Camping with the Mediocre Dad

Camping tips, tricks and advice from a fairly average parent and a reformed dad blogger

Menu
  • Home
  • About
  • Camping
  • Family Days Out
  • Sponsorship
  • Twitter
  • Instagram
  • Why celebrate mediocrity?
Menu

Guest Post – When Baby’s First Word Is “Money”

Posted on November 3, 2016January 7, 2018 by Henry Elliss

One thing that children learn at an early age is the concept of money. It doesn’t take children long to understand that money is something they want, that having it is good and not having it is bad. Even at an early age, as your child’s awareness of the value of money grows, it is vital that we teach our kids how to effectively manage their money.

It’s a family affair

Let’s face it: for most people, learning about investing and economics and money management is not the most thrilling activity they can think of. Children become aware of money at an early age but that doesn’t mean they’ve developed an appetite for supply-side economics or portfolio creation.

Teaching children about effectively managing their personal finances can test a parent’s creative talents. Make the task easier by turning it into a family affair. Teaching the basics of money management and investing can take the form of family game night. Bring out the Monopoly game, gather everyone around the table and make a night of it. No television, no cell phones, no video games. Just good family fun that doubles as a lesson in basic economics.

Thinking ahead

A difficult thing for children to grasp is the concept that actions have consequences. This is a vital truth that they need to understand in order to function successfully in the world. Nowhere is this more obvious than in financial situations. Children need to learn early that not properly looking out for their money can leave them in a world of hurt.

If we teach children at an early age that saving for the future is a good thing, they will carry that habit into their adult lives. Saving for a rainy day, saving for retirement, saving for a specific purpose such as higher education — all of these are habits that will serve our children well if we teach this to them young. Teaching this can start with something as simple as a cute little piggy bank.

Watching the world

Observe what is going on in the world, then discuss these things with your child as he or she matures enough to understand it. Show them how events in the United States can impact markets in other parts of the world. Let them see how emerging markets can make a difference in economies on the other side of the globe. Pick your investing topics for discussion to supplement the lessons you’re teaching about effective money management.

Go with what they know

Teaching your children about investing can become a game. Give them a simple overview of how the stock market works, then show them how to find a few companies they know. Show them the logos on the boxes of their video games or toys.

Let them make a few “pretend” investments in the stock of these companies and help them track it over a period of time. You can make a poster for the wall where you can build a tracking graph over the coming weeks to illustrate how their pretend stock is doing. As they get older, this simple exercise can move into real investing.

Share this:

  • Twitter
  • Facebook
  • Reddit
  • Pinterest
  • Email
  • WhatsApp
  • Print

Leave a Reply Cancel reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

henweb

henweb

Pun-loving, 👨‍👦‍👦 dad-blogging, 📷 photo-taking, 🏰 Lego-making, 🎅🏿 beard-wearing, 👶 child-caring dad of 2. 💍 Husband of 1. 💩 Strategist

View Full Profile →

Instagram Gallery

A few photos from my slightly hair-raising morning A few photos from my slightly hair-raising morning walk. Some lovely sunrises, lots of ice on the canal and a couple of rivers and lakes that were quickly merging together, at the expense of the newly-laid track. At least my wellies stayed strong!
Instagram post 18021846115464989 Instagram post 18021846115464989
A photo from my Thursday morning walk. One good th A photo from my Thursday morning walk. One good thing to come from this week’s rail strikes (and the subsequent week WFH) was my daily sunrise walks - something I really miss when I have to go into London. Fingers crossed that 2023 allows for a few more of them.
Merry Christmas, instagram family and friends. Ple Merry Christmas, instagram family and friends. Please enjoy this photo of our beautiful but low-key Christmas decorations, hung in the splendor of our delightful Tudor home.
Good morning from Somerset #NoFilter Good morning from Somerset #NoFilter
Lovely moonrise this morning 😍 Lovely moonrise this morning 😍
Load More… Follow on Instagram

A little ad for some stuff




Subscribe by RSS

RSS Feed RSS – Posts

Recent posts

  • 5 Tips to Make Family Travel Easier December 2, 2022
  • 5 Great Camping Blogs You Should Follow August 18, 2022
  • Summer Holidays in the Mountains? 4 Reasons Why You Should Go for it! June 7, 2022
  • Family Camping for Beginners – A Guide to Buying a New Tent May 31, 2022
  • The Best New Beauty Treatments to Prepare for Summer May 31, 2022

A bigger ad for some stuff

Recent Comments

  • Family Camping for Beginners - The Ultimate Guide for first time campers | Camping with the Mediocre Dad on Family Camping for beginners – Food, glorious food
  • Tiana on Fatherhood²: The Ultimate Octonauts Quiz
  • The best camping gadgets for your next trip with the family | The Mediocre Dad on Family Camping for Beginners – The Ultimate Guide for first time campers
  • Dynamite dad blogs | Samuel Windsor on Family Camping for Beginners – The Ultimate Guide for first time campers
  • Family Camping for Beginners - The Ultimate Guide for first time campers | The Mediocre Dad on Family Camping for beginners – Camping with Babies & Toddlers

My Brimpton Village history website

My Mastodon profile

© 2023 Camping with the Mediocre Dad | Powered by Minimalist Blog WordPress Theme
Find me on Mastodon