Kids & Money

Will It Motivate Them Or Corrupt Them?

Like it or not, we live in a capitalist society. (Most of us seem to like it just fine.) A lot of our values are reflected in the way we earn, save and spend money. So if you want to teach those values to your kids, you need to teach them about money how it motivates people, how it requires making choices, and how it can lead us astray.

We recommend focusing on the basics: live within your means, save part of what you earn, and consider sharing some of your money with others.

Like most of life's lessons, these are best taught through hands-on experience. Your kids can't just hear about making choices. They have to feel the frustration of wanting more things than they have the means to buy, and they have to go through the process of making those choices for themselves. That's why an allowance is an important instructional tool. (And you thought it was just a drain on your bank balance.) But it's not your only instructional tool. We'll cover a few more along the way.

It's not our intention to turn your kids into CPAs (although that's not necessarily a bad thing; of course, it's not a guaranteed good thing, either). We just want to point out how many ways money intersects with their lives. And when it does, we want to help you make sure it's not a serious collision.