Smart Ways To Teach Children About Money

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Being able to make good financial decisions doesn’t just happen. We have to teach our children the value of money and do so in ways appropriate to their ages. It’s never too early to get these lessons started, especially nowadays. Since marketers have begun aiming ads at children with every media channel, they must understand that certain purchases aren’t worth the investment. If you don’t teach your children how to manage money, someone else surely will. But that isn’t a risk you want to take. With that in mind, here are ten smart ways to teach children about money. 

 

Play Classic Board Games

Many classic board games are more educational than most people realize. Rather than just teaching board game etiquette, Monopoly introduces children to important life skills, like saving for retirement and purchasing real estate. Playing these games as a family gives you a chance to explain to your children how the rules of the game apply in real life. Other childhood games, like house and grocery store, also teach kids about finances, along with cooking and cleaning. 

 

Write Letters To Santa

Once the weather turns frosty, children get excited for Christmas. They want to decorate the house, make gingerbread houses, and, most importantly, write letters to Santa. Although this is a fun annual activity, it could be an educational experience too. Rather than letting your children ask for whatever they want, give them a spending limit. Having a spending limit makes your kids consider what gifts are really important to them. This is a great opportunity to practice math too. 

 

Make Them Earn Money

Although Christmas is a time for giving, that rule doesn’t apply for the rest of the year. Instead of handing over money whenever your children ask for it, you should make them earn it. Depending on their ages, there are a few ways to do this. Teenagers can take on summer jobs, while younger children carry out chores at home. Entrepreneurship is another option to consider. Even a lemonade stand throughout the summer is a business, so teaches many important lessons. 

 

Chat With Financial Experts

A financial adviser is an important resource, both for adults and children. Taking your kids with you the next time you speak to money experts gives them a chance to ask questions. If you have a living trust set up for your children, allow them to meet your living trust attorney too. At this meeting, you can explain what a living trust is and under what circumstances your child would be given money from it. Having these meetings now will make financial experts seem less scary. 

 

Open A Savings Account

After meeting with your financial adviser, you might decide to open a savings account for your child. When you do so, make sure that you take them to the meeting. Explain exactly what a savings account is, how interest works, and how to access that money. If your child has earned their own money, ask if they would like to invest that into their savings. Once your child is old enough, you can open a checking account. This would give them greater control of their money. 

 

Shop For Groceries Together

Certain chores take much longer with children in tow. Shopping for groceries certainly makes that list. However, that doesn’t mean that you should leave your little ones at home. After all, shopping is an important chore and life skill. Unless your children know how to shop smartly, they’ll waste money when they’re older. Before heading to the store, write a grocery list, make a budget, and gather coupons. Each of these tasks is important and helps with money management.

 

Download Money-Related Videos

Most parents are always trying and failing at limiting their child’s screen time. While you shouldn’t give up this battle entirely, you could be flexible. The internet doesn’t just waste time and can instead be incredibly educational. YouTube is a great example. Although there are many pointless videos on the platform, you can find a few that teach children about money. These are fun, interactive, and fairly short, which means your child could easily see one during a car ride. 

 

Choose Different Bedtime Stories

Just like videos, books can be both fun and informational. When choosing your child’s bedtime story, pick a book that talks about money. There are hundreds out there that focus on different financial topics, including entrepreneurship, investing, and money trouble. If you don’t own any books about money, then head to your local library. Without having to spend a penny, you can take home a variety of books. Alternatively, you can download and listen to audiobooks. 

 

Set A Good Example

Children learn by what they see. This means that, if they see you managing money well, they will understand that they must do the same. Unfortunately, the opposite is also true. Overspending, lying about money, and other bad financial habits can make your kids question your teachings. That is why you must set a good example for them. Make sure you also explain what you’re doing when using an ATM or writing a check to help your children learn basic money concepts. 

 

Leave Room For Mistakes

Part of allowing your kids control of their money is letting them make mistakes. While you can explain to someone the consequences of bad money management, they’ll never truly understand them until faced with them. While it’s tempting to step in and steer children away from costly errors, doing so could hold them back. A mistake might seem disastrous to them now, but the lessons they learn from it would benefit them later and keep them from making a bigger blunder. 

 

Money is a topic many children think very little about. With parents buying everything they need, kids usually assume that money comes easily. Teaching your children the value of money will not only benefit them in the future but help you now. Once a child knows that things cost, they usually become less demanding. Hopefully, the tips above help you teach your kids about money.

