Teaching Toddlers About Money.

by Michelle Vandepas | More from this Blogger

I don't think it is ever too soon to discuss money with children.

My parents rarely did - it's a generational thing I'm sure. My sisters and I didn't learn about balancing checkbooks or what our parents did on a day to day basis with their money.

I sort of knew that sometimes we had cash, and sometimes we didn't, but I know my mom never wanted us children to have to worry about their financial status.

Oh sure, my parents encouraged saving and having summer jobs, but I want to go further with my child.

I'm starting now.

My daughter is only three years old, but money is talked about on a regular basis in our home, without shame or guilt.

Just the facts babe.

My daughter 'earns' pennies, by sitting nicely in the grocery cart. She can earn up to three in one shopping trip, which can be redeemed at the end of the trip in the horse ride at the checkout.

Only a penny! What a deal.

She learned this a year ago, and it works well for her. No pennies - no ride.

We also talk about money for treats - ice cream, McDonald's, lunches out, the Merry-go-Round at the Zoo.

She may not completely understand the concept of waiting until next week for a Happy Meal, but she knows to quit asking if I say we don't have money in the budget this week.

In time she'll understand what that means.

We plan to have chores for her as part of the household, and opportunities to earn money each day or week. We'll probably start that in a few months when she is three and a half or four years old.

Stay tuned, I'll be sharing our experiences with you.

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Learn more about Michelle Vandepas

In a previous life, Michelle was president of a medical manufacturing company, and then in private practice as a holistic business consultant.

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