Teaching Kids About Money

Teaching Kids About Money

Teaching Kids About Money

Teaching kids about money can be a strange concept for children. Many kids eventually develop an understanding that things cost money and money is needed for certain goods and services. However, they may not know where that money comes from or what its value really is. Teaching your kids even just the basics about money can help them with simple math. This knowledge will also help mold them into young savvy savers.

First Thing’s First: Money Doesn’t Grow on Trees

Many kids might think that in order to get money, all you have to do is go to the bank and ask for some. Take the time to explain where and how money comes from. You need to work hard to make money and the types of jobs they can obtain.  This will help them better understand that there is more to money than it simply being at a bank. Depending on how old your children are, you can provide them money or other forms of payment. This can be such as snacks in exchange for completing chores or helping around the house.

Giving Them the Goods

Whether you decide to give your children money in exchange for chores or as an allowance, you can use this as an opportunity to teach them budgeting. The best way to teach kids how to manage their money is to give them some. If they decide to spend their allowance on a new toy, then they won’t have enough left over for when the ice cream truck rolls around. This may sound like a hassle to deal with at first. However, first-hand experience is a great teacher and it is more likely to be a lesson they will remember.

Teaching Kids About Money and Responsibility

Spending vs. Saving

This can be a family activity that you do together, whether your child is helping you go grocery shopping or you are helping them look for the best deal on a toy they want. Looking at coupons, comparing prices, and making a budget together can be really helpful for forging good spending habits in the future. Plus, it can help teach them valuable, and thrifty, saving and spending skills.

Incorporating Fun Activities

There are many activities out there that can teach kids about money while at the same time helping with their math skills. These activities can be based around basic financial principles, including charitable giving, delayed gratification, budgeting, saving money, and compounding interest.  For more in-depth reading on how these fun activities can be implemented read here.

How To Boost Your Child’s Memory

As time goes on and as people age, certain things may become more difficult. Retaining information and remembering certain things can become increasingly challenging, and as a result memory games are making a comeback among adults of all ages in hopes of boosting their memory skills and their overall brain functionality. It is never too early to promote a healthy brain, and there are plenty of ways parents can help boost their child’s memory. Whether you are helping a child who struggles with retaining information or is studying for a big test, or even if you are simply looking for fun, interactive games your children can play that will also boost their brain power, then here are some ways you can help hone your child’s memory.

Practice Visualization Skills

After reading a book, going on a trip, or even after a long day at school, ask your child to draw some pictures about what they did that day or what happened. Visualization is a great memory tool, not only for improving your child’s overall ability to remember details and keep them fresh in their mind, but it also helps with understanding abstract concepts and communicating abstract ideas.

 

Visual Memory Games

Speaking of visualization, visual memory games can help to significantly boost this area of your child’s brain. There are plenty of games like this on the market whether they are video games, apps, or physical board games. You can also make up your own games as well – ask your child to circle every instance of the word “the” in a magazine or play “I Spy” with the letters in license plates that drive past you on your next outing.

The Student Becomes the Teacher

If your child is struggling with a particular subject in school, ask them to teach you about it. This may be difficult at first, but they can start out by telling what they know before delving into what gives them pause. From there, as kids begin to explain the subject matter, they may develop a different understanding of it. By switching their point of view, kids can learn how approaching subjects from different angles can not only help broaden their understanding, but it can help them find out which methods help them learn best. Plus, kids will have to call upon their memory in order to teach you, whether they are teaching you about their homework or about the rules to a game they enjoy. Outside of schoolwork, this exercise can be applied to fun things and whatever interests your child has.

Playing Cards

Card games rely on memory a great deal, whether you are playing Uno, Go Fish or War. This can be a more indirect approach to building memory skills, plus these classic games can be played anywhere. Your child will have to keep the rules of the game in mind while also actively remembering what cards they have as well as which one’s other people have played.

Active Reading

Active reading can mean anything from taking notes and highlighting sections to asking questions and reenacting scenes from the last chapter. Adding additional activities to reading can not only make reading more fun and engaging, but it can help kids make connections and better remember the events of the story.

Big Kid Milestones to Celebrate

When it comes to milestones for children, many parents focus on things like first steps or first words. These are great accomplishments and are certainly worth celebrating, but there are other milestones that are also worth a huzzah. As children get older, they become more complex and independent individuals. Recognizing the steps they take towards becoming their own people are just as worthy of celebration as their first day of school. Not everything needs cake and a party, but letting your kids know that their growth is acknowledged in a special way can be incredibly beneficial to their personal growth.

Joining a Club or Sport

When your child engages in an activity, they are not only building a skill but they are also flexing their teamwork muscles, too. Whether they have joined a soccer league, the girl scouts, decided to participate in an after-school program for art and crafts or even decided to enter the science fair, it is a sign that your child is interested in learning more about their own interests, and exploring what opportunities for growth and friendship these activities might give them. Kids may not realize the weight of what they are doing, but even deciding to take up a sport or hobby simply because it looks fun is a big step towards making their own decisions and being their own person.

Stepping Up to the Self-Care Plate

When kids are younger, they need help getting dressed, brushing their teeth or getting a glass of water. There are many of these micro-activities that kids need guidance with when they are younger, but it should be noticed when they begin to do these things all by themselves. It not only shows initiative but it also shows that they are growing into their responsibilities as a person, too. These activities can become more meaningful as your kids age, and to them it may not seem like a big deal but many parents would jump for joy if they saw their child pour their own milk and cereal for breakfast or take it upon themselves to clean their room.

Reading A Chapter Book

Reading can be difficult, and depending on where your child fits on the reading spectrum different milestones may come with different feats. Kids who have difficulty reading or are slow learners, reading a chapter book on their own is a big deal. Plus, the confidence boost that comes with this milestone may help encourage them to practice and keep reading.

For kids who are natural readers and enjoy the activity, reading full chapter books may not be all that unusual. Trying something unique such as personalized chapter books, starring them as the main character can motivate them to read more. Also trying something above their skill level or out of their comfort zone should be applauded, too.

Riding a Bike

This is a classic, but it is a tradition that every parent should celebrate with their child. Whether your child is testing out their first training wheels or finally ready to take theirs off, learning to ride a bike is a big deal and it helps encourage kids to stay active.

Showing Some Sympathy

Sometimes parents need to coax their children into looking at situations a certain way and guide their behaviors to a certain degree. For instance, if you have multiple kids and they get into a fight, it may be your job as parent to be the mediator. But if you see your child apologizing, offering sympathy, or simply being nice to their sibling or someone else without needing any prompt to do so, it should certainly be celebrated. This is an expression of emotional growth that should be encouraged and can help kids grow into more understanding and empathetic people.