Kids may not understand the details about money. They may not know, for example, the cost of the lessons that they so love so much. They may not get that when you buy groceries, there are different items that cost different amounts—even types of cereal for example.
But that’s perfectly natural: Kids haven’t yet had the life experience that it takes in order to accumulate those pieces of knowledge that guide you every day. But just because they haven’t gained those experiences doesn’t mean that you can’t impart age-appropriate wisdom to them. How you do it, though, is another question.
For example, you’d be wrong to assume that kids don’t know when there’s bad news or when there are financial pressures that are impacting daily life. What you need to do is figure out how to explain things to them in terms they can understand. What else can you do to teach your kids about money? This graphic explains it.
Click to Enlarge Image
