Handling Money and Making Change: Building Financial Independence in Children
Last Sunday, my 8-year-old wanted to buy a small toy at the store. Instead of immediately handing over my credit card, I remembered our family’s commitment to the Life-Ready approach. I gave her some cash and asked, “Can you pay for this and make sure you get the right change?” She carefully counted out the bills, handed them to the cashier, and then counted her change back. The look of concentration and then pride on her face told me we had a perfect opportunity to practice financial skills in a low-stakes environment. ...