Learn About Money Matters

Children quickly realize how important money is. They see us use cash, write checks and plastic cards. If you're a parent, have you repeated your parent's words yet - "Money doesn't grow on trees!"

Unfortunately, most of us didn't learn too much about the financial world from school. Most of what we learned was from observation, basic instruction from parents, and trial and error in the real world.

As adults, many have been rejected for loans and mortgages, found themselves drowning in credit card debt, and many marriages have been torn in two by arguments over money and the lack of it (no matter how much or how little money is earned by the family). As parents we don't want that for our children, and we want to pass on any wisdom we have learned.

However, the fact remains that many of us would like to have a better handle on how to control money, instead of feeling like our job's paycheck controls us.

Do you think a review of how you're using money is a good idea from time to time? -- especially since you are trying to teach your children about money matters?

We know they're watching us, don't we - from the time they see us use money to buy something from the store to the time they are responsible for setting up their own home.

What comes first?

Learn to Count Money

We learn how much each piece of money is worth, and how to count it of course.

If you'd like some resources to help learn these basic skills, check out Basic Math Worksheets.

Rich Kid Smart Kid

Learning about money is much more than learning to count it. Keeping track of it, and making it work for you are skills every adult needs. The Rich Kid Smart Kid, by Robert Kiyosaki, is an excellent book to help parents teach their children to have money work for them, instead of being enslaved to it.

I'm not so sure this info is just for kids. I didn't have any teachers in school teach me this. Maybe you didn't either. I found it to be an enthralling read.

His website has 4 interactive games designed so kids can learn about making money, understand the trap of debt, and grasp how to get money working for them, instead of always working for money. You can also purchase the Cashflow 101 game.

Canadian Foundation for Economic Education

The Canadian Foundation for Economic Education, along with The Investor's Group have given us a wonderful teaching resource called "Money and Youth." To find this 133 page course book, choose the link called "The Book" at the top of the page. There is also a teacher's guide and a parent's guide.

The book is typically designed for grades 9 and 10; however, I think you'll find you can use the information at all ages.

Chapters 1 to 4 help students explore their goals, preferences and ambitions in life. This isn't just for youth; adults should regularly examine and reexamine their life's goals as well.

Chapters 5 to 8 help youth prepare for entry into the workplace, either as an employee or entrepreneur.

Chapter 9 helps students develop financial planning skills.

Chapter 10 teaches about credit.

Chapter 11 takes the topic of credit further and looks at major expenses in life like education, car, housing and children.

Chapter 12 and 13 give some of the basics about insurance and investing.

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