Teaching About Money
- Children and teens with FASD have trouble with abstract concepts such as money. Although you can touch money and hold it in your hand, the value of money and the worth of items are abstract ideas.
- Because these children have difficulty grasping the abstract thinking skills related to understanding money, their ability to manage money can be very poor. Forgetting to pay bills is common.
- Individuals with FASD ‘live in the moment’ – they do not always think about their past mistakes or future consequences of their actions.
- Individuals with FASD often do not understand that a certain amount of money must last a certain amount of time. Thus, they will make impulsive purchases without considering future expenses.
- Use a budget book: Help your child keep track of his expenses, when he owes money, and when and what he spends his money on. Plan for monthly bills to help him understand time and money concepts.
- Teach value: Use real money at home to equate sums of money with the value of clothing, groceries, etc.
- Teach handling money in real places: Have your child budget for weekly groceries, and help her practice selecting the items at the grocery store, calculating the total, and purchasing the items.
- Caution about lending money and selling belongings: Make a rule that your child needs to ask a parent before these activities to avoid losing money and/or possessions to those who may take advantage of her.
- Set an allowance for your child that is broken up into smaller payments.
- Help your child spend wisely by planning out exactly where the money should go, writing it down, and supervising your child’s purchases.
- Praise good spending decisions.
For a printable tip sheet of this information, click here.