Abundant Frugal Life

Finding Deals, Spending Less, Being Content


Raising Financially Fit Kids

Posted by Lisa


I was looking for a financial book that gave me better ideas of how to teach my younger children more than just the “give, save & spend” philosophy you can find everywhere. This book gave me great tips on what to do at each age range. I highly recommend it especially if you have children interested in money.

I’m bent on giving our children an education in personal finance while they’re still home. I hope they make the bulk of their mistakes, and take to heart the lessons my husband and I share with them, before they leave our nest. In all things, not just financial, I hope our children start adult life with more tools than we had.

Here are some of the ideas found in the book.

9-12 year olds:

  • Take calculator shopping
  • Discuss needs vs. wants
  • Introduce utility bills
  • Order annual report of favorite company & research
  • Start a collection of items that increase in value over time
  • Read a biography of an entrepreneur who turned a passion into a business
  • Introduce other savings vehicles besides savings accounts
  • Discuss importance of interest rates over time
  • Work a charity
  • Let them be in charge of their savings account
  • Have them call for competitive prices on an item they are going to buy
  • Discuss impulse buying
  • Discuss the concept “Dreams+money+self control=reality”
  • Learn how to read the stock section


  • Put together a group of financial mentors
  • Mother-daughter investment club
  • Let them open a checking account and be in charge of it
  • Research different careers and how to get paid what you’re worth
  • Discuss insurance policies and their importance (health, life, home, car)
  • Discuss accumulation vs. consumption
  • Research credit cards fully
  • Discuss the concept “money=independence”
  • Have child handle larger and larger shares of spending budget
  • Internships
  • Using skill/talents to earn money
  • Discuss tipping
  • Discuss estate planning (yours and theirs)
  • Teach how to check own credit rating
  • Review child’s budget quarterly
  • Deeper teaching of giving and social responsibility
  1. Joy @ Five J's Said,

    What a great post. Thanks for sharing. My daughter is a natural saver, but my son is a natural spender, and I’m really having to make sure he gets a more financially responsible before too long. I’ll have to try to find that book at our used book store.

  2. Kim@ForeverWherever Said,

    These sound like great homeschooling work for me! Thanks for sharing!

  3. Bonnie Said,

    Thank you! Great ideas and I will have to check out this book!

  4. Edi Said,

    I just checked and our library has the book – so I put it on hold…sounds like it has some great ideas…thanks.

  5. A Frugal Housewife - Jody Said,

    Those are all really good ideas. My neice has been in charge of her own savings account since she was about 7. I have to say she doesn’t like spending her money. :)

  6. Carol @SheLives Said,

    Sounds like a great book. Your summary clued me in that maybe we’re not doing all we should in that area for my ‘tween and teen.

    Thanks for add to my to-read list!

  7. Blue Castle Said,

    When my kids get a dollar – earned or given to them – they immediately want to go to the dollar store. So, yeah, maybe I need this book. I suppose they should learn how to save their money instead of spending it on junk all the time. :)

  8. Jane Anne Said,

    This looks like a great book! My kids are 7,5,3 and 1. Even at their early age, I have decided it is worth being open and honest about what we are doing (and trying to do- paying off debt) with our money. At first my husband wasn’t sure about this approach but now he wishes his parents had been more forth-coming with him as a child. It would have helped him be responsible as an adult. Thanks for passing on the book info!

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