On Monday night I was ready to throw in the towel rather than face another month or more of homeschool for my three, well actually four children (now joined by one adult sibling undergraduate just to spice up lockdown number three or ten whatever we’re up to now!) But by day 7 I’m starting to embrace it all over again……………..sort of. Telling myself that I’m no teacher – as my kids will certainly testify to after a day of nagging, persuading and the odd shouting match…..but I do know how to have fun!
I’m learning so much working for RedSTART, a financial education charity, it’s really opening my eyes to what our children are taught or more importantly NOT taught about money at school. This is where homeschool can really make a difference.
I thought I was pretty good at imparting my own financial skills to my kids, most kids have developed their lifelong attitude to money by the time they are 7 (guess who from? Yep Us!) However working at RedSTART has helped me realise that there are some small things I could change which would help my kids manage their finances in the future much more effectively.
Useful money tips
Rather than me being in control of a bank account in their name, by giving them their own account, some discussions about spending, instant gratification, needs and wants etc. I could help them practice money management. If I set clear boundaries and allow them to develop their skills within the safety net of our family, I could really help my kids on their journey to financial literacy.
When should we start teaching our kids about money?
It’s never too early to start learning the basic concepts and principles around money. RedSTART’s Funsize activities are a great way to start the conversation about Budgeting & Goal Setting, Borrowing & Saving, Risk & Reward and even the slightly more daunting (for me) subject of Compound Interest! The Funsize activities use games which the whole family can play to help children (and adults) learn these financial principles. We used Lego to build towers in the game Built to Last……………my 8-year-old son loves Lego so it was a great motivator to get him hooked!
Give it a go!
When the online learning and relentless maths worksheets are making you turn for that afternoon caffeine fix don’t despair checkout the RedSTART website here up and download the FREE Funsize home school activities. Enjoy 10 minutes of Lego building fun, and help your kids learn the first steps to real world financial skills that will ensure they have a brighter future!