Teaching kids at an early age about money is really important to start good financial habits. Kids Wealth is the perfect tool to help teach them. The early you start teaching kids about the value of money and budgeting the more responsible they will be when they are adults. We have been using the Kids Wealth program for a few weeks now with my 6 year old son Hayden and we all love it! You can check out my initial review of the program HERE.
For a few weeks we were teaching Hayden the very basics of money. We taught him what each coin, and dollar bill is called, and what each coin or bill is worth. We also taught him the very very basics of what it means to save, plan, and also spend money. The Kids Wealth parent booklet was a great guide to help explain money in an age friendly way so that Hayden could understand it. My husband and I wanted him to be ready for his very first pay day. At the beginning of every month we pay him $10. Hayden earns this by working hard at school, helping with his sister, obeying, and helping around the house.
The Kids Wealth program lays it all out of how to divide his $10. The program makes it so easy so there is very little thinking from me, and it is easy to keep everything organized. My husband and I talked to Hayden about his 5 different accounts, and what each of them means. Hayden has a wealth, plan, learn, fun, and angel account. His wealth account gets 30%, the angel account gets 10%, and the rest of the accounts get 20%. Hayden was fascinated and excited about the whole process. He told me he felt like “a business man.” He is excited about the idea of his money growing, being able to save for important things, and also things he wants.
This program has also helped my husband and I teach Hayden responsibility, and the value of our things. We just bought Hayden and his little sister Halli new clothes and shoes for Spring and Summer. I noticed one of Hayden’s brand new white shirts had a big hole by the collar! After some investigating we realized he wasn’t taking care of his clothes and he caused the hole. Now, instead of using his fun money for something fun he got to replace his shirt. It was really eye opening to him to see the cost of clothes and to replace the shirt. His fun money obviously didn’t pay for the entire cost of the shirt but it was a really great learning experience. I have noticed that he picks up his room more and also doesn’t leave clothes on the floor anymore. Hayden is really trying to take care of his things because he realizes things cost money, and we all have to work hard to get money.
I think personal and family finances are important to everyone. The Kids Wealth program is a really fun and easy system to help teach kids how to budget, save, and grow wealth! The kit includes a Calendar, Kids Guide, Money Kit, Stickers, Kids Agreement, Age Tracker Booklet and Money Tracker. Hayden uses the booklet everyday and loves it! There are really great interactive activities. He is having fun while also learning! I am so glad that I have such a great tool to help teach Hayden money at a young age. Making good financial habits and decisions now will make it easier to keep those habits when he is an adult. This program has already been so great for our family and I am so excited to see other great things we learn together.
Go to the Kids Wealth website for more information and to purchase your own Kids Wealth Money Kit. It retails for $19.99(plus shipping and handling). Kids Wealth is a fun and easy system designed to teach kids the value of money!
About Megan
What an awesome idea! This is such an important concept for kid’s to have a healthy foundation in.
Now that is giving real, practical skills kids need to learn in life. I think this is great!
Oh I love that! Definitely worth the $20 to invest (pun intended!) in your kids’ future.
Ok, I need to get this for the boy child. I’m teaching him about money as we speak.
This is great. I think it is important to teach children about money and that they can’t break toys and expect new ones to be given to them.
I agree, this is definitely a great idea for kids to learn about money and how to save it!
I really should have done something like this when my kids were younger. What a great idea.
What a great way to teach the kids about money! It looks like it makes it fun too! Love that it comes with all this stuff in the kit for a great price.
I love this! We’re working on teaching our five year old the basics of money {including that he can’t give me 10 pennies when he owes me 10 dollars}. It’s so important to help kids understand money early!
I love this! We’re trying to find ways to teach the kids about money as they grow up. Both my other half and I grew up without understanding how our parents managed the household budget, and we want to make sure we’re more open with our kids so they don’t feel lost when they’re finally out on their own.
what a wonderful program,,kids need to learn about money ,i think that is so important
What a great program – definitely worth the investment. My kids could surely need a little help with their financial wisdom.
I`ve been thinking about how to teach my kids how to treat money properly after reading R. Kiyosaki’s book. There is a lot of information about cashflow for kids. It was an interesting review for me as I am looking to get them something and I want to choose the one that gives the desired effect while also being fun for my son and daughter.