“Fun” and “finances” aren’t usually used in the same sentence. However, teaching the next generation about making smart financial decisions from a young age will help them as they grow up. Therefore, finding ways to make finances enjoyable for children is essential to the success of their financial foundation. With school being out for the summer, now is the perfect time to get started.
Of course, this can be a lot easier said than done. To help make this process a little bit easier, we’re sharing three fun ways to teach your kids about finances. Keep reading below to learn more!
Make Saving Money a Game
If there’s one thing children love, it’s games. That’s why turning finances into a fun activity or competition is a great way to teach your kids about money this summer. Since they’ll be spending more time at home without school in session, let your kids come up with ways to earn money. Based on the “jobs” they come up with, you can discuss how much any given task is worth. Have them pick a new toy or item they want to buy with their own money. This will teach children how to work hard to earn money and learn about the value of saving, all while having some fun at the same time!
Dinner Table Talk
One of the best ways for children to learn financial competence is by having open and honest conversations about money. Start by using one family dinner per week to talk about these subjects. Pick a new money topic every week that you can teach them about during meal time – keep it simple depending on their age range! Let them ask questions and answer in terms they’ll be able to absorb easily. If they’re old enough, another great way to loop money into the conversation is by having them pick a current event of the week to talk about at the dinner table. Talk about the event and how it relates back to finances and savings. They’ll be able to better understand how saving money is necessary for when unexpected events come up, as well as how finances relate to other things happening outside of the household.
Movies and Media
What’s better than a family movie night? Next time you gather on the couch for a late-night flick, use it as a learning opportunity for your children. There are plenty of movies that showcase how working hard will earn you a successful life down the road. Find family-friendly options, such as Moneyball or The Pursuit of Happiness, that can teach them valuable life lessons. In addition to movies, you can use resources like books, computer games, and other childrens’ media outlets to provide them with the knowledge they need to learn the value of investing in your finances down the road.
Are you interested in learning more about finances, healthy living, and how to take control of your life? Sign up for Dr. Sangani’s “Life Is A Business” mentorship program now!