How should parents introduce money to preschoolers?

    Published: 06-16-2009
    Views: 12,122
    Parenting educator Dr. Rene Hackney talks about how parents should introduce the concept of money to their children.

    Rene Hackney

    Originally a full-time preschool teacher, Dr. Rene Hackney now holds a Master?s in school psychology and a PhD. in developmental psychology from George Mason University. She trained at the Developmental Clinic at Children?s National Medical Center and for the public schools, teaching in parenting programs at each. She has also acted as a consultant to several area preschools.

    For the last four years, Dr. Hackney has owned and lectured for Parenting Playgroups, Inc, a parenting resource center and preschool classroom in Alexandria Virginia. She has offered workshops to a wide

    range of parent, teacher and social work groups during this time.

    Workshop topics include eight hours on positive discipline techniques, five hours on early academic issues and common issues such as sibling rivalry and potty training. All workshops provide well researched lecture, in-class practice and open discussion time. Additionally she hosts a monthly parenting focused book club and fun play programs to introduce the preschool setting to young families.

    Dr. Hackney is married and has two young children of her own.

    Host: How should parents introduce money to preschoolers?

    Rene Hackney: Part of it is, is building in the money throughout the day, another way is to build some chores that they can earn some allowance, for it. To really teach kids about money, they have to able to have some money. There are some, who suggest that you should just give children money, that it shouldn't be tied to chores, but the idea of that it looses half the lesson, children who are just given money don't know the relative value of money. Then when they go to buy something at the store, they know maybe they have to wait a little longer for it, but they didn't have to make their bed a certain number of days more. There wasn't any work put into earning that money, so it looses its relative value. So, the idea is even as young as three years old give them some chores that they are responsible for, that are tied to an allowance.