by Amanda van der Gulik
Have you ever wondered where your child really believes money comes from?
I was curious to really take a deep look inside the minds of kids and teens to find out where exactly they truly believe money comes from. Nowadays we use plastic so often that kids are never even exposed to the good old fashions paper and coins that we were as children.
How many kids do you know who truly understand how many pennies go into a dollar, even more, how many of those kids honestly believe that money is a free gift?
They see us taking money out of walls. They watch us swipe a magic card at the store that allows us to walk away with new stuff. They rarely ever get to see us working hard to earn that money. They rarely get that chance to understand the connection of going to work and paying the bills.
Money is free. Money is there for the taking. Mom and dad are magic money machines.
Well, I wanted to see what they were really thinking so I interviewed some kids and teens in both Canada and New Zealand to find out. To take a deeper look into their minds on how they truly feel, what their root money beliefs are.
This is what I found: (be prepared to get a sore gut, some of these answers are incredibly funny...but so sad at the same time. Watch and listen carefully to them all, I'll go over each one with you below:
So here you can see we have a sweet boy who's father gives him 'pocket money', which I'm sure he gives him to help his son learn about money. However, as you can hear, his little boy is under the impression that dad simply buys his money from the 'Money Shop'. I wonder if dad gets a good deal and how much money costs nowadays! ;)
In this case, dad may want to take his son to watch how he actually does earn money. Maybe he really does buy money, by trading stocks and bonds or futures. If so, that's great. He could show his son how he does his research on certain companies before investing 'buying' in those companies. If not, then dad probably earns his money some other way and this sweet little boy hasn't got a clue where money really comes from, that money is for sale and easy to come by.
Child 2 - "Adults Get Their Money From The Bank...Kids Get Their Money From Adults"
Here you have a sweet little girl who understands that mommy and daddy can get money from the bank, but she may be under the impression that the banks simply give mommy and daddy money for no particular reason other than that they have money to share. She is under the impression that if kids want money they get it through their parents, or 'adults'. Which in most cases is the case, however it would be wonderful to learn that kids actually have the ability to earn their own money through their own ventures and efforts. This is another case where spending some time learning how mommy and daddy earn their money would be a great investment of education.
Child 3 - "Go To the Money Machine"
As you can see, this girl is a little older, so it is very sad to think that she honestly believes that in order to get money you simply 'go to the money machine'! I wish it were that easy! Don't you?
Child 4 - "Piggy Banks"
For this cute little girl money magically appears from her 'Piggy Banks'. She has no concept, idea, that money actually needs to be earned. She simply has money, it's in her piggy banks and when she wants some it's there to collect. Now wouldn't that be wonderful? ;)
Child 5 - "Some Adults Gamble"
Now this teenage girl at least has an inkling of an idea of how money works. After her joke about how some adults simply gamble to make money, and clearly letting us know that her parents do not do that, she explains how her parents go to work, then go to the bank and pay her and her siblings.
She's on the right track, she understands that her dad has to go to work first to get money but I'm still worried to hear how in order to get that money the bank still plays an important role. It would be wonderful for her to learn that yes banks have their place but that you do not need a bank to get or earn money. But at least we see a glimmer of hope with this one! ;)
Child 6 - "I Don't Know"
This little girl at least has an open, honest mind letting us know that she doesn't actually know how adults get their money, but at least she's not trying to come up with an imagined way. There is hope for this girl (she just happens to be my daughter, so I might be biased, just sayin...) ;)
Child 7 - "They Get It From The Bank"
Again, here is another example of how most of our kids today think, that money simply comes from the bank. Very sad in deed. :(
Child 8 - "People Just Give Me Money...Money Comes Out Of The Wall...Chocolate Money!"
This little boy, at least has an understanding that in order for people to give them money, something must be given in return, i.e. a lemonade stand. He's a bit of a comedian so when he's asked if money just comes out of a wall, he responds with, "yeah! Chocolate Money!" Very cute! (again, this is my son, so I'm a little biased here too) ;)
I hope this video made you smile, but also made you really think about what is the message that you are giving to your own child. How does your child think that you get your money? Do they think that you get it from the bank or out of a wall? Or do they realize that you have to work hard for your money?
Have some fun. Ask your child what they really think and see if they might need a lesson or two on how you actually make your money. A little financial education can go a long way and be the make or break it point for your child's financial future!
Here’s to your child’s success and financial education!
Cheers…Amanda van der Gulik…Excited Life Enthusiast! ;o)
Best-selling author, Amanda van der Gulik, has been homeschooling her own two children for over 11 years. She loves to share her own experiences to help other families and is the founder of www.TeachingChildrenAboutMoney.com. Visit Amanda’s site today to grab your FREE copy of one of her amazing money tools for kids and teens, like her eBook, “Goal Setting for Families” workbook or her “50 Money Making Ideas for Kids and Teens” eBook to help your child find some fun ways to make their own dreams come true!