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| from 401kcalculator.org |
To celebrate Financial Literacy month, I have gathered 30 activities, one for each day of the month, that you can do with your child or teen to help start them on a path of financial responsibility. Here is the third installment.
Week of April 16th - 22nd
April 16th: Allow your child the pleasure of purchasing something with his own money. The satisfaction of earning purchases is an important lesson to learn.
April 17th: Help your child learn to count back change.
April 18th: Read books that relate to money concepts.
April 19th: Allow your child to make money mistakes. It is hard to sit back and watch them spend 5 weeks of allowance on the “toy of the moment”. However, it’s better to let them learn from mistakes while they are young and the consequences are minor.
April 20th: 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.
April 21th: Don't be an ATM for your kids.
April 22nd: 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!
I have a piggy bank for my little ones. I let them put money in it every week. They love doing small chores too earn some change for their banks.
ReplyDeleteIt is never too early to get them started on managing their money!
DeleteI've nailed the 21st, don't be an ATM for my kid. I never just hand out money to her, she knows she'll have to work for it. Great ideas, Pam. :-)
ReplyDeletehelpful article
ReplyDeleteThanks