Want your kids to be financially literate but have no idea? as? here are 10 best fun activities to teach your kids about money fast
Today, many people and businesses are mired in financial trouble due to a poor understanding of money and poor financial management skills. Unfortunately, schools don’t teach how to handle money, so the trend is likely to continue unless parents start teaching their children about money at a very young age. If you’re looking for some fun activities to teach your kids about money, here are ten great ideas.
10 best fun activities to teach your kids about money
1. Make a savings account for your children
Take the kids to a bank or credit union to open their savings account. This will encourage them to start a saving habit from an early age and teach them the importance of it as well. However, whenever they want to withdraw some of their savings for a purchase, don’t turn them down, as this will completely discourage them from saving. Over time, your children will learn that saving is one of the keys to financial success.
2. Encourage your kids to earn money
Another way to teach children about money is to encourage them to earn money on their own. Now that doesn’t have to be a lot of money – just a little bit of money will do. This will not only teach your kids the art of making money, but it will also help build their confidence.
A good business idea for this is the lemonade stand, which even has the added benefit of encouraging teamwork. One child can handle the money while the other distributes cups to customers. Selling used clothes and other items at your local flea market is another idea.
3. Do regular shopping
It may sound strange, but shopping can be a great opportunity to teach children to assess value for money.
Spending smarter at the grocery store can save you over $ 1,500 a year on a family visit. And you can help your kids understand this lesson by showing how to plan lean meals, avoid waste, and use leftovers effectively.
Spending money can be fun and productive if it’s well planned and done with care. Practice this right in front of your children – this is the best way to send a message to them.
4. Let your kids make spending decisions
Children are always happy when they are allowed to do things they usually shouldn’t, like making spending decisions. But your goal here is not just to turn them on; it’s about teaching them to choose what spending they make – good or bad. Encourage them to use common sense when shopping. In other words, do your research before making any big purchases and wait until the right time to shop.
5. Set a family savings goal
If your child wants to go on vacation to Venice or somewhere in the Caribbean, take this opportunity to teach them about money. How? ‘Or’ What “You can agree on a long term goal and start saving the money you need for a holiday. Encourage your kids to contribute some of their benefits Family Vacation Fund – and don’t forget to lead by example.
Successfully use all means necessary to take your children. on vacation, you teach them that saving time is the best way to achieve a long-term goal.
6. Volunteer and donate with the whole family
Another lesson you need to teach your children at a very young age is that some people have more than others, and those with more can help those who have less. There are many things you can do to teach your children to give. These include buying food together and delivering it to your local grocery store, or giving money to the whole family and donating it to an orphanage in your area.
7. Start a garage sale
There are usually a lot of baby items for sale in the yard. Your youngest children will be happy to choose a book or a toy store in the street … and your older kids will quickly find that their allowance can buy more here than at the mall. Taking your kids to the garage sale is a good way to teach them that there are always places where they can buy things at lower prices and that not everything has to be bought at the mall.
8 Give everyone their children to discuss
Keeping track of your income and expenses is a good way to keep track of your finances and help you stay within spending limits. So, being able to keep a good record of money saved, invested, or spent is another important skill that you should teach your children. And one of the easiest ways to do this is to give each child a note of all income and expenses.
9. Tell stories
Like everyone, children love stories. They are always excited when told stories and usually listen with special attention. Taking advantage of their interest in stories, you can teach your children about money by telling them stories of successful entrepreneurs. At the end of each story, tell them what lessons to learn, as most children will not be able to handle the lessons on their own.
10. Play games: Encourage your children to play games that teach financial skills that can help you teach them lessons about money. You can find many of these games online by looking at sites like MoneyandStuff.info. Board games like Monopoly or Life are also great for teaching kids about money.