While everyone wishes a “money tree” did actually exist, those who work hard for the money know differently. How many times did your parents tell you that “money doesn’t grow on trees,” and how often do you find yourself cringing when you voice that same wisdom to your kids?
While spending always seems more exciting than budgeting and saving (at the time), it’s important for us to teach our kids to be responsible with their money so they can avoid making many of the same money mistakes their parents did.
Here are some fun and easy ways to teach your kids about money this summer:
Goal: To emphasize the value of money and teach kids that money isn’t “free?” To make sure they understand that you have to work for the things you purchase.
Kid-tivity: Come up with ways your child can earn money toward something he or she wants to buy or wants to do. Here are some ideas:
- Extra chores around the house or for a neighbor
- Babysitting (must be at least 12 years old and very responsible)
- Pet-sitting or dog walking
- Yardwork or gardening
- Washing cars or windows
- Lemonade or popsicle stand
- Yard sale … and more!
Goal: To have your children understand what it means to be charitable and he or she can have a sense of accomplishment and pride by giving back to his or her community.
Kid-tivity: There are plenty of big and small ways your child can give back, whether or not money is involved. Here are just a couple:
- Have him or her buy a toy for a child in need with his or her own money.
- Find a local volunteer project you and your child can participate in. Explain what the charity is and why you’re helping.
- Keep a change jar around the house for loose change and let your kids pick the charity they want to give it to when the jar fills up.
- Show your child the value of time by spending time with an elderly neighbor or shut in. Explain that the giving of time is just as valuable as the giving of money.
Wallet Wellness Challenge
Can you think up of more ways to teach your kids the value of money? Get creative! Make it fun! Then share them with us!
This entry was posted on Monday, June 23rd, 2014 at 3:46 pm and is filed under Primerica, Tips, Wallet Wellness. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.