Two Handle Pantry

Nine Practical Tips To Teach Your Child About Money

When should you begin to teach your children about money? It all starts by learning the names of our coins. Then, move on to the different denominations of the bills. With that in place, here are nine more ideas of how to help them to understand handling money.

1. Let them play store in your pantry. You can be the grocer to teach them the value of the items in there, and they can purchase their own lunch. Label items with their sales cost and allow them to buy them with money you give them only for this game. They should give that money back to you after the game ends.

2. When it's time for an ice-cream cone, let them learn to find the cost on a menu, and then let them pay the bill. Let them pay the bill with cash at a restaurant. It gets them ready to handle their own money when it's time to get an allowance.

3. Teach them that spending and saving habits are wise to develop. If you explain why you make the decisions that you make, they will learn your spending habits as well as develop the discipline to save.

4. I think it's a great idea to share the family budget with children, although I know there are those folks who don't agree with me. I can see no harm in a child knowing, at a minimum, pieces of the budget - for example, how much gets spent on food on a weekly basis. Teaching them how to read the prices at a supermarket or to look for coupons in a newspaper are habits worth developing and will help your children as they mature.

5. You can divide your family budget into several main subsets. They might be Donations, Investments, Savings, and What Gets Spent. If your child can learn the categories of the family budget, when he receives an allowance, help him to see those categories for his allowance.

6. It's always a big question when it comes to an allowance: should kids be paid for doing household chores, or should there be a regular allowance just "because" and then an additional amount as a chores reward? I'll leave that one up to you.

7. If you pay your child monthly, it will force budgeting on him or her. They will have to learn the differences between what he might need, what he merely wants, and what he wishes he could have. If you teach your children how to set goals by using budgeting, you will help him to understand what is most important and what is truly not.

8. Buy your child a small bank or find a large jar that you can see through and encourage them to put your coins into it so they can watch the money accumulate through savings.

9. When they get older, I encourage the opening of a savings account. A trip to the bank makes a child feel more adult and they love doing this.

I think it is important that you do not bail your kid out if he spends his whole allowance and runs out of spending money. No one bails you out if you do that, so let your child suffer through that dry period. It's a great handling-money-teaching tool and you'll develop your child into a fiscally responsible adult.

About the Author

Len Stauffenger's parents taught him life's simple wisdom. As a divorced dad, he taught his daughters

money handling.
He wants to share his simple wisdom with you. "Getting Over It: Wisdom for Divorced Parents", his book, is the solution. Len is a Reiki Master, an author, a Success Coach and an Attorney. www.wisdomfordivorcedparents.com

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The Homemade Pantry $13.99 “This is my kitchen. Come on in, but be prepared—it might not be quite what you expect. There is flour on the counter, oats that overflowed onto the floor, chocolate-encrusted spoons in the sink. There is Joey, the husband, exhausted by the thirty-five preschoolers who were hanging on him all day, and he is stuffing granola into his mouth to ease his five o’clock starvation. There are two little girls trying to show me cartwheels in that miniscule space between the refrigerator and the counter where I really need to be.”   In her debut cookbook, Alana Chernila inspires you to step inside your kitchen, take a look around, and change the way you relate to food.  The Homemade Pantry  was born of a tight budget, Alana’s love for sharing recipes with her farmers’ market customers, and a desire to enjoy a happy cooking and eating life with her young family. On a mission to kick their packaged-food habit, she learned that with a little determination, anything she could buy at the store could be made in her kitchen, and her homemade versions were more satisfying, easier to make than she expected, and tastier.              Here are her very approachable recipes for 101 everyday staples, organized by supermarket aisle—from crackers to cheese, pesto to sauerkraut, and mayonnaise to toaster pastries. The Homemade Pantry  is a celebration of food made by hand—warm mozzarella that is stretched, thick lasagna noodles rolled from flour and egg, fresh tomato sauce that bubbles on the stove. Whether you are trying a recipe for butter, potato chips, spice mixes, or ketchup, you will discover the magic and thrill that comes with the homemade pantry.             Alana captures the humor and messiness of everyday family life, too. A true friend to the home cook, she shares her “tense moments” to help you get through your own. With stories offering patient, humble advice, tips for storing the homemade foods, and rich four-color photography throughout,  The Homemade Pantry  will quickly become the go-to source for how to make delicious staples in your home kitchen.   

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Nantucket Distressed White Pantry $845 Nantucket Pantry is constructed of hardwood solids and engineered wood in a Sanded & Distressed White Finish providing an aged worn look. Features include storage drawer, two cabinet doors each containing two adjustable shelves, and antique brushed nickel hardware. Size: 30W x 16D x 71.5H

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