While I have been compensated for this post the opinions are entirely my own.
Our son has been watching us become debt free over the last year, and we were really excited for him to use the Kids Wealth program. It’s very important to us that our son knows how to manage money as he gets older, so we invested in the Kids Wealth Money Kit for him. This program comes with so many amazing components, and he’s totally motivated to learn right now. While I can’t say that he has had to give up many things that are important to him, he has seen us give up our vehicle, spend less on extra fun activities, and work extra hard on our Young Living business.
I started out by reading through the Kids Wealth Parent’s Guide, which describes how we would pay our child a monthly income called Kid’s Pay. Then we made a big deal about the Kid’s Pay Agreement where we agreed to give him so much money and he agreed to manage that money over various categories. We also filled in the calendar and set up his pay dates. This was fun for him to see when he would get paid just like we have pay periods for our work. Next it was time to jump into the workbook!
We try to keep this light and fun so that he doesn’t view it as more “homework.” So, we don’t spend too much time on the lessons each day, but try to do them every weekday. It really helps if you motivate them at first by taking them to open their own bank account. We opened a “kiddie” account with our son so that when he hit his first payday, he was able to go with us and place his money into his very own savings account. This was a lot of fun for him, and motivated him to continue with the Kids Wealth Money Kit lessons.
Please note that I ordered the kit that was appropriate for ages 10-12, and it is very important that your child understands percentages to be able to complete this level workbook. Obviously, they will have to be able to understand money and coins, and they will need to be able to add and subtract money with dollar signs.
Watching him learn about his own investments and money makes it worth the time I’m investing in teaching him about money! I know I won’t ever regret teaching my children to become financially fit, and we are obviously trying to lead by example by staying debt free!
Watch this video about Kids Wealth!
Leave a Reply