Cart 0

Tips & Tools

Questions about sharing:

Our Top Ten Tips to start the money conversation:

"I want that now, Mom…pleeeeeease."  We’ve all heard this before, so how do we start talking with our children about money?  Teaching good, life-long money skills is one of the most important, yet often the most difficult activities we can do with them.   Moonjar not only gets the conversation started, but provides those teaching tips and the hands-on tools that will help children set goals and build dreams by learning to save, spend and share together. 

1. Get the conversation about money started early and use tools.  Start talking with your 4 and 5 year olds about money concepts.  Keep in mind most children are visual learners, so using hands-on tools like check registers and moneyboxes can better help them learn concepts such as allocating funds and what interest means.

2. Develop a system of allowance and stick with it.  Whether you follow a “learn to earn” format where children earn allowances through performing small chores or a “family as community” format where a stipend is given, keep on a regular schedule and avoid giving advances.

3. Teach your child to save money. Work with your children to establish an ongoing system of saving.   Help them to determine how much to save, setting short and long term goals then discuss where the balance should be spent and shared

4.Set goals and prioritize.  Use pictures to help them visualize their goals and then prioritize what they are saving for, what they want to spend their money on, and with whom or with what they want to share their money.

5. Money is a means, not an end.  Money represents the power and freedom to purchase or give as you see fit.  Discussing the difference between wants and needs with your children, as well as working with them to set goals will help in overcoming the desire for “instant gratification”.

6. Don’t be too critical of the choices children make.  They have different values and mistakes are a fine way to learn.  The important thing is that they save, invest, spend and share with goals in mind. 

7. Encourage young giving or youth philanthropy.  Help your children understand that they are part of a larger world community through discussions about sharing their money and/or donating time to causes of their choosing.

8. Mutual funds are great gifts. Purchase a mutual fund for the child for special occasions such as birthdays or special accomplishments.  Children love receiving mail, so have the statements addressed to the child and review the account values regularly with them. 

9. Continue learning more about money and investing.  Make use of great online resources.  Here are some websites for you and your children: /   /  / / /

10. Be a good role model. Make sure your children see you doing the things that you are teaching them. Let them in on your bill paying, savings and investment plans and charitable giving.