| Parenting Your Way |
Children and Finances - An Apple a Day
by Maura Steblay, MA ed.
by Maura Steblay, MA ed.
A crisp, red, autumn apple tastes like nothing else. Carefully chosen, gently washed, and eaten in your favorite manner, an apple can be
the perfect snack. Is it a wonder Snow White was drawn in by the witch with a flawless, red apple? As a parent, I apply the same
techniques to teaching money management as I do to apple eating: portions, rituals, and frequency.
Some people like the skin portion of an apple best, and others the fleshy interior. In the case of money management, understanding
portions can lead to financial prowess for the concrete minds of young children. Children understand tangible concepts much faster than
abstract theories. Money is tangible, substantive, and measurable. Coins and paper bills are physical and much easier to grasp,
philosophically and literally, than an automatic teller machine. Other tangible teaching aids are deposit slips and receipts which show
measurable results and prove you are in control of what is happening to your money. A visit to the grocery store to touch and see
variations of apples will teach more about the fruit, to kids, than most books. Likewise, a visit to a bank will give children a distinct model
of money and its variations. Take what is known about kids into account. Kids learn by playing. Robert T. Kiyosaki, author of Rich Kid,
Smart Kid, explains the three simple steps to learning about money, for children: simple drawings, play, and real life.
Compare that to the apple example. First a child sees a drawing of an apple. Next they get a chance to play with an artificial apple in a
make-believe kitchen. Finally, you are perusing the grocery store and your child yells, “Apple!” Familiarity with the fruit before their first
experience with a real apple is called priming. Prime your child’s learning about money. Kiyosaki says, “Games help your child see the
future.” Suze Orman, finance expert concurs with Kiyosaki. She recommends we truly teach our children about money and not declare,
“Because I say so” which is disrespectful. Guidelines are good but clear expectations and reasoning are great tools for raising financially
responsible kids.
Nearly every small child has heard the story of a secret treasure. Teach your children about your family treasures and abundance whether
the riches are monetary, physical assets, or natural born gifts. Help them gain an appreciation for the effort required to care for your
precious treasures. Portioning is also about choice. Kids can see the benefit of being able to choose an apple piece rather than having to
take the one they are given. Similarly, they can choose to save or spend various portions of their allowance or gift monies. Kiyosaki
unveils his three piggy bank theory - one for tithing, one for saving, and one for investing.
Taking advantage of rituals is another method of educating children about money management. Rituals are routines infused with meaning,
and can turn sharing an apple with Grandpa, into something special. Ritualistic tendencies are predictable, habit forming, and meaningful.
Have you ever watched someone peel the entire apple skin off in one- large piece? Try and infuse the same aura into fiscal preparedness.
Author, researcher and professor, Dr. David Walsh from the University of Minnesota asserts that children learn by observation and
imitation. “Children do as you do not as you say.” Share the monthly updating of savings accounts with your children and show them
how one seed can grow into something larger. Washing an apple before eating it is time consuming, but this ritual is necessary and
worthwhile. Reflect on your family financial practices and take note of which traditions are necessary and worthwhile. “Money is a
teaching tool,” according to Kiyosaki.
“An apple a day,” is an often heard cliché relative to the recommended frequency of apple consumption. What do we know about
regularity of saving money? It is never the right time to start saving money; it is always the right time to save money. Saving money may
seem about as exciting as eating an apple a day, unless we can attach more significance to it. Discuss the responsibilities that go along
with money and the spending of it. Foster meaningful conversations that include savings strategies, expense management, and family
values. Decide for yourself what matters most and then pass it on to your little sprouts.
Regarding frequency, parents need to share the benefits of automatic saving skills. By waiting until there is a surplus, people may never
begin to save. Pay yourself first is the mantra disciplined savers practice. Few of us hope to raise a Scrooge-like child. Therefore, we
must regularly practice and role model behaviors, like donating to charity, if we hope to see them exhibited by our offspring. Enacting
your family values through regular deposits in a savings account and scheduled donations to charity will prove commitment to your
children and will be a concrete demonstration of the importance of frequency. Remember, goals start behaviors, consequences maintain
behaviors. If your behaviors do not reflect your beliefs, than your beliefs are of no value.
Parents are the cultivators of their children’s’ lives. Building an understanding of the field of money management should be an integral part
of our job description. I remember taking a survey when my husband and I were engaged to be married. At the time the pastor told us
financial woes were the number one cause of divorce; the same is true today. Sharing a mutual goal and understand for fiscal matters has
assisted us in our quest for a well-rounded, healthy approach to sharing financial acumen with our own daughters.
Perhaps the old adage should be updated to say; an apple a day keeps the debt collector away. Like choosing an apple, a simple and low-
tech approach, may be the core strategy you need to sow the seeds of financial know-how with your children.
