Family Matters Newsletter - December 2008

PDF versionPDF Version



Money Skills for Children

By: Mary Snow, Colorado State University Extension, Family & Consumer Sciences, Jefferson County.

Start early to teach children the value of money. How to budget and save are basic life skills. Many experts say that if the child is old enough to ask for candy and toys, they are old enough for financial awareness. As soon as they learn to count, you can start teaching them about the concept of money.

Children, three to five years old can count simply. They are learning to identify coins. When shopping, use change to allow children to make spending choices. Limit choice to one or two items. Let them pick and pay for the item.

Between the ages of five and ten, children begin to understand more complex math skills. Practice with them by using different coin combinations for one dollar. This will also help the child's math skills.

Provide opportunities for children to earn extra money doing jobs that are not included in their regular responsibilities. Suggest they contribute a portion of their money for gifts, saving and spending. This helps children to make decisions, plan, save regularly and share with others. Use containers labeled "Spend", "Save" and "Share".

Take the child to a bank or credit union to open a savings account. This is a great way to help them save. They will gain an understanding of the value of money. They can also learn about interest and future investing.

Include children in the family shopping. They can learn what things cost and smart shopping techniques. This is a perfect opportunity to let them practice unit pricing (math skills) and decision making skills. Talk them through the decision process. For example, "I am buying this brand because..." Or "I have a coupon for this item..."

Allowances for kids
An allowance is a certain amount of money given on a regular basis. It is a way for children to learn about the value of their money. Allowances also enhance ways to teach responsibility and discipline.

Allowance amounts depend on several factors - age, maturity level, interests, responsibilities and the family's financial situation. Decide what the allowance is supposed to cover. What amount is to be saved? How much can they spend freely? Separate family chores from allowances.

Let children make decisions and mistakes with their allowance. Do not give them more money just because they might over spend. Talk about their decisions, good and bad. Use their choices to help the child learn for future spending.

Put the allowance agreement in writing so everyone knows what is expected. Review and adjust the allowance accordingly to keep up with the children's changing needs, interests and needs. Also, consider the family's financial situation.

Use money in positive ways. Do not use money as a reward or penalty. Money can be reward for good behavior but do not use it as a bribe. Avoid paying for good grades. Children should be encouraged to earn good grades regardless of an allowance. School is their job.

Include children in family financial discussions. Keep details simple. Give children a sense of your family position, values and priorities so they understand boundaries. Set family savings goals- a vacation or special event. Remember good financial skills are learned skills. Give your children the head start with good habits that will help them throughout their lives.

Go to top of this page.


Healthy Kids - Healthy growth

Most children will grow about two inches and gain about four to seven pounds per year. Between the ages of six and 12, youngsters will grow an average of one to two feet and almost double in weight.

While children often have definite food likes and dislikes, dietitians and nutritionists recommend parents make available a wide variety of foods. Encourage the tasting of new foods in small quantities without forcing the issue. Children will often come to accept and like new foods. Experts urge parents not to insist that children "clean their plates." Children may benefit from choosing their own portion size, if the food is wholesome and nutritious. Food should not be used to reward or punish behavior.

Go to top of this page.


Active Kids - Counting

Money, math and physical activity - a learning team. Physical activity and movement enhances fitness, fosters growth and development of children. It helps children learn about their world. Incorporate physical activity to strengthen basic math skills (counting) while improving motor skills. Encourage your children to hop, skip and jump. Count the number of hops from the kitchen table to the refrigerator.

When you teach children about money, it helps to learn to count by 1s, 5s, and 10s. Have your family stand in a circle and raise one hand. Walk around and touch each hand. Count by five as you touch each hand. Have them lift both hands when counting by 10s. Vary with fun activities such as having the kids jump up to tap your hand or clap their hand against yours.

Information Provided by America On the Move. Visit: www.americaonthemove.org.

Go to top of this page.


Healthy Kids - Reading Skills

American families are reading less and less. Adults read only an average of 8 minutes a day during the week and 10.5 minutes on the weekend. Most do not read for pleasure. Only one third of high school students read proficiently. By third grade, if a child has not learned to read, the likelihood of their developing mastery of the written word is low.

Why is it Important to develop reading skills?

  • Infants and children who are not involved in the reading process are at risk for developmental delays.
  • Language development and cognitive ability are linked to a child's early exposure to books
  • The number of books in a home is directly related to academic achievement levels for children.

Reading materials need to be appropriate for low-level readers. They should be eye-catching and easy to understand. Children's picture books can provide early learning. Simple picture books can teach concepts of health, fitness, good nutrition and positive social and civic skills.

When parents and children sit together with a simple but informative book, learning and conversation about the subject takes place. Reading together provides the opportunity for parent-child bonding, the building of literacy skills, and reinforcement of the benefits and joys of reading.

Go to top of this page.