Raising Money Savvy Kids

Money Savvy kids begin to form their lifelong money habits as early as preschool. Behavioral researchers from Cambridge University encourage parents to start teaching their kids about money as young as 3. In other words, children can become exposed to the concept of money when they’re fairly young! At Amida Wealth we encourage open and honest conversation about money. Wealth is a mindset, and the more exposed children become to the concept of money, the more confident they will feel managing finances in their later years. Money is energy, and our children deserve to feel ultimate abundance in this life!

Savvy Allocating versus Budgeting

At Amida Wealth we replace the word budget with allocate. This is because the word budget implies that we can’t do something. It signifies lack rather than expansion. The concept of budget starts at a young age–for example, when a child wants something for Christmas and a family member implies that it is not in the “budget”. Instead, let’s transform the lack into intention and empowerment! This is done by shifting the word budget into the word allocate. The word itself gives us power and puts us in control! At Amida Wealth we encourage you to think about overarching allocation of wealth in a holistic manner across all our assets. Sometimes we need to take a step back to see the bigger picture (like a beautiful painting). Money, or rather our investments and life assets are no different. Allocation works at any level regardless of the size of the investment. In other words, kids are capable of capturing this concept in simple ways. Empower your children by incorporating the word allocate into their youthful vocabulary!

Thought Provoking Holiday Activities For Money Savvy Kids

Holiday shopping is right around the corner. A fun activity to do with children in preparation for the holiday season is to first, create a to-do list of all the items they want to gift for others. What they want to give and price. Secondly, create a list of chores around the house that have value. Thirdly, once the list is finished and “inspected” put money into an envelope to set aside for the gifts. In other words, through this experience children learn the value of exchange. They discover how to create value over something someone else wanted and learn the value of money.

Meaningful Gift Giving For Money Savvy Kids

Teach children to think outside of the gift box! Encourage them to create a habit of meaningful gift giving. In other words, rather than purchasing unnecessary items, kids will learn the value of intention behind their purchases. First, you can plan for a tree decorating party. Set up time for the kids to gather and create their own ornaments for the tree and each other. Perhaps they will create a list for all the people they would like to create tree ornaments for. Encourage creativity, and holiday spirit! Secondly, you can coordinate a cooking-making with friends where everyone brings separate ingredients. In other words, kids learn the value of working together and sharing! Thirdly, you can create a Thanksgiving brunch or holiday brunch with friends – encouraging everyone to bring a delicious dish. Rather than gift giving, you encourage community and Love. Through these actions, you show children the value of sharing, collaboration, and spending quality time together. Gift giving comes in all shapes and forms!

Charitable Gift Giving

We must try to live a balanced life. Work, play, family and health are important aspects of our daily lives and striking a balance between them creates well-being. Giving back is a natural part of this process. It allows us to be socially responsible and in turn we all benefit. At Amida Wealth, helping the local and global community gives our team a sense of purpose. In order to raise money savvy kids, we must encourage children at a young age to become excited about acts of kindness. Some examples of charitable gift giving include; first, gifting the tree of life, literally buying a tree on behalf of someone. At Amida Wealth we have a page people can contribute $1 per tree planted. Secondly, volunteering somewhere to help those in need during the holidays. Perhaps its as simple as helping to wrap gifts. thirdly, donating old books and toys for children in need for the holidays. Use this link to discover local charities near you. Through these experiences, children will subconsciously discover the abundant blessings in their lives, and how incredible it feels to share their belongings with others.

Amida Wealth Family Conversations

At your next family and friends gathering, perhaps over the holidays, encourage the topic of money savvy kids. Embrace the topic of finances. Ask questions like, when do you start to learn about money? Who taught you about money? When did you learn about money? Oftentimes, familial patterns get passed down. Encourage the topic of money savvy kids, and why you find it important to expose kids at a young age. In other ways, share your wealth mindset with those that you love. Perhaps start a discussion about applications used for finances such as Venmo and PayPal when the kids are around. They are the future!

Final Thoughts

In conclusion, wealth is a mindset. At Amida Wealth we encourage you to become expansive, and open to all of the financial abundance in your life. Money is not something to shy away from, but rather embrace and experience! In other words, in-order to raise money savvy children it is important that we start small and think big. The more exposed to, that young children are, money the more comfortable they become. We are here to support you and your family through your abundance. We are just one phone call and email away.