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Home » How to Teach Kids Smart Money Management When You’re Not Great at it

How to Teach Kids Smart Money Management When You’re Not Great at it

February 15, 2017 by L. E. Mastilock 6 Comments

Tracking PixelI want my kids to learn good financial skills, but I know I’m not great at it myself. I’m so worried about teaching them the wrong skills! I’ve taken some financial planning courses, but there is so much information it can be confusing and overwhelming. I need something to explain in the simplest terms, in a way that is easy for me to share with my kids, the best money managing strategies.

This is post is sponsored by Beth Kobliner through Massive Sway. All opinions are my own.

Are you concerned about teaching your child good money management?

How to teach kids smart money management even when you are not great at it #moneygenius ad

I was excited to get my hands on the new book by Beth Kobliner, Make Your Kid a Money Genius (Even If You’re Not), now available at Barnes & Noble. Beth is the New York Times best selling author of Get a Financial Life. I’ve had the pleasure of reading her new book and I love how easy it is to understand and implement.

Make Your Kid a Money Genius (even if you're not) #moneygenius ad @BethKobliner | kids and money  | teach kids money skills | learning money management | frugal living |

I went to the book release party with my son and got to participate in a live Q&A with the author!

She had some great advice for parents with kids from ages 3 to 23.

Beth Kobliner book release party Make Your Kid a Money Genius even if you're not ad #moneygenius @BethKobliner

Watch the interview here:

My favorite part of the event, apart from hearing directly from the author and the food, of course, was the jars set out for decorating. For young kids, Beth advises, rater than the traditional piggy bank, to set aside three jars. One for giving, one for saving, and the last for spending money.

I love that the first is for giving! It’s so important to encourage our kids to think of others first. This is something very important to me and so lacking in our society. In fact, the author dedicates an entire chapter to giving back and explains the 3 jar concept in more detail.

 

Decorate mason jars as piggy banks and other tips to teach kids money skills ad #moneygenius @BethKobliner

 

3 jars rule to teach kids about money. Give, save, spend #moneygenius ad @BethKobliner | teach kids about money | thrify living | frugalliving | kids and money | teach kids saving | saving money | money lessons for kids | money smart kids

Other chapters in the book include topics such as how to talk to your kids about money, saving, benefits of working hard, losing debt, smart spending habits, and even insurance and investing. I hadn’t thought I’d need to discuss insurance with my child until he was ready to purchase it, but there are great ideas for discussing it at an early age.

Something that surprised me was her thoughts on teaching money habits at such an early age.

I thought I had more time to worry about it, but Beth suggests we start teaching skills that help with money management as young as preschool or even younger! There are many concepts young kids can understand and life long money habits may even be formed by the age of seven! Uh oh, what about my ten year old? Not to worry, she has great advice for all ages.

The book, Make Your Kids a Money Genius (Even if You’re Not) is laid out in easy to follow sections.

Each chapter has a section for preschool, elementary, middle school, high school, college, and young adult. You can quickly find what is relevant to you. Beth Kobliner shares practical tips for all parents on saving, investing, smart spending, and even how to talk about money.

The book is full of teachable moments that allow parents to learn how to teach kids favorable character traits that are important in all aspects of their child’s life: a strong work ethic, self-control and making choices carefully, perseverance in working toward long term goals, and a giving spirit.

This is a book that I will definitely be reading and re-reading, dog-earing and bookmarking as my children grow. I can now feel confident in teaching my kids to manage money in smart ways even though I am no genius with money. And many of the tips apply to me, so I can start making better financial decisions myself!

 

Make your kid a money genius even if you're not @BethKobliner ad #moneygenius

This is a sponsored post written by me on behalf of The Beth Kobliner Company LLC.

 



Filed Under: Educational Activites, Homeschool, Parenting Tagged With: books, education, Giving, Happiness, homeschool, kids, kids activities, Learn Through Play, Life, Parenting, reviews, self improvement

About L. E. Mastilock

Author, Artist, Pro Blogger, and Social Media Manager. I encourage parents to nurture children through art and nature. I homeschool my kids and advocate for alternative education, creativity, family values, clean eating, rescue pets, and a playful childhood.
I blog at naturalparentguide.com & RascalandRocco.com

Comments

  1. Nadine says

    March 14, 2017 at 7:24 pm

    We do the 3 jar system too!! But we’re really good about it for awhile and then not. But my 8 year old doesn’t
    Really have any cash flow. I’d love to read this book!! Thanks for the great review. Found you on the Love Learning blog hop.

    Reply
    • L. E. Mastilock says

      March 14, 2017 at 7:35 pm

      My kids don’t either, so I’ve filed the idea away for the future in case we do allowance or they are earning in another way. I really love the ease of this book. Not confusing or overwhelming.

      Reply
  2. Jennifer L Pitino says

    February 18, 2017 at 11:13 pm

    Thanks for this book referral, Leah! Hope all is well with you & yours… ❌⭕️

    Reply
    • L. E. Mastilock says

      February 21, 2017 at 11:25 pm

      Thank you so much! Yes, pretty good. I hope you are well, too. And this really is a great book for teaching kids about money!

      Reply
  3. Kerrie says

    February 17, 2017 at 11:35 am

    Love the Give-Save-Spend principle – really important to teach kids about what they can do with their money. Mine seem to only want to save so I have to buy all of the things they want!

    Reply
  4. Emily says

    February 16, 2017 at 4:43 am

    Looks like a great resource for teaching money management. Thanks for sharing!

    Reply

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Hello, I'm L. E. Mastilock. I am a lover of food, family, and nature. I encourage parents to live a green, healthy lifestyle and have fun learning together. I am a published author and multi media artist, homeschooling my kids in the beautiful CA mountains. Read More…

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