In March we shared some suggestions for every day opportunities where you can teach your kids something about spending and saving in our post, “4 Easy Opportunities to Teach Kids About Money.” This month, we have 4 more ideas for you to implement:
Start a change jar Save each member of the family’s leftover change each day in a change jar on the kitchen counter or somewhere highly visible. When it’s full, let your kids help you count it and cash it in. Then as a family decide what to do with the funds. Who knew you could do so much with pocket change!
Take them with you to the bank
Need to make a deposit? Bring them with. Need to get cash at the ATM? Bring them with. But don’t just let them focus on the candy that the bank teller gives them. Explain to your kids how you keep your money in an account at the bank for safe keeping until you need to use it. And that the ATM is giving you your own money that you already put in.
Play The Game of Life
Rainy night and looking for something to do inside? Why not play The Game of Life! This classic board game is a fun activity that will give you kids insight into the possible milestones they could encounter over the course of their lives. Go to college. Get married. Have a child. Plus the game also comes with a bank and play money, insurance policies, promissory notes and stock certificates.
Look through the coupons that come in the mail or the newspaper with your kids. Have them try to find items that you usually purchase and have on hand. Then let them be in charge of cutting out the coupons and holding on to them during your shopping trip. The kids learn about saving money and you actually save some dough on your next shopping trip!