Skip to main content
  1. News
  2. Business & Finance
  3. Personal Finance

Make money health a family affair--part one

See also

Money health isn't just for the parents. By easing stress caused by misunderstandings of family needs and money basics, Capital Region families can essentially make financial literacy a family affair. This three-part series will look at topics appropriate for youth in particular age groups.

Financial Education: Ages 3-5

The first time your kids start asking you about money is the time to start building the foundation. The best place to start is by explaining what exactly money is! When you go to the store or eat out at a restaurant, show your kids what you’re doing so they see how money “works.” When you write a check or use the ATM at your bank, talk to your child about the different ways to use money. Explain that a check functions just like cash – as long as you have money in your account. Make every outing a learning adventure.

Keep It Concrete

  1. • Use cash around preschoolers – credit cards are too abstract.
  2. • Let them collect coins in a clear container so they see the money.
  3. • Show them that five pennies equal a nickel, etc.
  4. • Play age-appropriate games that build math skills. (One mother used her and her sons' interest in baseball to teach basic math by teaching the children to keep score of games.)

Communication is essential, and particularly around a topic that ranks as the number one stressor for Capital Region families.

Dave Balog teaches financial basics for Capital Region families. Click here or call 952-1257.

Advertisement

News

  • Jar-Jar is more popular than Congress
    A new poll shows Jar-Jar Binks is more popular than Congress
    Video
    Video
  • Missing girl found
    After 9 months of being missing, Abigail Hernandez is back with her family
    US News
  • Tree destroyed by beetles
    A tree meant to honor Beatle George Harrison has been destroyed by beetles
    Top News
  • Mystery flags on bridge
    Mysterious white flags have replaced the American ones on the Brooklyn Bridge
    New York
  • Weird Al album debut
    Weird Al's new album has officially debuted at no. 1
    Music
  • Broncos owner resigns
    Broncos owner Pat Bowlen has resigned due to Alzheimer's
    Sports

Related Videos:

  • Amsterdam Mohawks
    <iframe width="560" height="315" src="//www.youtube.com/embed/GVpd_j4aDA4?VQ=HD720&amp;allowfullscreen=true&amp;autoplay=1"></iframe>
  • Article title graphic
    <iframe width="560" height="315" src="//www.youtube.com/embed/T8KJ4-c-11s?VQ=HD720&amp;allowfullscreen=true&amp;autoplay=1"></iframe>
  • Weird Al Yankovic spoofs several popular songs on his new album
    <iframe width="560" height="315" src="//www.youtube.com/embed/8Gv0H-vPoDc?VQ=HD720&amp;allowfullscreen=true&amp;autoplay=1"></iframe>