What do your kids know, and what do you assume they know? Often the difference is much wider than parents might want to think. For example, many parents assume that their kids don’t know, and don’t need to know, much about money, whether it’s going well or whether it’s giving the family some bumps in the road.

But kids are more perceptive and probably keep things to themselves a little bit more than parents expect. They know the family will be affected if there’s a job loss, for example, and they want to help—without being scared.

And children also need to know the value of money, otherwise they’ll be set up as adults to make some of the same mistakes you might have made. They have an ability to understand money in age appropriate terms, and to know what a dollar (or more) means. So how do you do that?

This graphic from Discover explains it.

 

Foto Credit: Pixaby


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