This is the age of play and rapid learning from observation. That means it’s time to have fun teaching about money. You’re setting the stage for how your kids will relate to money. Be thoughtful about how you interact with your children and others on financial topics, teach your children wisely, but most of all, have fun learning together.
Key Money Basics for Ages 3-4
- Explain that money is earned by working and that it’s used to buy things.
- Put the credit card away and use real money as much as possible when shopping with your kids.
- Teach the difference between nickels, dimes, quarters, and various bills.
- Work on counting, basic math, and relational money concepts (i.e., five nickels equal a quarter).
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- Play: Teaching money basics through play.
- Shopping: Talking about money while you’re shopping.
- Saving: Starting a piggy bank with spare change and discussing savings growth.
- Banking: Introducing your child to the bank.
- Role Modeling: Remembering to set good money examples.