Listed below are some ideas to get you started. You can start discussing money when your children are still quite little, even as young as three years old. The best time to teach a child anything is when he or she expresses an interest. So when a child begins asking you to buy candy or toys, be prepared to begin a discussion about money. Start by demonstrating that money is used as a trading tool.
People trade money for items of value or for services.
Show your child how money works by allowing the child to make his or her own purchase. Give the child the required amount of money for a toy. Let the child hand the money to the cashier, and after you've left the store, talk about how the money bought the item. Approach money lessons with openness and honesty. Give children clear and consistent information about money.