One of the most fundamental financial lessons your kids are going to have to learn is about how you work for your money. Do your kids understand that every time you pull out a wad of bills or swipe a card to pay for a purchase, that money is directly linked to time you put in at the office? Do they realize all of your money is earned through hard work?
Here’s how to make sure your kids – at any age level – understand this concept.
Teach your children that money for purchases, whether it’s paid through cash or a card, is earned through hard work.
Pointers to cover:
Money is earned through work
Every dollar spent is time you spend working.
Any method used to pay for purchases comes from the same source.
Conversation Starters (Kids under age 9)
What do you think mom/dad does all day at their job?
We work to do what our bosses want and need. How do you think our bosses reward us?
When we spend money for pizza, groceries, toys or movies, where do you think that money is coming from?
This is mom/dad’s paycheck from work. When we give it to Heartland, we have money to spend. Why do you think we put the paycheck in our account at Heartland?
When I swipe my credit/debit card, how does that pay the store owner? Where is the money coming from?
Conversation Starters (Kids over age 9)
Why do you think people work?
Do you think people who work harder for their money spend it more carefully?
Would you still want that (article of clothing/toy/gadget) if you had to work for it?
If you had the choice to work 16-hour days for double the salary of an 8-hour day, would you take it? Why or why not?
Talk to your kids about money, keep it fun and watch the results!
You are leaving the Heartland Credit Union website. The website you are linking to is not operated by Heartland Credit Union. We are not responsible for any content or information posted to this external website. Heartland Credit Union is not responsible for, nor do we represent you or the external website if you enter into any agreements.
Privacy and security policies may differ between our website and this external site.
To provide the best experiences, we use technologies like cookies to store and/or access device information. Consenting to these technologies will allow us to process data such as browsing behavior or unique IDs on this site. Not consenting or withdrawing consent, may adversely affect certain features and functions.
The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network.
The technical storage or access is necessary for the legitimate purpose of storing preferences that are not requested by the subscriber or user.
The technical storage or access that is used exclusively for statistical purposes.The technical storage or access that is used exclusively for anonymous statistical purposes. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you.
The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes.