Play the, “What do you think it costs?” game. Ask your child to guess the price of everyday items. It’s a fun way to teach value.
Send older kids on a price-war scavenger hunt. When at the grocery store, have them find cereal, bread, milk, or other foodstuff with the best price. Then discuss whether it really is or isn’t a good deal.
Reward hard work. When you’re with your child, buy from another kid’s lemonade stand and give a buck to a busker. Provide your child with work-for-pay opportunities – make sure they’re challenging and expect a job well done.
Explain how to use an ATM. You’re there anyway, so explain what’s going on. You deposited money that the bank is holding for you, this is how to swipe a card, deposit checks, etc.
Save for a goal together. Choose something your child or family wants to do and then make a big production out of contributions. Even a toddler throwing a dime into the pot is a moment to celebrate.
Treat your things well and teach your child to do the same. Explain that you work hard to purchase the items you all enjoy. Your time and effort is valuable.
Encourage entrepreneurship. Kids can sell their unwanted toys or clothes online or in the driveway (with your help, when they’re young), walk dogs, or come up with their own money-making venture. Watch Shark Tank together for ideas and a healthy dose of reality.
Talk about financial values. Be open about what you think is right and wrong about money but be respectful of your child’s emerging perspective.
Teach your child to pay – early. Even a kindergartner can buy a drink at a cafe. On days when no one else is in line, let him or her order and hand the money over. Explain how to count the change and drop the right gratuity in the tip jar. This process should not be a mystery by the age of ten.
Give a tax lesson. When you get a store receipt, show your child the line item for sales tax and tell him where that money goes. Explain that some of what you earn goes to the federal government, too. Roads, fire stations, defense, and schools are financed this way.
- Pretend & Play® Calculator Cash Register
- MSRP: $39.99
- Ages 3+
- Available in-store at Target nationwide!
Sandberg’s book, Expecting Money: the Essential Financial Plan for New and Growing Families, is the first and only to specifically address the unique financial hopes, costs, and concerns of parents-to-be. Learning is a life skill that is imperative to future success, a message Sandberg and Learning Resources feel strongly about. Expecting Money is scheduled to re-release in April and will be available on Amazon.
About Learning Resources: Learning Resources® is a leading global manufacturer of innovative, hands-on educational products trusted by teachers and parents and loved by children. The Company’s 1100+ high-quality products are sold in more than 80 countries, serving children and their families, preschool, kindergarten, primary, and middle-school markets.
Now for the best part! One lucky winner will get their choice of Learning resources toy from the above selection. Just head below and enter to win! Giveaway open to US only and ends on 4/27 at 11:59pmEST. Good luck!