It’s no secret that children benefit from learning how to manage money. Here are some ways to share some valuable money lessons at home for different age groups:

Ages 2-3:

Teach your youngsters the names of different coins by sorting and counting them, and talking about the color, shape and size.1, 2 Another fun activity for this age group is setting up a play store and letting them “buy” goods with pretend money.

Ages 4-5:

Create an imaginary restaurant at home and ask them to pay for the bill. Or let them be the waiter/waitress and bring you the check, and then make change as a cashier.1

Ages 6-8:

Coin collecting is a wonderful activity for this age group. Check out the United States Mint Web website for videos, games and activities.1 If your child is earning an allowance, this is an age when you can help them open their own savings account at a bank or set up a savings jar or envelope somewhere in your home.2

Ages 9-12:

Children this age can certainly learn to budget for the items they want versus the items they need. Letting your child sit in on a family budget meeting could be a great learning experience! This is also a good age to learn money skills through classic board games like Monopoly and Life.

Ages 13-15:

Kids this age can learn the value of earning money through small jobs like babysitting, raking leaves, or other household chores.2

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  1. Parents.com, “Teaching Kids About Money: An Age-by-Age Guide,” Aug. 22, 2019 2. Fatherly.com, “Teaching Kids About Money: The Financial Lessons Parents Should Teach Children at Every Age,” August 16, 2019