Do You Think This is a Good Idea Teaching Kids?

When I was in teacher training, I wrote a unit about finances for my final project. I got a good grade, but I never got a chance to teach it in the classroom. It's a good idea, but I would do it as a game first, and design the game so that it is fun.

I also think kids need to learn how to manage their money, I am not sure which age they can really understand the finances, I would guess at around 8-9 years old maybe. My neighbor asked her kids recently to sell their old toys. They created a "yard shop" and sold each toy for 1-2 euros. I think this would be a good idea to teach kids about money and saving. I wouldn't agree with charging rent, but they could contribute in buying their new toys by selling the old ones for example.

I do think it's important for children to learn about finances. But to charge them - that's an interesting concept. I was taught to save early on, but loosely . . . I wish I had learned more about deeper financial stuff.

@RebeccasFarm Yes;it is.However teaching children is not easy.I had tried it once.You have to be a child yourself to make them understand the subject.

I am impressed. She is doing it so well and with such fun and light hearted way. Definitely a great way to bring financial discipline in children. The younger it comes, the better it is. They will respect money and value it. A great life lesson is being taught in a very age appropriate way.

When I was a kid, my parents taught me how to save. I think it's good for kids to have some concept of saving. But parents charging their children rent and groceries have gone too far, in my opinion.

It think it is important for parents to teach their children about finances. Even if they learn at school, learning should start in the home. Of course, I realise that isn't always possible. I think that charging young children rent, etc. is too far. However, I see no reason not to teach them about it from whenever either they ask questions or the parent feels it appropriate/seizes an appropriate opportunity. Once they're adults with their own income, then I agree that they should be paying their way.

I think that kids are much smarter and growing up quicker than I did. They need to know and understand these things as early as possible. Just my opinion.

I taught my kids about money really young. They were given money and had to decide what they could afford to buy.

I agree children should be taught financial responsibility from a young age, but on a level with their ability and age.

In general, I think it is a good idea. Children do need to learn how to manage their money.

My parents taught me how to manage money, and I taught my children. We didn’t have to pay rent though. I had my kids write out all my cheques and deduct the amounts from my paycheque. That opened their eyes. I’m not sure how much of it should be taught in school. It can be quite personal.

It's nice teaching kids about finances. I was taught how to save.

Yes, It's a good idea. We learned something similar. We had exercises, we had to start businesses. It was very interesting. But I don't think it's a good idea to charge small kids for rent. They will have their whole life to pay bills and food. When I was a kid I didn't have any money.

I was thinking it should start with Monopoly money, but I can pretty much guarantee those kids won’t be up to their noses in debt when they’re in high school.