ParentingHub

While it may seem you have more pressing priorities than teaching your child to be a smart spender and saver, keep in mind that the consumer culture is working on your child already. "Kids are constantly being bombarded with messages to spend money, and we need to counteract that," says Sam Renick, financial consultant and children's author. "The earlier kids start developing good money habits, the better." The good news? Teaching your child how to handle money is simpler – and more fun – than it sounds. Here are seven tricks to turn money lessons from a fight into a delight:

1. Hand your preschooler a note.
Exposing children to money sets the groundwork for financial literacy in the same way that reading out loud to them sets the groundwork for literacy. In the preschool years, some hands-on experience is enough. Preschoolers learn best when they can actually hold what they're learning about. So get over any germophobia around coins and notes and let your 3-year-old hand them to the cashier. Let your 4-year-old help you drop spare change into a savings jar. Pretend games like "shop, shop" or "bank" are also a fun way for preschoolers to grasp that money buys things..

2. Dispose of "disposable thinking."
From broken toys to outdated TVs, almost everything gets tossed in our culture. By teaching your child the value of things, you set a cornerstone of financial literacy. "Kids can learn that possessions deserve our care. If your child throws a book, explain that throwing books can damage them, and that treating them gently helps them last a long time," says elementary teacher Laura Gerrity. If something does break and your child cavalierly says, "It's okay, we can just get another one," take advantage of the teachable moment. Gently explain that replacing it would cost money, and that you'll need to decide whether spending that money is a good idea. This may lead into an interesting discussion of all the other things that cost money, such as food, rent, and petrol.

3. Encourage delayed gratification.
"I want it now!" How many times have you heard that – this week? Kids by nature want immediate gratification, but learning to wait is vital. "The ability to hold off, to not have to have something right away, is a building block for when kids eventually do understand money," says Jerlean Daniel, deputy executive director of the National Association for the Education of Young Children. Learning to wait can be taught even to kids who aren't using money yet. If your child requests a glass of milk while you're sweeping the floor, don't immediately put the broom aside. Explain that you'll get it when you finish. If she requests yet another princess outfit (even though she already has several), suggest that she put it on her birthday "wish list."

4. Table the taboo.
Some feel it's inappropriate to discuss money with children, but experts say kids benefit from being in on the discussion. Otherwise, they may develop misperceptions like thinking that a debit card never runs out of money or that if you break something, hey, you just go get another one. "You don't have to be afraid to share money concepts with your kids – even if you're having financial challenges," says Lechter. "Think of it as a chance for the whole family to learn new skills together."

5. Be a role model.
What you do will have a much greater effect on your kids than what you say. If you want your child to learn to save, make sure you're saving some money yourself – and that your child knows you do it. If you want her to learn the value of generosity, consider: Are you donating to charity or volunteering your time for a cause?Involve your child in these activities, too.

6. Let them practice.
Learning good money management takes practice. So invest in a little play money (or make some!) for your preschooler so that she can play "store" with you, and consider giving your big kid pocket money. Piggy banks are a good idea, even for kids who don't have an allowance yet. Your 5-year-old may surprise you by finding a "lucky cent" and immediately drop it into her bank. Even if she doesn't understand the concept of saving for a goal, she's practicing saving – and that's a great start.

7. Skip the lecture – tell a story instead.
Give a lecture on responsible spending, and you'll get a glassy-eyed stare. But tell a story about a boy who must decide between buying lunch and buying a new action figure, and you'll likely get rapt attention. "When I use stories and music to break down the concepts, the kids really get it," says Renick.