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How to Teach your Kids about Money


How to Teach your Kids about Money

December 21, 2022

How to Teach your Kids about Money

In the world of loss prevention there has always been a lot of conversations concerning counterfeit detection for adults. Companies like Dri Mark offer entire product lines full of detection products aimed towards businesses and individuals protecting their bottom lines from counterfeit and identity fraud. Nevertheless, even with detection products and information easily available, we are still seeing more and more daily examples of fraud being reported in the news. Businesses like gas stations, bars, nightclubs, restaurants, convenience, and liquor stores are all falling victim to counterfeit fraud on multiple levels. Phony cash, credit cards, documents and IDs are running rampant in communities across the United States showing that counterfeit cash, identity fraud, and the dangers that come along with them are not going away anytime soon.

Companies like Dri Mark offer anti-counterfeiting tools and resources aimed towards adults so that they can protect their wallets and ultimately their financial bottom line. But what about our kids? The world is a scary place and there are countless scenarios where kids handle money. Lemonade stands, Girl Scout cookie sales, fundraisers, school sports games and so many other events where your kids are expected to buy or sell goods leave them open to being taken advantage of.

The best way to protect your kids against the world is to arm them with knowledge. Starting as young as preschool age, start having conversations about money with your children. Begin with the basics like teaching them different denominations of cash and how to make change when given a large denomination bill. Financial skills like how to write out a check and balancing a checkbook are easy things to teach and can set your kids up for future success. Once your kids possess a basic understanding of money works, move on to more complex concepts like debit cards and how credit cards work. Practice transactions at home setting up a mock grocery store or bank and take turns being the customer or the cashier.

Need help getting started? Download Dri Mark’s free educational material HERE: