Learn the value of money and saving.
10 fun ways to teach your child the value of money
1) Get to a sale of second-hand
In the U.S. it is typical for many families to dispose of property items they no longer want by putting them up for sale on the sidewalk in front of his house. These sales, called “garage sales” (garage sale or yard sale) are full of curious children, such as books and toys.
Your older ones children soon discover that the money from his allowance pays them much more in these “outside sales” in the mall.
If your family does not like to get up early on weekends to go to garage sales, you can go to a thrift store. The two options are also an excellent opportunity to talk to children about the importance of recycling objects.
2) Make a visit to the bank
The next time you go to the bank, get your little one. Explain you do banking transactions (deposits or withdrawals) and allow Him to help you in everything you can. For example, he can deliver the check to the cashier.
When your child is a little older, you can open an account in your name and teach him to be thrifty. Many financial institutions offer savings accounts (no additional fees) for children.
3) “Contract” to your child as your assistant
Our children see us pay by credit card many times at the supermarket and that is why many believe is a magical and infinite source of money!
Explain the “mystery” and let him help you make the monthly payments on credit cards. Review the payments and remind your child what they are paying (“Do you remember the shoes you bought last week?”). You can also put the check in the envelope. If your son is bigger, you can write the check number in your checkbook.
Your little will love to participate in your activities. He also begins to have a clearer perspective on the flow of money. There may be other benefits that you will not imagine. For example, once your son knows how much electricity costs, you may be more willing to cooperate when you ask him to turn off the lights when leaving a room.
4) Shop at outdoor markets (Farmers Market)
When they go to the grocery store, your child sees only the products, and never to farmers that produce them. To take it outdoor markets (Farmers’ Market) better understand the relationship between work and money. Invite your child to help you select fruits and vegetables and to pay for the products.
Explain that farmers planted strawberries, so they can decide what to charge for them. The client decides whether worth buying for that amount. Commendable with profits, farmers buy more seeds to plant more strawberries.
5) Look up and cut coupons
Before recycling all that mountain of brochures that you receive on Sundays, you can make a “holiday coupons” with your child. Even if you’re fond of coupons, keep them. They can be a tool to teach your child about the savings and discounts.
Ask your child to identify once the coupons can be used for purchases of the week (this is a task that can make even children who cannot read yet, just looking at the pictures), the cut and store in a about. The next time you go shopping let your son take care of coupons.
Your child may be (depending on your age), the “administrator coupons” and “product finder”. After shopping, talk about the money they saved and how they might use it.
But if you cannot stand the idea of using coupons, savings card uses your supermarket. While buying, Point out to your child products that have special prices for club members savings, and then show him the receipt the amount they saved.
6) Work as volunteers and family make donations
To begin to understand the world of finance, children need to understand that there are people who have more money than others and that those who have more can help those who have less.
You can do simple things for your child to get used to being generous. For example, they can buy food and deliver it to a local charity. Or, participate in a just cause in which your child might be interested. If you like animals buy food and other items and take them to the nearest animal shelter.
7) Encourage your child to earn some money
Making money is not only educational for kids, but also helps them to be responsible. The old tradition of selling lemonade is still a good option, and it will teach your child to work together. The older brother can take care of the money while the younger delivers cups.
Other ideas for making money are: selling toys and clothes that no longer serve you help prepare a family garage sale, and help with work at home special.
8) Sign up for a class
Many financial institutions offer classes and workshops for children. If you think your child is not interested financial matters, anyway give it a try. “It always amazes me to see what children are interested in learning about money,” says Mark Hodowanic, who runs workshops on financial credit union in the United States. Find out what type of classes offered at your bank or credit union.
9) Mark a savings goal for the family
Is your child anxious about going to Disneyland? Set a long term goal and start saving money in a kids bank. This makes the family work as a team. Children can take the coins in the bank your spare and also contribute some of their own money occasionally.
10) Play together
The next time your child asks you for permission to use the computer, let me try some of the online games that teach money management. Many pages of credit unions have games and other activities, such as pages for coloring you can print.
Today, with so much technology, not many people remember the table games. However, games like Monopoly or Life, (although they refer to imaginary situations), help plant the notion of making money, saving and losing.