When should parents introduce the concept of money?

    Published: 06-16-2009
    Views: 21,376
    Parenting educator Dr. Rene Hackney talks about when 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: When should parents introduce the concept of money?

    Rene Hackney: It's suggested that the concept of money be introduced to children as young as three years old. There are lots of easy ways to do this, When children are young, you just include them in the money things, you are doing. So, when you pay for groceries at the grocery store, show them how much money you are giving. Show them how much money you are getting back. Teach them to start counting change. You can talk to them about what the difference from a penny to a nickel, to a dime is and start having them, make a certain amount of money out that change as they get that concept. It's suggested that you start teaching them as early as three to five years old, so that they can start to learn about money and learn to manage money as they grow.