Saving and Spending: Introducing Children to Money

Activities to teach children moneyBy teaching your kids about money from an early age, they will be able to grasp its importance.  Money plays a big role in our lives.  From saving, spending and investing, the talk of money is heard everyday and everywhere.  Educating children about money can encourage them to start saving and also help them realize the value of a dollar.  There are many ways to do this.  If you give your children an allowance, explain to them why they are getting an allowance.  They may question about what they can do with the money that they earn.  Depending on the age of the child, an allowance can be either used for school lunches and weekend money or just deposits made into a piggy bank for rainy days.  Regardless, children can have their own money and with enough guidance can appreciate it and can really set a goal for how they plan to use it.

Know the denominations

When giving your child money, separate bills into denominations and add together how many $1 bills make up a $10 bill.  By breaking bills into smaller denominations, kids also have the option of putting aside $1 for every allowance they earn.  This dollar put aside each time can introduce a young child into the world of saving.

Money intentions

Set goals with your child based upon what his/her goals are.  There is a difference between what a person needs and what a person desires.  Explain to your child that when you earn a paycheck, there is a certain pot of money that goes to essential items such as groceries or electric bills.  There is also another pot that is used for money set aside.  This pot of money is mostly needed for things such as vacations or saving for a newer car.  Ask your child to separate his/her money into separate pots.  This will give children an early indication of what it means to spend and save.

Going to the bank

If your child is old enough to accompany you, why not go to a bank and open a savings account for them?  This may seem like a very big deal to a child and it will open their eyes to the world of banking.  Seeing that he/she has money a big, financial institution will make him/her feel like such a big kid!

Going to the grocery store

Grocery store trips happen more often than not for a family and it can also teach kids about how many is spent in a real-life setting.  By going through each aisle and looking for the items that are indicated on the grocery list, kids can see that items can be priced at different values.  At the checkout counter, your son or daughter will witness how the groceries add up, too. 

Teaching your kids about money (especially saving) can never be a bad thing.  An early education will benefit them for the rest of their lives.

 

 

 

 

 

 


 

Names for Boys


Baby Boy Names

Choose the perfect name for your bundle of boy with help from our lists of thousands of boys names.

Boys Names

Names for Girls


Baby Girl Names

Find a beautiful name for your new daughter with easy to use lists of names and name meanings for girls.

Girls Names


Quotes for Life


Quotes About Life

The right quote at the right time can make you feel like there is a kindred spirit in this world that thinks like you do.

Some quotes have no other purpose than to make you laugh...something we could all use more of. Get inspired or reassured, visit the quotes pages often.

Quotes to Live By

Keys to Learning

These are the big lists for reference, all things vocabulary, reading and writing. 


List of Verbs

List of Pronouns

List of Prepositions

List of Nouns

List of Adverbs

List Of Adjectives

 

 


 

Bread Pudding Recipe


Bread Pudding

Cinnamon and vanilla infuse this custard-like dessert that starts with simple ingredients, but tastes like pure luxury.

Warm Spiced Bread Pudding Recipe

Easy Dinner Ideas


Easy Dinner Recipes

Try a variety of 30 minute meals, they're complete homemade dinners from kitchen to table in a half hour.

Quick and Easy 30 Minute Meals