Teaching your Kids about Money with Matt Matheson

Teaching your kids about money can be intimidating, but it doesn’t have to be. This is everything you need to get started and create financial literacy in your homeschool.

Why Is It Important For Parents To Teach Their Kids About Money?

If the last year has taught us anything, it’s that life can be unpredictable. In this economy, it’s been a year like we have never seen before.

The good new is, our kids’ financial future doesn’t have to be uncertain. We can provide our kids with everything they need in order to become independent and successful adults.  We spend hours working with them on their homework, enrolling them in summer camps, different sporting activities, piano lessons, but when it comes to money  (which is something that touches literally every part of our lives) we are often not intentional about educating our kids.

Families need the right tools in order to raise money savvy kids who experience financial peace. These money principles and resources are designed to equip parents to teach their kids about money.

5 Money Principles Parents Should Teach Their Kids

Matt Matheson is a husband to an awesome wife and father to three little munchkins. He’s a principal by day and the founder of Family Money School by night. It’s a site all about helping kids, and the parents who love them, become money rock stars.

Matt breaks down the complexity of financial literacy into five big, easy to understand ideas for kids.

1. The Connection Between Working And Earning Money

Kids need to know where money comes from.  They need to know about the value of work and the connection between working and earning money.  That is something that they are going to be faced with for their entire lives.

2. How To Spend Wisely

The second principle is how to spend and spend wisely. Credit cards, debit cards, cash?

There are massive numbers of people struggling with debt. But it is more a spending problem, not an earning problem. A recent statistic showed that almost 40% of people making over a hundred thousand dollars a year are living paycheck to paycheck.

Teaching our children to spend wisely is essential in their financial education.

3. How To Save

Next, we need to teach our children how to save.

This is something we can start teaching when our children are really little. Things like delaying gratification, giving and saving lay the foundation for things like investing. As kids get older, we can introduce them to more advanced concepts like 401ks, ROTHs, stocks, bonds, etc.

teach kids about money

4. The Importance Of Generosity

One thing that is often missing in financial education, especially for children, is the value of giving.

The key to experiencing financial peace is actually being able to give your money away. Once our children are able to give, they’ve arrived at a measure of financial peace and literacy.

5. Money Isn’t Everything

The last money principle is perhaps the most important. Money isn’t everything.

Money is important, no doubt, but it needs to be put in the proper pecking order of life. Things like faith, family, and health should be all be valued above finances. Making sure that money is in the correct place in our own lives as parents is important. It’s something we pass on to our kids.

In summary, these top five money principles are: how to work, how to spend, how to save, how to give, and that money isn’t everything.

Listen to the Podcast:

How To Add Financial Education To Your Homeschool

As a parent, it can feel daunting to add teaching our children about money to the list of everything else we have going on in our lives and our homeschools.

The good news is, according to Matt from Family Money School, it’s not about how much time we spend, it’s about being intentional about teaching them basic money foundations.

Kids learn best when learning is authentic and meaningful and we can take advantage of the many teachable moments that happen every day. It’s about having these types of conversations with kids, in the moment as a part of real life.

Taking advantage of a teachable moment, even something as simple as when you’re paying for something with a credit card and taking 30 seconds to explain that to your kids, is one of the best ways to help our children learn about money.

Not to oversimplify it, but these teachable moments are all over the place. It’s just a matter of taking a little bit of time and being a bit more intentional.. It’s not necessarily sitting down for a formal lesson, but teaching these things throughout the day as we go about our lives and we’re living life together.

Resources To Help You Teach Your Kids About Money

Family Money School offers two courses to help you as your educate your children in financial literacy.

family money

The first course is Young Money Adventure. For kids 12 and under, this course equips parents to help their kids to become money-wise by giving them the tools they need. Because it is for younger learners, this course is parent directed and has tons of hands-on activities to use with your kids. Video lessons are short and to the point. They take only about five minutes and are then followed with a fun activity.

The second course is Money Genius Academy and is for  teens ages 13 to 18. It includes 50 video based lessons. about savings, investing banking and debt. It includes a discussion about working and giving.

family money school

Young Money Adventure is typically $67.00, but Family Money School is offering the course for only $47.00 for our readers. The Money Genius Academy is typically $137, but you can get it today as well for only $107. Or, bundle together both courses, Young Money Adventure and Money Genius Academy in the Ultimate Family Money School all for only $127.00.

You can find all the details HERE. Offer expires October 31, 2021.