Friday, April 22, 2011

And...Still More Tips & Activities for Financial Literacy Month

This is it.  The final group of tips to take your through the rest of the month.  I hope you have found a few activities to do with your kids.  Teaching children and teens to be financially responsible and ready to tackle the real world is not a quick fix. It is a way of thinking and interacting with your kids on a daily basis.

April 22nd - April 30th

April 22:  Talk with your child about the difference between needs and wants, using examples that she can relate to.  Stress that a want does not become a need just because she wants it really badly!

April 23:  Read books that relate to money concepts.  I have recently reviewed two books for kids and two books for teens.

April 24:   Check out some great online money games for your child.  I have a recommended list on the home page of this blog.

April 25:  Have your child wait a week or two before purchasing a big item.  If they still want it after a week or so, then it is probably a good purchase for them.  If the excitement has worn away, they can probably live without the item.  Delayed gratification can reduce impulse purchases.  A blogging friend of mine, Suzanne Parker at Growing Rich Kids,  recently wrote a great article about Delayed Gratification.

April 26:  Count and roll the change in your house.  Kids will be surprised how much the change can add up to.

April 27:   Encourage your children to donate or sell toys that they no longer play with.

April 28:  Reduce your kids’ exposure to ads.  You may just see a reduction in the "gimmes!"

April 29:  Don’t be an ATM for your teen!  When he runs out of money due to spending or poor planning, make him wait until the next allowance day.

April 30:  Consider matching or paying interest on money that kids save.

Let's continue the conversation!  What ideas or tips do you have that have worked with your kids?



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