Tampa, FL -- (SBWIRE) -- 04/01/2015 -- Talking to preschoolers about money may seem strange to most parents. But a recent article by MamaBear, The Ultimate Parenting App™ reminds parents that kids, even young kids, need to start learning about money early in their lives.
In a new blog post titled "Table Talk: Are You Doing Your Child's Allowance All Wrong," MamaBear explains that preschool might be a good time to start talking to your kids about money.
"It may feel too early to talk to a five-year-old about money. But research shows that preschoolers already are learning the difference between wants and needs," said MamaBear CEO Suzanne Horton. "It is in your kids' best interest to start to teach them about how to spend their money appropriately, even at that young age."
The MamaBear article discusses how parents can teach their children about money management by setting up a fair and appropriate allowance program.
"Kids learn through practice so giving them allowance, money that they can choose how to spend, helps them understand money management," Horton continued. "But allowances should be strategic. Parents need an allowance plan in order for the lessons to stick."
The article lists mistakes that parents often make while setting up allowances and goes on to offer a formula for parents trying to decide on how much money to give. It also includes tips on how to explain money management in a simple and concise way that kids will understand.
"It's good for kids to see all sides of money management," Horton said. "We want them to know they can spend as well as save and give."
MamaBear hopes the article will spark conversations around the dinner table and give parents ideas on how to set their kids up for future success.
"A good allowance plan can benefit a child throughout their entire life. Learning money management when you're young lays down a pattern of responsibility. It will help create more financially responsible and successful young adults," said Horton.
For more tips on how to set up a productive and effective allowance plans for kids, read the whole article on the http://mamabearapp.com/table-talk-topic-are-you-doing-your-childs-allowance-all-wrong/
MamaBear is the leading-edge, mobile, all-in-one parenting app that creates a private family communication hub providing parents with an efficient way to protect, communicate, locate and organize their family children and have peace of mind in this complex social and digital media age. The app is available on iTunes and Google Play.
MamaBear provides parents with a powerful and convenient safety and awareness tool that offers a unique set of social media monitoring features, family mapping, alerts and reputation management tools, as well as alerts to cyber threats toward their children. Moreover it offers a private place for families to communicate and stay abreast of family activities such as kids' team sports.
The company has been recognized by CNBC as one of the "World's Most Promising New Companies" and by the Kauffman Institute as one of "The 50 Promising New Startups." MamaBear was recently chosen from 600 startups that exhibited at Silicon Alley by TechCrunch as one of a handful given the honor to exhibit in TechCrunch's Startup Alley Highlights at this year's 2015 Crunchies Awards in San Francisco. MamaBear's core values are to protect children, honor families, encourage trust, and respect privacy.
The MamaBear team regularly blogs about a variety of issues affecting parents and their children, especially when it comes to family safety. Read the blog at mamabearapp.com/blog.
Learn more about the MamaBear Family Safety App at MamaBearApp.com or follow MamaBear on Facebook and Twitter.