If you haven’t seen the viral TikTok video of kids choosing between Oreos and money, you’re missing out on some prime internet content. Spoiler alert: most kids chose the Oreos. What does this tell us? Kids love immediate excitement and have no clue how much things cost. This brings us to today’s topic: the importance of teaching kids about money and why it’s our duty as parents to make sure they get it.
The Viral TikTok Video
Let’s talk about this video. Kids were given a choice: a stack of Oreos or cold hard cash. Unsurprisingly, the majority went for the Oreos. I mean, who needs money when you can have sugary goodness right now? This reaction is both adorable and alarming, highlighting a serious gap in financial understanding among children.
The Importance of Early Financial Education
So why should we bother teaching kids about money? Simple. Financial literacy isn’t something that magically appears when you turn 18. It’s a skill developed over time, starting from a young age. Teaching kids about money helps them understand its value, the importance of saving, and the joy of delayed gratification. Plus, it sets them up for future financial success, avoiding the dreaded “Why did no one teach me this?” moment later in life.
Personal Experience: Teaching My Son About Money
Let’s dive into my own little experiment. I tried the Oreo vs. money challenge with my son. Did my son make the right choice? Thankfully, yes. Did he also bring up a new Lego set and more Pokemon cards? Also yes. Moral of the story: He wanted Oreos right then and there but knew he could go to the store and buy a lot of packs of Oreos with that $100 bill instead. Talking about the value of money in your house goes a long way.
Lessons for Parents
As parents, we have the unique (and slightly terrifying) responsibility of equipping our kids with financial knowledge. It’s not just about handing them an allowance and hoping for the best. We need to actively engage them in discussions about money, savings, and smart spending. Trust me, your future self will thank you when they’re not calling you from college asking how to write a check.
Practical Ways to Teach Kids About Money
Here’s the good news: teaching kids about money doesn’t have to be a chore. Use everyday situations to introduce financial concepts. Take them grocery shopping and let them handle the budget. Give them an allowance and encourage them to save for something they want. Here are some age-appropriate ideas:
- Young children: Basics of saving and spending. Maybe even set up a mini “store” at home where they can “buy” and “sell” items.
- Older children: Budgeting, interest, and investments. There are also great games and apps designed to teach financial literacy.
- Create a savings jar or even open a bank account for them. The hands-on experience is invaluable.
Long-term Benefits
Now, let’s talk about the long-term benefits. Financial education leads to better money management skills, increased financial independence, and a lower likelihood of debt problems in adulthood. Plus, it’s incredibly satisfying to see your child make smart financial decisions and avoid the pitfalls that so many adults face.
