Is 5 years old too young to start eductaing about money

[Ryan Cortez]

I don't think it's too young. You just have to talk in their language.

When I started giving my 10yo pocket money, I taught her about breaking up the amounts for saving and spending. Lately I've been talking to her about investing. I use simple stories to help her understand.

Eg if an apple was money, you could keep some (save), swap it for bananas if you didn't want apples (spend) or you could plant it (invest) and when that grows you get more apples. I used drawings to illustrate my point too. it's a fun way to get the message across without it getting too technical.

I also purchased rich dad poor dad for teens for her and asked her teacher in parent teacher interview to help her learn about money.

 

[Deltaberry]

The best way to teach a kid about money, is to lead by example.

Just talking about money will make them void of much else in life.

 

[Dan_p]

The best way to teach a kid about money, is to lead by example.

Just talking about money will make them void of much else in life.

your right, its not all about money.

Money management is one skill that is missed quite often for people growing up, thats why I have mentioned it. I wasn't saying talk only about money, money money, and greed.

My boy is now 8, he saved for 6 months of his spending money for money to spend on a Europe holiday. He managed to buy himself model trains from different countries over there and this was because he showed delayed gratification. Also he managed to buy both of his parents and some relatives gifts out of his own money, without persuasion.

It comes back to being able to support yourself means you can support others.