If technical training schools are in your future, there’s a good chance that money is also on your mind. Maybe you’re thinking about the best ways to pay for your tuition, or you’re just focused on how much you might make after you earn your diploma. As you will surely talk to your kids about your decision to return to school, there’s really no better time to teach them about money as well.
Why does money matter?
No matter how old children are, they may have trouble understanding why one of their parents wants to throw on a backpack and head to school like them. Sit them down and explain why you have made this decision. Are you enrolling in technical schools to fulfill a lifelong dream? Do you need to take courses in order to advance your career? No matter what the reason, be honest with your kids.
At the same time, talk about how having more education sometimes translates to higher salaries. If you have to leave your job or reduce the number of hours you work in order to attend classes, be honest about it. Your kids can learn valuable lessons about responsibility, making sacrifices and pursuing passions. You may even end up becoming a role model in their eyes.
Most importantly, if your family will have to cut back on certain expenses, be sure to explain why you may be eating out less or clipping a few more coupons than usual. After speaking to your children, they should have a better sense of what it takes to run a household and support a family.
Make learning about money fun
When you think of fun activities, working with numbers probably isn’t the first thing that pops into your mind. However, not only can learning about money be fun, but it can become a great opportunity for family bonding. There are plenty of games you and the kids can play that will expose them to a few financial basics. Here are two of the most famous:
- Monopoly – This classic board game is all about dominating the board and owning as much property as possible – without going bankrupt, of course. While playing, kids get to make important financial decisions in between dice rolls. Best of all, the game can last all night, which translates to hours of learning.
- The Game of Life – When you and your children set up the board for The Game of Life, you can teach your kids about the importance of financial decisions, as well as general life lessons like going to college, starting a family and preparing for retirement.
Benefits all around
No matter what approach you take to teaching your kids about money, they stand to benefit for many years to come. If they go into school with a firm grasp on topics like savings and interest, they may be a few steps ahead of their classmates. Furthermore, knowing how important money is may also help them make career decisions earlier in life.
Can you think of any other fun ways to teach children about money? Let us know in the comment space below.