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The Piggy Bank: Sensible Spending for Ages 6-8

By Kimberly Shane

The Piggy Bank: Sensible Spending for Ages 6-8

Piggy bank sensible spending ages 6-8 blog-01.jpgI was lucky enough to stumble upon an amazing infographic that laid out some age appropriate lessons that lend themselves to sensible spending in the future! This is an important topic because while our kids are learning a lot of valuable information in school, only 17 states require a high school course in personal finance. That means this responsibility falls on the parents. This week we are going to look at the recommendations and abilities of a child between the ages of six to eight.

At this age parents can begin teaching basic concepts like earning money, spending habits including making purchases and paying bills. These concepts can start being taught at these ages because kids can add and subtract and are beginning to think logically, this is due in a big part to the fact that these skills are required at school. Creating those spend, save and give jars will help them figure out how to split their money up so that all goals are being met. This also creates healthy financial habits early on. 

By doing these things you will be setting the foundation for your child’s personal financial outlook and will be able to build on a strong base. Check back next week as we continue into the next age bracket!

Sources: http://www.visualistan.com/2015/04/the-road-to-responsible-spending-infographic.html

 

Tags: Finances, Money, #SMCsmartmoney, financial