Teaching Kids about Money

Capture3The best way to teach children about most things is to bring the applications of those things in everyday life. Even teachers now resort to gamification and the creation of real life situations to more effectively teach the students. Even very young kids already know that money is what you use to buy things. You can improve your child’s mental math by asking your child to handle ‘reasonable’ amounts of money next time you go to the store. Talk to the child about which notes to use, how much change you got etc.

As an extended activity, you can easily talk about different currencies of the world. You can discuss how every country has its own specific money and that it can differ in value from the money of your own country. Here is a fun online shopping activity as well. Have kids print out the notes of your country’s currency and make a collage with them. Tell them about the denominations. If they receive pocket money, encourage them to save up a portion of it and sometimes give a small amount to charity,

Now would be a great time to discuss the tenant of lawful earnings in Islam, the good ways to earn money. Stealing, cheating, gambling are all big NOs. In our religion, there is a dua for so many things including means to earn lawfully. You can easily teach it to the kids and make them aspire to this very important principle from a young and tender age:

Capture9I hope this gives you some ideas to engage your child. These basic things if taught earlier on leads to a stronger moral compass in them when they become adults.

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2 thoughts on “Teaching Kids about Money

  1. ricodilello

    When my children were young, I assign a value to a household chore to earn some extra money. Some chores like picking up their toys or cleaning up the dishes were unpaid to teach them that they were part of the family and needed to share some responsibility. Money that they earn, only half could be spent, the other half was for saving and giving to charity.

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