Maura Steblay has a Masters degree in Education and is the president of Parenting Unlimited. She is mother to two daughters ages 10
and 13. She has worked in both corporate America and in Early Childhood Family Education. She is a volunteer at Children's Hospital
answering the Parent Warmline, is a board member on the Foundation for Eden Prairie Schools and the West Suburban Teen Clinic.
the perfect snack. Is it a wonder Snow White was drawn in by the witch with a flawless, red apple? As a parent, I apply the same
techniques to teaching money management as I do to apple eating: portions, rituals, and frequency.
Some people like the skin portion of an apple best, and others the fleshy interior. In the case of money management, understanding
portions can lead to financial prowess for the concrete minds of young children. Children understand tangible concepts much faster than
abstract theories. Money is tangible, substantive, and measurable. Coins and paper bills are physical and much easier to grasp,
philosophically and literally, than an automatic teller machine. Other tangible teaching aids are deposit slips and receipts which show
measurable results and prove you are in control of what is happening to your money. A visit to the grocery store to touch and see
variations of apples will teach more about the fruit, to kids, than most books. Likewise, a visit to a bank will give children a distinct model
of money and its variations. Take what is known about kids into account. Kids learn by playing. Robert T. Kiyosaki, author of Rich Kid,
Smart Kid, explains the three simple steps to learning about money, for children: simple drawings, play, and real life.
Compare that to the apple example. First a child sees a drawing of an apple. Next they get a chance to play with an artificial apple in a
make-believe kitchen. Finally, you are perusing the grocery store and your child yells, “Apple!” Familiarity with the fruit before their first
experience with a real apple is called priming. Prime your child’s learning about money. Kiyosaki says, “Games help your child see the
future.” Suze Orman, finance expert concurs with Kiyosaki. She recommends we truly teach our children about money and not declare,
“Because I say so” which is disrespectful. Guidelines are good but clear expectations and reasoning are great tools for raising financially
responsible kids.
Nearly every small child has heard the story of a secret treasure. Teach your children about your family treasures and abundance whether
the riches are monetary, physical assets, or natural born gifts. Help them gain an appreciation for the effort required to care for your
precious treasures. Portioning is also about choice. Kids can see the benefit of being able to choose an apple piece rather than having to
take the one they are given. Similarly, they can choose to save or spend various portions of their allowance or gift monies. Kiyosaki
unveils his three piggy bank theory - one for tithing, one for saving, and one for investing.
Taking advantage of rituals is another method of educating children about money management. Rituals are routines infused with meaning,
and can turn sharing an apple with Grandpa, into something special. Ritualistic tendencies are predictable, habit forming, and meaningful.
Have you ever watched someone peel the entire apple skin off in one- large piece? Try and infuse the same aura into fiscal preparedness.
Author, researcher and professor, Dr. David Walsh from the University of Minnesota asserts that children learn by observation and
imitation. “Children do as you do not as you say.” Share the monthly updating of savings accounts with your children and show them
how one seed can grow into something larger. Washing an apple before eating it is time consuming, but this ritual is necessary and
worthwhile. Reflect on your family financial practices and take note of which traditions are necessary and worthwhile. “Money is a
teaching tool,” according to Kiyosaki.
“An apple a day,” is an often heard cliché relative to the recommended frequency of apple consumption. What do we know about
regularity of saving money? It is never the right time to start saving money; it is always the right time to save money. Saving money may
seem about as exciting as eating an apple a day, unless we can attach more significance to it. Discuss the responsibilities that go along
with money and the spending of it. Foster meaningful conversations that include savings strategies, expense management, and family
values. Decide for yourself what matters most and then pass it on to your little sprouts.
Regarding frequency, parents need to share the benefits of automatic saving skills. By waiting until there is a surplus, people may never
begin to save. Pay yourself first is the mantra disciplined savers practice. Few of us hope to raise a Scrooge-like child. Therefore, we
must regularly practice and role model behaviors, like donating to charity, if we hope to see them exhibited by our offspring. Enacting
your family values through regular deposits in a savings account and scheduled donations to charity will prove commitment to your
children and will be a concrete demonstration of the importance of frequency. Remember, goals start behaviors, consequences maintain
behaviors. If your behaviors do not reflect your beliefs, than your beliefs are of no value.
Parents are the cultivators of their children’s’ lives. Building an understanding of the field of money management should be an integral part
of our job description. I remember taking a survey when my husband and I were engaged to be married. At the time the pastor told us
financial woes were the number one cause of divorce; the same is true today. Sharing a mutual goal and understand for fiscal matters has
assisted us in our quest for a well-rounded, healthy approach to sharing financial acumen with our own daughters.
Perhaps the old adage should be updated to say; an apple a day keeps the debt collector away. Like choosing an apple, a simple and low-
tech approach, may be the core strategy you need to sow the seeds of financial know-how with your children.
Maura Steblay has a Masters degree in Education and is the president of Parenting Unlimited. She is mother to two daughters ages 10
and 13. She has worked in both corporate America and in Early Childhood Family Education. She is a volunteer at Children's Hospital
answering the Parent Warmline, is a board member on the Foundation for Eden Prairie Schools and the West Suburban Teen Clinic.
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