Reuters Money

Beth Kobliner is a personal finance commentator and journalist, and the author of the New York Times bestseller GET A FINANCIAL LIFE®: Personal Finance in Your Twenties and Thirties. She was appointed by President Obama to the President’s Advisory Council on Financial Capability, a bipartisan committee charged with tackling the problem of financial illiteracy in our country. The opinions expressed here are her own.

Kids are never too young to learn about money. (I’m sure I’m preaching to the choir, blogging on this site!) But even though I’ve been saying that for a while, I never had a trusted resource to share with parents.

So I was thrilled when Sesame Workshop asked me to be an adviser for their new financial education initiative. The finished product, “For Me, for You, for Later: First Steps to Spending, Sharing, and Saving,” includes several videos in which I teach Elmo about money, plus guides for kids and parents/caregivers. And it’s all free!

Best part: There’s no math required. This isn’t about teaching that five pennies equal a nickel. Instead, Sesame focuses on concepts that 3- to 5-year-olds can understand, and encourages parents to make use of everyday teachable moments. Here are a few ways to get started:

• Going grocery shopping? Talk about things you need (like apples or milk) and things you want (like cookies). It’s important for kids to know the difference!
• Having a playdate? Encourage your child to share his shovel in the sandbox, and you’re planting the seeds of charitable giving.
• At the toy store? If your daughter wants a scooter, but doesn’t have enough in her piggy bank, explain that she can save her allowance to buy it. Sometimes we have to wait for things we really want.

You can find more tips (and even a rap about saving!) at sesamestreet.org/save. Please share the videos and guides with all the little kiddies you know (kids, grandkids, nieces, nephews) and tell me their reactions or ask me a question. You can find me at bethkobliner.com, Twitter, or Facebook.