pen rainbow

Saturday, August 1, 2015

Saturday Finances—Teaching Kids About Money

How I learned to manage money



Saving money starts early


Fun Ways to Teach Kids About Money

  • give them a piggy bank 
  • set up a pretend grocery store with play money & empty sample containers
  • find games that involve buying & selling (Monopoly, 3M Stocks & Bonds, etc.)
  • stick to cash in small amounts (no plastic or gift cards)
  • teach kids to count with coins  
  • let them organize a sale of their stuff with real money & invite their friends to the sale; nothing over $1
  • make grab bags to sell to sibs & friends (they clean out their toys & drawers)
  • start a coin or stamp collection
  • let them put stamps on letters (postage has value)
  • give them a birthday savings bond
  • give them some coin wrappers
  • teach them to use an adding machine
  • give them an old checkbook cover and let them make pretend checks
  • take them to the bank when you do your banking
  • buy a fun mechanical bank & drop in coins
  • have a bake sale
  • let them donate small amounts of money to a good cause (Salvation Army buckets, etc.) 
  • if their school participates in Scholastic book orders, let them pick out books within a budget
  • Buy something they want on lay-away
  • Don't give them money; let them earn it