The Tutoring Center, Roseville CA 

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01/20/2015
Learning how to handle money is a very important lesson children should learn from an early age. Here at The Tutoring Center in Roseville, CA, we teach adding, subtracting, dividing whole numbers and percentages that are at the core of learning about money management. Here are a few tips to help your child with mathematical comprehension and, at the same time, making a living.

Learning Patience (Delayed Gratification)

When you walk into a department store with a 4-year-old, what’s the first thing they say? “Mommy, I want…” Children need to learn that you don’t have a money tree in the backyard. Instead of buying that Princess Sofia Castle or Olaf Snow Cone Maker, buy your child a piggy bank. Show your child the price tag on the item of their desire and tell them they must wait until they have saved that amount to buy the item themselves. Never say the words, “We can’t afford it.” This only sends the message that you are not in control of your own money.

An Allowance

Initiate a weekly allowance. How much depends upon your financial circumstances, but a good rule to go by is, give half your child's age; for example, $2.50 for a 5-year-old, $3.00 for a 6-year-old, $4.00 for an 8-year-old, $4.50 for a 9-year-old, and so on. An allowance should not be based upon meeting his routine expectations such as feeding the dog, making his bed, or unloading the dishwasher. It is important to teach your child that doing chores is expected from everyone in the family. Negotiating separate transactions such as raking the leaves, washing the car, or cleaning the garage will allow your child to earn extra money.

Save, Spend, Budget

Having your child count their money and separate it into two categories; money to save for the big item and money to spend now teaches them budgeting. 
If your child needs extra help in comprehending the mathematics that go with money management, call The Tutoring Center in Roseville for an assessment. Phone: 916-771-4100 or E-mail RosevilleCA@TutoringCenter.com.

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