This halloween, teach your kids three fundamental skills related to financial management: Delayed gratification, negotiation and charity.
Playing these games which promote financial literacy with your kids is going to be awesome. You will actively engage them in conversations about money and help answer a lot of their questions.
For Ages 4+
Let’s get this straight – gambling is neither an investment nor a way to earn a living. From an early age, the children need to understand that indulging in the lottery is a bad idea. Just talking to them about this may not suffice. Here is a fun activity you can do with them to help them understand how gambling is a bad idea.
For Ages 8+
Age 6 is a good time to introduce a real-time example of how a simple math skill (addition) can be used in real world. This simple and fun activity will help the children in becoming more confident in math and handling money.
A simple and fun activity to teach kids about counting money.
Yes saving money is extremely important & yes “making money” is also important. However, most parents ignore the fact that the money that is earned & saved – can and must be invested so it can grow! Tips on growing money is one of the most important lessons in a kids life – why? Because kids learn through observation and repetition, but this one aspect of money- the kids seldom
Single player (Parents play with or against the children): Multiple players (Kids play against each other):
Kids always surprise you with how much they learn from observation. What they learn, they may immediately forget, hence “repetition” is another tool to retain the information they receive. Money and finance is no different. What they don’t learn from you, they will learn from observing others. So, it is important to talk to kids about money and do it frequently. If you are uncomfortable doing that, well we are
Around age 4, kids start learning that money can be used to exchange goods. They watch parents give money to buy products. This activity introduces them to concept of “names” and “values” of coins.
A fun activity to teach kids about coins. Its fun for parents and kids!