What To Teach The Kids
Even at my age I still have a money box, a hangover from my preschool days.
When I was much younger I was able to empty my money box with a knife and much patience – not to raid the contents but to count them, before putting all those pennies and halfpennies back where they belonged.
Habits die hard. I never leave home with coins in my pocket with a value of less than a dollar. All the change I get that’s 50 cents or less goes into a 25cm high “money box”. It fills slowly but when full produces a cash deposit of around $350.00. I guess this will end once we become a cashless society – we’re not there yet but may well be in the reasonably near future.
Learning to deal responsibly with money can’t start early enough for kids. Unfortunately it’s never true to say “If you haven’t got it you can’t spend it” hence the imperative learning relates to prudence and discipline.
You might need to use different words when explaining saving to a five year old!