Comments on: Kyle’s Coupons: Teaching a Kindergartner About Finances

By: Mark Nelson

Mark Nelson — Wed, 11 Jun 2008 13:03:04 +0000

Wow. You are doing a great job teaching about money. It is our responsibility as parents to teach our kids financial responsibility. I would encourage to teach them about giving back.

By: Friday Link Love - Yard “Sailing” Edition | One Caveman's Financial Journey

Fri, 06 Jun 2008 14:47:06 +0000

[...] beingfrugal.net – Kyle’s Coupons: Teaching a Kindergartner About Finances [...]

By: July Bucks

July Bucks — Thu, 05 Jun 2008 13:56:01 +0000

I believe teaching kids about money is a must for any parents. If you teach your child how to spend and manage money wisely, not to save it, he will learn from your example that money needs to be earned. I also think that it can be a good idea to pay your child for helping you with some chores, so that he has some money to spend and to save :)

By: Mydailydollars

Mydailydollars — Thu, 05 Jun 2008 11:44:10 +0000

I like how you set your son up with a job where someone else pays for his work. He’s really able to understand that most of us work for our income in a way he might not if you just dole out an allowance. Nice job!

By: Petula

Petula — Thu, 05 Jun 2008 02:28:53 +0000

Great post about how you’re teaching your son about money and saving. It’s funny how I’ve already done this with my oldest who’ll be 17 very soon and realize that I have to start all over! My younger children are 4, 3 and 1. It’s time I start with the two middle ones ’cause they’re always asking for stuff… absolutely no concept or understanding of “we can’t afford that right now.”

By: Kyle

Kyle — Wed, 04 Jun 2008 18:23:54 +0000

Bonnie, I wrote the article and I completely agree with your points and that will definitely be part of the teaching for my son as he gets older. Gotta crawl before you can walk though.

By: Bonnie

Bonnie — Wed, 04 Jun 2008 17:48:41 +0000

It’s disappointing that the article nor any of the comments so far, mention encouraging the child to have a special savings to pay for their own college. Making the connection between how much money you make and how good your grades are, and what major/career path you choose, and extracurricular activities you do, should be started early and reinforced throughout the child’s life in the parents household. Knowing that you have X in the bank for college, and based on what you want to do, you are going to need stellar grades to get the scholarship to help you attend the college of your choice, because you don’t have enough savings, is a bigger motivator to get better grades than any punishment the parent can meet out.

But more than all that, it’s a way of focusing the child on self investment. Savings for a rainy day, or a toy, is just savings for consumption. Savings for college or starting a business is about investing in your self and funding your own dreams.

By: Foxie

Foxie — Wed, 04 Jun 2008 14:00:15 +0000

Hang on, *I* want the ATM piggy bank! :) (Some strange part of me wants to start collecting piggy banks and filling them all with change… Too bad piggy banks don’t generate interest.)

This is another thing I don’t want to have kids for, I’m an awful teacher sometimes… I never got an allowance as a kid, but when I was around 13 or so my Mom started letting me watch her handle the finances. I watched the whole struggle with debt and everything enough to learn I didn’t want it myself! I also learned how to save money, clip coupons and grocery shop, though I still have a long ways to go before I reach my Mom’s level of grocery shopping.

I always liked getting change as a kid and putting it in my piggy bank, the sound it made going in was always satisfying to me. :) I still love that noise too, so I still save all my change! When I was little, a penny was a precious resource, why should I look at it any different now?

By: Kristen

Kristen — Wed, 04 Jun 2008 13:38:29 +0000

I just heard of a new “toy” for kids that could be a great teaching tool when they are of age to learn about debit cards. It’s a piggy bank that works like a little ATM machine. If the child wants money, they insert a card to get the money and can see how much they have left.

I have a friend whose son wanted her to buy something. She said, “I don’t have any money right now.” His 5-year-old response: “Just go to that machine and get some.” Kids don’t understand that the money doesn’t just appear like magic. I think this piggy bank would be a good way to help them to understand that you can’t take out what you don’t have.

By: msharma

msharma — Wed, 04 Jun 2008 13:32:56 +0000

What is a good age to start teaching the kids about money? My two and half year old tears paper to pieces but when it comes to money she holds on to it. It’s amazing to watch her how she folds them and stacks them away.I don’t know how she learnt the concept of money but it’s fun watching her.