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5 easy ways to talk to kids about money

Document Cited in Related
Vincent
Published date29 June 2022
Publication titleHuddersfield Daily Examiner
If you are unsure how to broach the subject, here are five easy ways to talk to kids about money in the current financial climate

¦ Talk about it: "If you are out and about with young children, talk to them about what you are buying and give them the opportunity to pay for items themselves," says Ross Duncton, managing director, head of marketing and direct at BMO (bmogam.com). "This way children will learn that once the money is gone, it's gone."

¦ Play shop: "Set up a play shop using items around the home and talk about how much the items cost. This is a great way to help children see the importance of essential items and treats, and even teach them how to budget and get the best value for their money."

BMO's Ross Duncton ¦ Set up a play bank: "Set a timer and challenge children to do a simple task in exchange for some play money. You can give them the option of spending this at the pretend shop...

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