Teaching kids about money in a world where everything is digital can be tricky, but it’s not impossible. I’ve found that starting with the basics works best. Giving them pocket money in cash helps them physically see and understand what they have. If they want to spend it, I make sure they count it out themselves and see how much they have left after. It’s a simple way to introduce the concept of budgeting.

Another thing I’ve tried is involving them in everyday decisions, like grocery shopping. I’ll give them a small amount and ask them to choose something for the family within that budget. It makes them think about value and priorities.

Use cash. They will see it going down and running out and when they’re old enough you can start to teach them to manage their money.

Get them a money box and go to the bank with them and show them how to save. Let them know things have a cost and the importance of a dollar.