Fun Things To Do As A Family On The Weekend

As the weekend rolls around, it’s an opportunity for you to relax after the working week and for the children to have fun after a week of learning at school. However, sitting around all weekend can be wasteful and although a rest is needed, having fun with your family is important. Here are fun things to do as a family on the weekend. 

 

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Get Some Education

Education is beneficial to a child’s development, and it can dictate what your child does as a career when they grow up. Their level of education will decide on what college they get into and what career options are available to them. Therefore, any parent wants to give their children the best opportunity to do anything they wish to do. So the more life experiences and knowledge you offer them, the better. You can all get a bit of education in the form of a popup museum that may be local to you. With museums, they can offer a wealth of knowledge that can even be new to yourself. It’s great to do as a family because you can chat about what you’ve learned afterward and you can spend hours at a time in a museum.

 

Visit A Theme Park

A theme park is the ultimate day out, and whether you’re children enjoy going on roller coasters or not, there’s a ride that’s tame enough for anyone. Just being in a theme park is exciting enough because it can create a certain atmosphere that can lift anyone’s spirits, especially with theme parks like Disneyland existing. Make the most of your day by venturing out as early as possible. That way, you have the whole day to yourself, and if you’re trying to save money, packed lunches are a great way to ensure you don’t need to leave earlier than planned.

 

Have A Picnic

Talking of food, a picnic is a great family activity to do together, particularly when the weather is nice. Head down to the local park or even outside in your back garden. As long as you’re getting some fresh air, that’s all that matters. Try to create the spread together as a family, and this can help build up skills within the kitchen for your children too. Get a soft blanket or towel and spend the afternoon eating, kicking a ball around, or just relax. You can also try removing any electronic devices to have a mini detox. 

 

Throw A Games Night

And finally, there’s always a family games night. It’s something that you can make as a tradition for the family. Perhaps it’s a specific game, or something different that you play each weekend. It’s a great way of getting everyone together and encouraging a little competitiveness between family members. It also teaches them to play fair and to know that winning isn’t always the point, it’s the taking part that matters most.

 

Hopefully, with these tips, you can fill up your weekend with lots of fun activities for you and the family.

Winter Time Games #Staples

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Baby it is cold outside!! I love this time of year, fireplace going, hot chocolate and the smell of baked goods in the oven. Nothing better, except sharing all of this with your three grandsons! I love spending time with them, usually we try and do outside activities but since it is so cold here we decided to find some fun stuff to do inside.

Thanks to Staples for supplying our games, we now have several of inside games to choose from during this winter weather.

First we absolutely love to play with Lincoln Logs.

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Not only is it fun and safe, but it helps the boys use their imagination to build things. I love how they would rather do that then watch tv! These would make an awesome Christmas gift. You can mix and match Lincoln Logs to make even bigger designs. We can play for hours just building different items. It is recommended for 3 years old and up, due to small pieces.

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The next thing we love to do while it is cold outside is draw! As a former teacher, I couldn’t wait until the grands wanted to start writing. We learn letters and numbers. As a reward after lessons, they get to play with the Spirograph Kit. This is so fun to them and they love to hang up their final design on Mimi’s fridge. I have a fridge of memories!! These are awesome for their little brains because they have the freedom to design it like they want.

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This too would make an awesome Christmas gift. It includes markers and paper in it’s own tray. Great for children who need to work on their motor skills and allows them to learn to make their own decisions by choosing their colors and designs. My favorite type of gifts!

Last we love Bounce Off, this gives them a chance to get up and move, which three little boys seem to love to do. Bounce Off is a game where you have to throw the ball in a pattern.  You draw a card telling you which pattern to use. This has been so neat to watch them grow while playing this game. The are learning so much from counting and patterns.

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This is also my grown children’s favorite game to play with a bunch of friends, so from young to old everyone will love this!

If you think these games look fun, you should see what winter time Staples Games Terri’s playing over on Shabby Chic Boho.

I have tried to simplify my shopping this year, I love spending time over money with the grand kids, I want them to learn the importance of family and time. Staples has been a lifesaver, they have such a variety to chose from. I was able to order most of my Christmas online and save a ton of money.

If you are in need of last minute gift ideas, check these out. You will have so much fun while it is cold outside!