it away and invest it. Teach my kids how to balance their funds, but also live a balanced life...
ReplyDeleteAliya D.
aliyadaya(at)shaw(dot)ca
to save
ReplyDeleteChildren need to learn that money is hard to gain.
ReplyDeleteSophie
charmy_kitty(at)hotmail(dot)com
I want them to know the importance of saving.
ReplyDeleteTo teach children the value of a dollar.
ReplyDeleteTry to save and watch your bank account
add up fast.
Learn the right way to save
ReplyDeleteThinking ahead is the most important thing about managing money.
ReplyDeleteHow to plan ahead and save.
ReplyDeletethe younger you learn the more responsible you will be and hopefully they will avoid credit when possible
ReplyDeleteThanks for letting us know about the app, all the help we can get is great!
ReplyDeleteThat is rewarding to save ahead.
ReplyDeleteTed Kooper
fwdsd45 @gmail.com
That its important to have a rainy day fund...an account set up for emergencies so to speak just in case...always have a few months of rent/bill money saved up just in case cause you never know...
ReplyDeleteandrea_hockeygirl (at) hotmail (dot) com
Teaching our children how to save and plan for rough times, so they don't go into debt,and to save for emergencies!!!
ReplyDeletedalleykt at live dot ca
to live within you means
ReplyDeleteamym_brown @ hotmail.com
It is important to teach them not to spend every penny they have and money doesn't need to burn a hole in their pocket. Spend some but save some. Always have an emergency fund and don't live on credit cards.
ReplyDeletefoxydebs@hotmail.com
When mine were little I gave them and allowance and didnt tell them what they could or could not spend it on.It was painful to watch for awhile, but soon when they spent it all and had nothing left and wanted something and had no money, they started to get it and now they are all very responsible with their money
ReplyDeleteGot my son a paper route as soon as he was old enough, so he could learn that it takes hard work to earn money. I've also had a sit down with him to explain that he worked hard to make that money, so he should think long and hard before spending that hard earned money.
ReplyDeleteWe've been teaching our kids to be wise with money by deciding if something they'd like to buy is a "need" or a "want", and if it is a "need", to decide if a particular price is reasonable. Simply because we have the money to buy something doesn't mean that we should!
ReplyDeleteChildren should be taught the meaning of money and what they should and should not spend it on.
ReplyDeleteThey should be taught the value of a dollar, how to earn it and whats appropriate to spend it on. That and if they want that expensive toy, they should learn how to earn and save for it. The toy would be that much more special to them in the end.
ReplyDeleteNot to go into debt.
ReplyDeleteI think kids need to learn how to save up for what they want. Debt is so common these days; kids need to learn how to avoid it.
ReplyDeletejentam777 at gmail dot com
So save your money until you really want or need something. Only buy what you have money for.
ReplyDeletejmbarata21@hotmail.com
Children need to understand the old, but very true adage, that you must always strive to "live within your means."
ReplyDeleteGood thing for them to learn young is that a portion of all income should be saved away. Get a dollar; put at least 10 cents int he bank account!
ReplyDeleteThey need to know the value of money, and that it doesn't really 'grow on trees'.
ReplyDelete100% CANADIAN CONTESTS at:
http://pridelifepridegirl.blogspot.ca/
It's important to teach them that money needs to be earned and that saving money gives you freedom in the future.
ReplyDeletethey need to learn how to save
ReplyDeleteTeach them money is earned and to buy smart, buy what you need not what you want and save for the future
ReplyDeleteTeach children about the real world, have to save for future
ReplyDeletekellycolby@hotmail.com
The most important things to teach them is that they need to save money for whatever may come in their lives, and that a portion of whatever they earn should be kept for a rainy day
ReplyDeleteboth my husband and I believe that its important to teach them independance by saving. wildcardacehigh@yahoo.ca
ReplyDeleteSave money so they never have to depend on someone else.
ReplyDeleteCan always use a prepaid Visa Card, and kids should learn early about saving, this sounds like a good way
ReplyDeleteI was taught to always put a percentage of my earnings away in savings.
ReplyDeleteThe value of money and how to save money.
