A Summer of Money Learning Made Fun
Summer is here and with it comes the challenge of keeping your kids engaged and occupied. If you’re finding yourself in this predicament, don’t worry… we can help! If there’s anything we know about kids it’s that they have eager minds and they love hands-on learning! Make this summer about money learning and having fun while you’re at it.
Here are some ideas to get you started:
Lemonade stands are a great way to begin their money learning journey. It teaches kids the importance of hard work to earn money. Take them to the store and encourage them to shop for supplies/groceries on their own. They need to know the costs and should be familiar with how a business works (profits, losses, breaking even, cost benefit analysis etc).
The MoneyPrep app
Kids are curious about money and how it works in the real world. We help them understand it. The MoneyPrep app uses gamified learning to teach kids financial literacy concepts through the power of play. This game will help them learn how to manage money and make smart choices.
An important aspect of money handling is the need to share when you can. When kids learn the importance of giving back, they become better humans (and smarter with money because they recognize its value). Organize a charity drive for them this summer… but with a twist. Make the charity drive cash only. Once they have collected the cash, get them to do all the calculations on their own and ask them what items they should buy for donations. This will teach them about wants vs needs, and introduce them to real world costs.