Financial Literacy Month is officially half way over! Here are more tips and activities for you and your kids.
Week of April 15th - April 21st
- April 15: Participate in age appropriate volunteer activities. Teens could help in a food pantry or start a clothing drive. All kids can participate in fund raisers and donate money to charities that you support.
- April 16: Encourage your child to set a goal and make a plan for achieving it. When a child or teen knows what they are saving for, they are much less likely to blow their money on an impulse purchase. I recently wrote a blog entry to help teens avoid impulse spending.
- April 17: Use your family change jar to help your child learn to count back change.
- April 18: Younger kids: Help them make their own piggy bank out of jars or containers. They can have one or multiple ones for different purposes (Save, Spend, Share, and Invest). Let them decorate it!
- April 19: Try letting your teen be in charge of their clothing budget. After a few months, they become much more careful spending their own money.
- April 20: Allow your child the pleasure of purchasing something with his own money. The satisfaction of earning purchases is an important lesson to learn.
- April 21: Talk about and model the correct way to use a credit card. A credit card is a helpful tool if you only purchase what you can afford and you pay the credit bill entirely each month.
Got any tips or activities of your own? Please share in our comments section!
See you next week!