Kids Are Not Learning Money Matters…and this is a problem.
As a father of two young children, I was shocked at the lack of tools on the market today that help form healthy money habits for kids.
Wildly creative approaches have been created to teach kids the importance of reading, mathematics, science, history, music, art, and even speaking new languages. While a number of “financial literacy” products on the market do exist, my family and I have found them overly academic, too focused around banking, and really lacking in the most important factor of all – fun. This begs the question, why has there has NOT been a truly dynamic program effectively sparking the concepts of money habits?
Understanding money matters should be a core skill for all children as they grow into adulthood, especially now as American households plummet into debt, burdened by high interest credit cards and student loans. Furthermore, more research shows that children should start learning the fundamentals before age 7, as money habits are fully formed by then, illustrating that much of what you learn and absorb when you are young, affects the choices you make throughout the rest of your life
Much like learning language, the process of money habits should start at home, and be reinforced via repetition and consistent decision making. These early learning phases are optimal for teaching concepts such as self-control, delayed gratification and planning; while habits, norms, and personal values are also developing.
So over many coffee meetings at our favorite cafe my good friend and fellow entrepreneur Sam and I decided to embark on a new venture, The RockaDoos.
The RockaDoos Have These 7 Simple Goals:
+ Arouse curiosity in kids around money matters – and choices one can make
+ Recognize money is earned through work and grown through savings and investments
+ Show it can be “fun” to delay immediate spending urges by focusing on bigger goals
+ Spark conversations with parents tied to saving, spending, giving, and investing
+ Encourage healthy questioning or even skepticism before making a purchase
+ Money comes in various forms – cash, cards, online, etc.
+ Values – identifying and supporting what we value with money
The purpose of this blog is to share actionable steps parents can take now with their kids to talk about the last “taboo” subject, money…while introducing the fun loving “kindie rock” band The RockaDoos.
Our goal? To enable parents to share concepts of financial well-being with their children to promote overall happiness. We invite you to sign up for our newsletter for more healthy money habits tips as well as product updates as this endeavor builds momentum.