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I think digital money is just too abstract for kids, and even adults struggle with comparing amounts and truly grasping their significance. Handing over a stack
by ericd 2y ago
I think digital money is just too abstract for kids, and even adults struggle with comparing amounts and truly grasping their significance. Handing over a stack of bills just feels a lot more significant than swiping your card, which is the same whether you’re buying a $5 coffee or a $5000 tranche of a home renovation. With cash, you have a lot of the stuff in your hand, and then you have less vs none.
- maccard 2y ago> I think digital money is just too abstract for kids, and even adults struggle with comparing amounts and truly grasping their significance. Handing over a stack of bills just feels a lot more significant than swiping your card, which is the same whether you’re buying a $5 coffee or a $5000 tranche of a home renovation. With cash, you have a lot of the stuff in your hand, and then you have less vs none. But, that's how the world works. What major bills are you paying that you pay c cash for in the last decade? All the more reason to teach kids to operate in this way.
- ericd 2y agoWell, similar to how Montessori (and now most public schools, it seems) deal in manipulatives first, and then switch to abstract later, I think the same makes sense for money. And I actually have been going back to cash more often, and I spend noticeably less when I do. And I’m an engineer who loves spreadsheets, so I’m guessing it causes most people bigger spending issues.