10 Quotations for Teaching Kids Money Management with Good Good Piggy (2024)

FAQs

What is the quote about teaching kids about money? ›

“It's not how much money you make, but how much money you keep.” — Robert Kiyosaki. Good Good Piggy promotes the idea of saving and growing money, teaching children to focus on increasing their net worth rather than solely increasing their income.

Money has never made man happy, nor will it, there is nothing in its nature to produce happiness. The more of it one has the more one wants. A man is usually more careful of his money than of his principles. Oliver Wendell Holmes, Jr.

Create a set of chores and weekly payment schedule, and teach your kids that when one week's money has been spent, they'll have to work hard and wait for their next allowance. By earning the money they spend, children learn not only how hard work can lead to fun, but also how to stick to a budget for future purchases.

"Follow the money" is a catchphrase popularized by the 1976 docudrama film All the President's Men, which suggests political corruption can be brought to light by examining money transfers between parties.

Healthy money management habits are essential for avoiding debt and achieving financial freedom as an adult. However, these skills do not come naturally, and they are challenging to get accustomed to, which makes it crucial to teach financial literacy to your kids.

Give them an allowance

An allowance is an effective tool for teaching kids about money management. Instead of handing out money without strings attached, consider linking the allowance to age-appropriate chores or tasks to help them understand the relationship between work, effort, and earning money.

Quote #11:

"Money is only a tool. It will take you wherever you want but it won't replace you as the driver." Money is simply a tool of the trade.

What is a quote about good money habits? ›

“The habit of saving is itself an education; it fosters every virtue, teaches self-denial, cultivates the sense of order, trains to forethought and so broadens the mind.” “It's not how much money you make, but how much money you keep, how hard it works for you and how many generations you keep it for.”

Start with the largest values first and gradually work your way down to the smallest values. How can I practice counting money? Practice skip-counting using the values of common coins and bills. Grab a handful of coins and bills and use skip-counting to determine their total value.

Open a savings account and take your child with you to the bank to make a small deposit every week. Then, show them how to check the balance online. Use the account to teach your children about earning interest or saving for large purchases. Teach your children how checking accounts work.

Teaching kids the basics of money management can help them develop the skills necessary to achieve financial success later in life. From saving and investing to creating and sticking to a budget, early money lessons can give your kids a leg up when it's time for them to make more significant financial decisions.

Sir Claus Moser, said, “Education costs money, but then so does ignorance.” I once saw a similar quote on a bumper sticker, “If you think education is expensive, try ignorance.” Aristotle once said, “Education is the best provision for old age.”

The money you make is a symbol of the value you create. Your worth is not what you have, but who you are. Knowledge is wealth, wisdom is treasure, understanding is riches, and ignorance is poverty.