Managing funds is one of the most critical skills we must master to function effectively as adults. Yet, although public schools address the subject of money using math examples, teachers just do not have the time for individual tutoring.

So, just who is really responsible for this critical education?

PARENTS might teach their children money lessons as soon as they may count. Otherwise, your toddler can reach his own conclusions about where funds comes from. He may decide it does not grow on trees; instead, it comes from an ATM (Automated Teller Machine).

As your kids primary financial coach, you will show your toddler, young child, teenager, or college-age adult child the assessment of value of managing his own funds . You can find that you are such a talented teacher that your child opens her own profitable business and supports you!

What Are Ways to Teach Your Child?

Toddler
Your toddler can learn to count money as soon as he may talk. Show your child a few coins and introduce simple math facts. Hell learn the vocabulary and the facts if you contruct it a game. But a word of caution: discourage eating the coins!

Middle Childhood
Suppose youre in a restaurant having breakfast, just you and your child. Give him a reward if he can estimate the total bill to the nearest dollar. Hints are allowed!

TeenAger
Provide your teenager with a challenge to figure out how much it costs to run the car every month. Both of you could be surprised!

Young Adult Before your kid marches off to college, show him your credit card statement. Have him calculate the total amount if it we are NOT paid for a few years.

How Do You Know If Youre Successful?
Youll see the signs that the financial genius is developing in your child. There will be glimpses of recognition that your child understands how money works.

The real payoff comes when as young adults, they handle financial issues confidently based on prior understanding and experience. You have successfully raised a financial genius.