Kids and Money? Discussion and coupon giveaway!

by Tabitha @ Saving Toward A Better Life on May 26, 2010 · 8 comments

in About Me,Giveaways,kids and money,pictures

Bug was having a good time playing with my old coupon organizer. I gave him a couple “coupons” to put in and take out. 

Am I training him well, or what?  ;)

He’s only 19 months old so he doesn’t understand money and where his stuff comes from.  But I’m already thinking of how I’m going to teach him the value of a dollar and how to save and plan and budget and work for what you need and want.  I’ve been debating in my mind how we will do allowances.  But most of all, I’m trying to prepare myself to be a good example of saving and spending wisely.

I’d like to know YOUR best advice when it comes to teaching your kids about money.  Please comment below!  

One lucky commenter will win a coupon prize pack!  (Please make sure you leave an e-mail address!)  Three comments allowed per person as long as they pertain to the post- give advice, ask a question about the topic, answer another readers question, etc.  “Hi, please enter me in the contest” will not get you an entry but “Your son is adorable” might. ;)  Thanks!


Comments must be made by Sunday, June 6 at 10pm CST to be eligible for the contest!


Thanks for your advice and participating in the discussion!

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{ 8 comments… read them below or add one }

1 Dede May 26, 2010 at 12:58 pm

I try to be extremely realistic with my kids about money. My daughter knows that we have debt, and that we are working very hard to pay it off. I don't let her worry over it like I do, but I try to paint as realistic a picture as I think she can handle. She knows that debt is BAD!!! lol

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2 Anonymous May 26, 2010 at 2:53 pm

I think setting a weekly or monthly allowance per kid is a great idea! When they want something really badly and have run out of allowance money, they'll learn the importance of saving.

the.anonymous.ett@gmail.com

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3 Anonymous May 26, 2010 at 2:54 pm

I think letting kids grocery shop with their parents is also a good idea so kids can help scope out the best deals and learn all about couponing, sales, etc.

the.anonymous.ett@gmail.com

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4 Anonymous May 27, 2010 at 9:10 am

We teach our oldest daughter (12 years old) that you have to work for things. She has weekly chores to do. She doesn't get an allowance, but if she does what she is supposed to do when she wants something and we see the value in it we will get it for her. On another note, she decided to download music onto her cell phone recently which cost us a hefty note. We are having her pay it off with birthday money she received and by doing house work for friends/family. As for my 3 year old son he likes to help mommy cut out coupons. I have an i-slice for him to use. He doesn't really understand, but someday soon he will.

Rebecca K.
barbeeba@yahoo.com

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5 winterbabe98 May 27, 2010 at 10:44 am

We do use coupons at the store, and I try to teach our 11 year old son to help me use coupons for things that we really need and buy on a regular basis. Plus, he uses his iphone's calculator to help me with figuring out how much something costs per ounce, to see if the larger or smaller item is more cost-beneficial! We share our coupons with the neighbors if they are for things that we don't use or know that they need.
barbs562 at gmail dot com

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6 Tabitha May 27, 2010 at 10:54 pm

Rebecca, I can't wait until the day I can give my son a pair of scissors and let him clip coupons with me. ;)

Winterbabe- I like the idea of the calculator and letting him figure costs. I bet he'll grow up to be good at math!

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7 Ashley June 1, 2010 at 1:51 pm

my girls know we are short on money. they help me sort coupons, take out old ones… etc. They also help me look for my items in the store from my coupons and we brag about how much we save! For allowance, I like the idea of a jar for savings, tithes, and fun money – dividing what they get each week. when they SEE where it goes they udnerstand better, plus… when they want something and have to use their own money, they think twice about buying! It doesnt help though that grandparents get them "whatever they want"!
ashleymomsmith@gmail.com

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8 Amanda June 2, 2010 at 2:54 pm

I don't know what approach we will take with Will. I do know that I am going to use the give-save-spend method I have read about. Whenever your child receives money (allowance or gift) you teach them to give (tithe) first, then save a portion, and then allow them to spend some on something they would like.

Also, we will most likely set up chores for Will to earn his allowance.

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