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University of Illinois at Urbana-Champaign
College of Agricultural, Consumer and Environmental Sciences
Children Need Help
Teaching Children About Money
Where the Money Comes From
What Children Should Learn
Preschool Years
Elementary School Years
Teenage Years
Problems Children Have
A Final Word
Money is many things to children. To very young children, money is simply a shiny penny or dime, or the jingle coins make in their pocket or hand. Then they learn that coins are more than shiny and jingly--they can be used to buy candy and toys. Before long they notice that you use coins plus some "green stuff" to buy food and clothing and many other things. They may begin to think that if you have enough money you can get anything you want.
To older children, money is what they get for working for Ms. Cunningham, or Mr. Webster, or Ms. Black. They mow lawns, shovel walks, or babysit, and in exchange for their time and effort they receive money. This is money they can use to buy something they want, money they can save, or money they can use for sharing with others.
Like most parents, you probably want your children to learn how to manage money wisely and to have a good attitude toward money and its uses. You probably want your children to enjoy spending their money, but you also may want them to think of the future and save. You may like them to be generous but not extravagant in sharing with their family, friends, and those less fortunate.
Learning about the proper use of money begins at home. Within limits, parents still do more than anyone else to shape the attitudes of their children. Of course, you won't be the only one teaching your children about money. They will be influenced by their friends, by your friends, by their teachers, by television programs and advertisements, and by the attitudes of society as a whole. But we believe you have the best opportunity to teach them in the early years.