Teaching Your Kids About Money
Guess what? You DON’T need a curriculum and a ton of resources to teach your kids about money!
After all, people hardly use actual coins and dollars anymore, and who knows what the landscape of currency will be by the time they are graduated. However, teaching the overall concept of currency is extremely important though!
Since the concept of money can be taught fairly quickly, here are the basics I recommend:
Learning Money Essentials
Jack & Link Money Board
This has been the best tool for teaching kids about coins. My sons were able to learn to identify the coins, remember their value, and learn how to sort them quickly and easily with this amazing resource.
Learning Resources Play Money
Use this realistic play money to teach kids how to make change, identifying value, and learn adding and subtracting coins.
Making Change
eeBoo’s Making Change is an educational game where players use mental math to subtract the cost of an item from the amount paid to make the correct change. Whoever collects the most items wins!
Books About Money
Learning About MONEY!
These 4 books are a great place to start when it comes to teaching kids about money. Click the images above to purchase the books.
Gameschooling
You can use games organically in your homeschooling where information and skills are obtained simply by playing the game. Or you can select games that work with whatever topic you’re studying.
One of the best ways to teach kids about money is playing GAMES! My two favorites are hard to find games called “The Allowance Game” and “Shopping Spree”. If you can find either of these games in thrift stores or places like eBay, Mercari or the Facebook Marketplace, BUY IT!
Some of our other favorites include:
More Resources:
If your child needs more time to go over the concepts like making change, etc, here are a few more resources you could employ:
- Evan Moore Learning About Money for grade 1
- Evan Moore Financial Literacy for grades 1-8
- School Zone Count Money Workbook for grade 1-2
- National Geographic Kids Everything MONEY
- Osmo Pizza Co. Math Game (incorporates money)
Most math curriculum includes lessons on money starting in 1st grade, but there are tons of resources, worksheets, and games to teach children more about money if you want to delve into it more.
What Does The Bible Say About Money?
The downfall of Zacchaeus, the tax collector in the Bible? Money.
The downfall of Judas who betrayed Jesus? Money.
If you are going to teach your children about money, make sure you incorporate the Bible!
“For the love of money is a root of all kinds of evil, for which some have strayed from the faith in their greediness, and pierced themselves through with many sorrows.”
“The deceitfulness of wealth, and the desire for other things come in and choke the word, and it becomes unfruitful”
Does the Bible actually warn against the love of money?
It is crucial for parents to help their children understand the importance of not being greedy. As stated in Ephesians 5:5, the Bible tells us that greedy individuals will not gain everlasting life. This is significant for children to comprehend because it teaches them valuable lessons that will shape their character and guide their actions.
Greed can be likened to idolatry, as mentioned in Colossians 3:5, where it is considered a form of false worship. By desiring possessions or wealth excessively, individuals place their focus on material things rather than on meaningful values and relationships. This understanding can help children recognize the dangers of becoming consumed by greed and losing sight of what truly matters most in life.
Moreover, the pursuit of wealth can often lead greedy individuals to abandon good principles. Proverbs 28:20 warns that those who rush to become rich will not remain innocent. In their relentless pursuit of their desires, the greedy may be tempted to engage in criminal activities such as lying, blackmail, extortion, fraud, kidnapping, or even murder. Parents should emphasize the importance of integrity, honesty, and respect for others, ensuring that children understand the consequences of abandoning these values.
Even if the love of money does not lead to immoral behavior, it can still have negative consequences. 1 Timothy 6:9 highlights that those who are determined to be rich can fall into various temptations and harmful desires. The relentless pursuit of wealth can consume individuals, leading to a sense of dissatisfaction, insatiable desires, and a lack of contentment. Children need to learn that true happiness and fulfillment come from God alone and not from material possessions.
By teaching children these important lessons about greed, parents equip them with the understanding and values necessary to make wise choices in life. They learn to prioritize virtues like contentment, gratitude, and empathy, which foster healthier relationships and a deeper appreciation for the blessings they already have. Ultimately, guiding children away from greed and towards a more balanced and virtuous approach to life will help them develop into compassionate, responsible, and morally upright individuals.
Incorporate an Art Study
Take a moment to do an Art Study with your children. Print out a picture of da Vinci’s depiction of the Last Supper. It holds so much significance. Judas is the only one without a faint halo around his head. You’ll also notice when you look closely that he’s depicted clutching a bag of money… Another detail of symbolic importance is that a bowl of salt has been knocked over by his elbow and is spilled on the table.
Love of money was the way Satan got to him. Judas was the treasurer for the group and the gospel of John says that Judas sometimes stole from their shared money that he was in charge of… He obviously had a problem with greed. So how did Satan manipulate him into betraying Jesus? MONEY.
Lesson to be learn: having lots of money isn’t necessarily a good thing. We seem to think wealth = freedom, but I think it can be so easy to let money lead us astray, especially if we have a lot of it. An important thought to ponder…
Resources For Teens & Adults
If you have older kids, I recommend getting Tan Book’s Introduction To Economics and The Tuttle Twin’s Guide To Inspiring Entrepreneurs.
For adults, I recommend Common Sense Economics What Everyone Should Know About Wealth and Prosperity. Click the image to the right to purchase.
If you have any other suggestions for me to add to this page, I’d love to hear them! Leave a comment below!