What to Teach Your Child About Money at Every Age Stage

It is vital for kids to learn about the essence of money and how to manage it wisely. If they understand this at an early age, they will be able to apply these concepts in real life later on. By engaging them with various learning activities, you can show them how hard it is to earn money, how challenging it is to save money, and how rewarding it is to spend money wisely!

If you do not know how to introduce money to your kids the best way possible, you can always take it one step at a time. Let this breakdown help you how to approach this topic.

The Toddler Stage

You can start teaching kids about money as early as their toddler years. They begin to learn to follow their guardians and what they do at this age. While you cannot run on an entire lecture about money with them, you can start with the basic steps.

When you are paying for items, for example, when making purchases at the supermarket, it is a chance for you to teach your children about money.

  • Introduce them to the concept of money.
  • Get them to watch you pay for items.
  • Let them hold the money.
  • Tell them what the money is used for and why they need to save their money.

The Preschool Stage

During this stage, you can continue to encourage your kids to hold the money. Get them to watch you pay for items. At this phase, you can also teach them the value of money. Teach them the difference between coins and bills, for example.

The School-Aged Stage

You can let them help you count the money, and they will find this fun and rewarding. Your child likely already knows how to save and count money by this time. Play games with them like Monopoly, which will allow them to earn money and spend it wisely.

Try to get them to understand the concept of earning, saving, and spending. Ensure that your kid knows they can always ask you if they have any questions.

How to Earn Money

You can start looking into fun teaching money games for their age. For example, you can look into chore apps or money apps for kids that will allow them to earn money from you by doing simple house chores. By doing this, they will understand that they only get money once they work hard for it.

How to Save Money

You can introduce your children to basic savings if they have money at this point. If they do not have money, they can learn how to save up for a specific item. Try to offer them some rewards when they accomplish this. When they earn enough money, they will start saving for their reward.

How to Make Financial Decisions

You can also encourage them to help you make money decisions. Do your best to teach them about it at all times. Remember to praise them for good work on their money-related activities.

Evaluate the amount of allowance that you’re giving them. Allow your kids to make their own choices but guide them through the process.

Start teaching your kids to spend their money wisely. You can encourage them to save up for big purchases by giving them smaller rewards for purchasing something with their own money.


While it can be challenging to teach kids about money, it is not impossible. You can start small and slowly build it up from there. It is your job to make sure that your kids grow up to be responsible adults. If they take after your good side and not your bad, you can proudly say that you have succeeded as a parent.

Teaching kids the concept of money, budgeting, and saving can help them become responsible, productive members of society. The earlier you start, the easier it will be for them to manage their own money.

If you think you need help when teaching your kids financial education, keep in mind that you can start it fun and simple. Utilize money apps for kids like Kiddie Kredit. It is the best chore app you can find online that will build credit for your child as they do chores around the house. Download one now to learn more about it. 

John D Saunders

John D. Saunders is a Web Designer and Founder at 5Four Digital, CMO at Kiddie Kredit and an Automation Expert with a decade of experience building brands online. He's worked with clients including Audi, NAACP and Apps Without Code.