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Host: How should parents introduce money to preschoolers?
Rene Hackney: Part of it is, is building in the money throughout the day, another way is to build some chores that they can earn some allowance, for it. To really teach kids about money, they have to able to have some money. There are some, who suggest that you should just give children money, that it shouldn't be tied to chores, but the idea of that it looses half the lesson, children who are just given money don't know the relative value of money. Then when they go to buy something at the store, they know maybe they have to wait a little longer for it, but they didn't have to make their bed a certain number of days more. There wasn't any work put into earning that money, so it looses its relative value. So, the idea is even as young as three years old give them some chores that they are responsible for, that are tied to an allowance.
Expert: Rene Hackney
Originally a full-time preschool teacher, Dr. Rene Hackney now holds a Master?s in school psychology and a PhD. in developmental psychology from George Mason University. She trained at the Developmental Clinic at Children?s National Medical Center and for the public schools, teaching in parenting programs at each. She has also acted as a consultant to several area preschools.For the last four years, Dr. Hackney has More »
About This Video
In this video, parenting educator Dr. Rene Hackney reviews the guideline for teaching children about money and the role of chores and allowance. This information is provided by age and includes teaching about More »
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Tags: Money, Finance, Child, Children, Parents, Parenting, Banking, Allowance, Chores, Work, Job, Spend, Save, Savings, Charity, Living, Expenses
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