ReplyDeletemy kids are older so they do know about debt. I've taught them to spend what they have, not bank money. My 16 yr old is going to go on a trip to Australia and its 100% with money SHE has earned, no credit card debt, no bank debt, just working during the summer. She's a really good example for about 100 families I know who sink themselves into debt to do this LOL
ReplyDeleteMarch 27-My important message about money and children is that Money is to be used frugally and wisely. Wise use of money is essential to their future happiness and fulfillment in later life. They should be encouraged to take jobs when they are able and to have a savings account. Parents should be the prime example of wise use of money.
ReplyDeleteI think its important to talk about saving from the start and setting a long term goal. My 4 year old has a piggy bank, and half of her money must go in the piggy bank. I think these are the building blocks for saving when older.
ReplyDeleteThat it takes a lot of hard work to make it, it doesn't grow on trees that you have to save for the things you really want. Money is such an important lesson to teach (constantly).
ReplyDeleteswak50 at hotmail dot com
I think the most important things about money are earning (what it takes to get it) and saving. Good foundations will help out for a lifetime.
ReplyDeleteIn today's economy, it is imperative the children know the value of a dollar. They need to start saving as soon as they can for their retirement. I want our children to be both successful and comfortable finacially.
ReplyDeletepmilner@rogers.com
It's important for kids to learn about the value of money as they grow so they can have a healthy attitude towards it into their teens and in adulthood.
ReplyDeleteI think it is important to teach that money is something that is earned.
ReplyDeletechildren need to learn it's important to save, to donate and to spend a little on themselves
ReplyDeleteI think children need to learn how to save.
ReplyDeleteChildren need to learn about saving money and how to spend it wisely
ReplyDeletei think they need to learn how to save - spending is easy, saving is a challenge if you don't learn it young.
ReplyDeleteSAVE MORE,SPEND LESS.THANKS
ReplyDeleteSave save save
ReplyDeleteI think you need discipline because the best way to teach the kids is to teach by example. Teach them about coupons, savings, and smart spending.
ReplyDeleteteaching a child how to safe and the value of a dollar is important and how to manage their money.
ReplyDeleteKids need to learn how to save and spend smart!
ReplyDeleteteaching a child how to safe and the value of a dollar is important and how to manage their money.
ReplyDeleteThey need to learn how to save for something they really want.
ReplyDeleteMoney management teaches a child responsibility - give them an opportunity to win your trust.
ReplyDeleteIt is important to teach kids so they are not clueless later on in life and end up drowning in debt!
ReplyDeleteIt is important to show children that you work hard to earn money and therefore you should know how to spend it wisely.
ReplyDeleteIt teaches the kids money as well as responsibility.
ReplyDeletehow to save
ReplyDeletesave for the present, for the not so far future and for the future.
ReplyDeletesave for the future
ReplyDeleteThey need to be taught about saving - how to find money to set aside, and that money left over after paying expenses is not money that should be spent right away.
ReplyDeleteSubscribed to newsletter: sexxyjessi at hotmail dot com
ReplyDeleteJessica Bleasdale (JACB)
sexxyjessi at hotmail dot com
Teaching to save for purchases instead of using a credit card.
ReplyDeleteDebbie
Children need to learn the difference between what you need and what you want and how you can save to get what you want.
ReplyDeletecleaningrhouse at yahoo dot com
I think they need to understand the feeling of letting real money be used. By handing over their money, they can see it in use. Cards don't have the same effect.
ReplyDeleteKids (and adults) need to understand the importance of not spending all of their money & learn to set some aside for true needs or emergencies.
ReplyDelete(rafflecopter name is Julie G.)
I think that kids need to know that nothing is free and that if you really want something they have to work hard for it. They also have to learn that just because you have it, it doesnt mean that you have to spend it!
ReplyDeleteI think we need to teach our kids to respect and appreciate money - so many kids now have the attitude of "I want that, give it to me", without really understanding what it takes to obtain the things you want in life. The earlier you can begin to teach them (allowances, etc), the better.
ReplyDeletejennifer.am.lewis(at)gmail(dot)com
Children need to know the importance and value of money at a young age.
ReplyDeletebspry35 at hotmail dot com