Entering our third year teaching Ben and Kate about money with @familymoneyladder 🎉🙌🏼
2022 – Stipend, moving up and down the ladder, saving up, spending their own money, Roth IRA, introducing concept of investment.
2023 – Start using cash, carrying wallet to stores, start money book recording income and expense, making deposits, learn about entrepreneurship – participate in kids craft show, selling brownies at garage sale, charging family for simple tasks, etc.
The biggest growth I have observed this year in Ben and Kate is the awareness of the value of money.
For example,
• We can get a whole gallon of milk for $2 at Aldi and that’s not enough for a box of milk from Starbucks.
• We can buy crab, sushi rice, cream cheese and cucumber and make so many more of California roll at home versus ordering 2 rolls at a restaurant for the same money.
• Most recently, we can’t leave a store with a pack of gum if we were short one penny! So every cents count!! (I loved this one)
• Starting to ask about how much things cost and we are sharing with them openly the numbers we can as we think it’s important for them to learn young.
For 2024, we are going to continue utilizing @familymoneyladder and will be reading a book “From Piggy Banks to Stocks” by @teach.kids.money then kids will start investing in actual fidelity accounts.
This may seem too much for some but trust me, growing up with minimal financial literacy, I wish I know what I know now 30 years ago, THIS is the BEST gift I could possible give to my children. And you can too.
Teach them young. Get started today.
There are so many great accounts out there to follow and learn about how to teach kids about money. You can simply start by following @familymoneyladder and grow from there. Shannon is resourceful and have been a wonderful blessing to us as we try to build a better financial future for our children 😊
Educate yourself now – better late than never.
AkronMomandKids 
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