how to teach financial education for children

Well, two years is still rather young but maybe you can create a chart with all the days of the week and when your daughter has picked up her toys everyday you can put a star or smiley on each day. At the end of the week give her a penny for each day she did it and have her keep her pennies in a jar. Little kids can only deal in short term so let her spend the money when she gets enough to buy some small treat. As she gets older you can give her an allowance and tell her she must save at least 5% of it each week. Then when she wants to buy something tell her you will match her savings for some things and others she will have to get herself.

Beginning from three, she could be taught to know the numbers and coins. Give her a piggy pot to put in the exchanges, if you like. Later, she could be asked to buy the little things, such as books, toys, candies. In western culture, children learn to appreciate their earnings through house chores. Beginning from primary school, the Isreal parents help set a home bank account for the children. There are endless to do for teaching financial education for our children. To be a good teacher, parents should be willing to learn in the first place. Anyway, FQ is important for overall competence.

Hi, I think your daughter is still too young to know too much about finance. However, I think you just need to teach her about purchase of products using money and the changes that she need to collect. However, there is a book titled "Rich Dad Poor Dad" by Robert Kiyosaki that your daughter should read when she is about the age of 8 or 9. The book is simple to understand and it advocates financial independence through investing, real estate, owning businesses and use of financial protection tacics.

hi... First of all, you should let the kid know the value of money and how hard it is being earned. you should also learn on how to consume wisely as what the kid observed from the parents they think it is right.I believe that what what the kids sees they also do. If your daughter sees you buying anything without explaining to her why you bought this and that, of course she would think money is really easy to spend.

for me the best way of teaching the value of money to a kid would be by letting them work for whatever things they would want to have. I have a six year old son and as a kid he always wants to have something new, be it a toy or even food or even a trip to the park. I always have him work for it by doing good in school and finishing all his school task. He gets to have the new toy or whateveer he wants if he abides by the rule. I always tell him that priorities should be made and that our priority for spending will always be food and education before his toys and other things. I also make it a point to have him with me when I do my groceries. He is the one who reads the price tags and I let him choose the one which is cheapest(but I always choose the brands and make sure that they are of good quality).