The President’s Advisory Council on Financial Capability recently released a wonderful website and poster called “Money As You Grow”, targeted at helping parents and children have more conversations about money.
Talking about money with kids is a topic that often comes up when meeting with clients, and I’m glad to see such a well-done tool become available to the public. It breaks down children into age ranges, from 3-5, 6-10, 11-13, 14-18, and 18+ and provides 4 specific pieces of financial education (called Milestones) focused on each age group. Each ‘milestone’ comes with 4 activities that can foster conversation and understanding between children and parents on the topic.
It seems there was a shift some years ago, where money became a taboo topic. Families don’t discuss money at the dinner table, and parents often try to hide money struggles from their children (which rarely works, just ask your adult children if you have them. They know when things are good and when they aren’t). It’s my hope that we can all talk more frequently about money. The more we talk about something, the less scary it becomes and the better decisions we can all make.
Take a moment and check out the Money As You Grow tool, and please share your thoughts with me about it and other tips you’ve got on teaching children about money!