My 2-year-old found a coin the other day. He had no clue what it was. When I tried to explain that it was money, I realized that he didn’t have any concept of money. Of course, he’s only two.
When I explained the basics — we earn money from work, we need money to pay for everything we have, etc. — he wasn’t interested in it. He just wanted to know if he could have more of these shiny, round things.
My son has been to the store with us. He knows it’s where we go to get food. However, he has never really paid attention at checkout — he’s always too worried about if I’m going to let him have a balloon.
How do you explain the realities of money and finance to small children? And at what age did you begin with your own kids?
I think I will give him a piggy bank soon, so he can start saving those shiny, round things.