Cows are too big to put in your pocket! Learning the Real Value of Money

Learn the Value of Money

Money originally came into being when people started living in farming communities and started specializing in what they did for a living. They became efficient at what they did and produced enough surplus product to trade with their neighbours. Money was invented because basically cows are too big to put in your pocket to do trade. Money is simply a convenient tool. Money Toolkits would like to give you the tools you need to teach your children about money.

Money can’t cause anyone stress or problems. People who don’t learn how to manage money well create their own money problems and the good news is… anyone can learn to manage money really well once they choose to.

One of the most important life skills children can learn is money management. It is parents who are most able to teach their children how to manage money because they are able to make all of the learning and application of money management skills “real” for children. There is no doubt that home schooling allows parents an excellent opportunity to maximize real learning experiences for children.


The MAGNET Money System provides the opportunity for real learning experiences in money management.

Setting your children up with effective money management skills and values around money is one of the most empowering legacies you can provide for your children. The younger you start them learning about money management the easier it will be for them to develop effective habits.


The Real Value of Values


Family values instilled by parents are very strong motivators for children. It is imperative that how children are taught to manage money is related directly to their family values and also their individual values. The “nuts and bolts” of money management have been available for many years. It is not the “how to” that matters most, but rather the “what’s in it for me?” that needs to be considered before embarking on teaching your children resourceful money skills.

No one actually likes to be told what to do. We are always doing what we do for our reasons – not other people’s reasons. When we are very young we learn by modeling other people – mostly our parents or primary care givers. We admire them and want to be like them or please them. During our very early years, our modeling is done at an unconscious level – we are simply exploring the amazing world we have around us.

As we grow older we become more aware of our environment and start to ask lots of questions to make our own sense of the world. We are all meaning making machines… everything that we witness in our environment; we make up our own meaning for.

The more conscious we make our learning early in life; the more easily we can accelerate achieving what we want in life. Everyone owns their own learning. It happens between our ears. What we have really learnt is evident through our everyday actions and speech. No one can “learn us” …we choose to do it ourselves… or not. So the important questions are “What do I want to learn?” and “What’s in it for me?”


It’s Never About the Money – The MAGNET Money System is designed to teach children the value of money based on wat is important to them.

If parents want children to appreciate the value of money, the first step is to come from their children’s model of the world and what they consider important or valuable. By simply sitting with them and asking the question “What’s important to you?” and giving them lots of time to answer, you can easily discover your child’s values. It is a good idea to ask them again after they say they have told you them all. Many times the things they think of last are really important to them. It is best to give them plenty of time to think and then answer. Children of different ages will give very different answers.



You can also find lots of clues as to what children’s values are by looking at what they put effort into organizing well in their world. What do they put on display in their room? What do they talk about? What do they spend their money on? What do they save their money for? What do they love to spend time doing? What are they surfing for on the net? What are they reading about? Careful observation is a great way to check whether what they say they value is true, or whether they are saying what they think you want to hear.

For a clearer understanding of their values, also ask them what it means to them to be, have or do the things they list. When you ask questions from a position of “know nothing” and listen carefully to their answer you can gain great insight into how your children think and also realize what amazing individuals they truly are.


Values Change – The MAGNET Money System is flexible and allows children to adjust their program as they mature.

Values change over time or after a significant event. Think back to what was important to you before and after getting married or having children. Your children will also change their values following significant milestones in their lives. Revisiting their values following major events in their lives can help children make the transition to the next stage of their lives progress more smoothly.


Working with children to set goals and manage their money and time to work towards achieving what they value is the easiest way to help them develop resourceful money management skills that will serve them well for the rest of their lives.


Parents Who Homeschool Have the Advantage


Parents who homeschool their children are fully aware of the benefits of making learning “real” for their children. The ability to create flexible learning environments that are individualized to children’s needs is the envy of many dedicated teachers working with large class sizes in under resourced classrooms all over the world. The reality is that traditional schools are rarely resourced to the level it would require to offer individualized programs. Congratulations on thinking outside the schooling norm!

Homeschooling provides the best opportunities for making learning real. Parents as learning coaches have the power to create learning experiences that are customized to the needs of each child.

Learning money management skills is never about the money – it is always about what having money managed well can mean for their quality of life. Feeling empowered to manage their own money from a young age allows people to feel empowered to achieve in many other areas of life.