Teaching your kids about money is one of the most exciting activities, especially if you understand the basic concepts of money.
Today, most parents wish to help their toddlers and preschoolers understand money concepts, but they don’t know how to achieve that.
Thankfully, many inspirational activities can help you teach your kids about money.
Engaging the kids in fun activities like money games can help them understand all the facts about money, including the difference between a dollar and a dime.
Fun Activities to Teach Your Children About Money
These fun activities will help your kid learn basic financial concepts like saving money, budgeting, and charitable giving.
Let’s get started.
1.Shop Together with Your Kids
Every child would love to go shopping with their parents, and that can be the best chance to teach your kids about money.
As you shop, tell them to compare the prices of different brands of a similar product.
Ask them to identify the cheapest and most expensive ones.
Shopping can only be fun for your children when you keep them active and engaged as you shop.
Let them help you pick some stuff from the shelves.
Also, you can advise them to choose items that fall within a particular range of prices.
2. Watch Money Videos with Your Kids
Many videos on YouTube can help your children learn the basic concepts of money.
Such videos are tailored to fulfill the needs of your kids and are full of fun.
They are also interactive and can keep your kids entertained as they learn.
Most money videos have music and animated characters that teach many financial topics for children aged 7-12.
These videos usually play for less than 10 minutes to hold your kids’ attention span.
The videos are also catchy to help kids grasp the concepts quickly.
If your fridge has alphabet letter magnets plastered on it, it won’t cost you much to add some money magnets.
You can attach an adhesive magnet to different coins and plaster them on the fridge.
That can be a dime, penny, nickel, or a quarter.
Attach two sets of coins, one that displays the fronts and the other set that shows the backs.
When your kid asks for a glass of juice, you may ask him/her to pay for it using a dime.
That will teach them that one needs money to buy items.
4. Play Money Puzzles with Your kids
When you perform a quick search on the internet, you will find many puzzle games that can teach your kids about money.
For instance, you can print some fake bills from the internet, stick them on thin cardboard, and then cut them into pieces to form puzzles.
As your kids play with the puzzles, ask them to join the cut pieces into one whole bill.
You can give them an uncut bill to serve as a guide.
The more they play the game, the more they become conversant with how the bills look.
5. Open a Family Store at Home
Setting up a family store will help you teach kids about spending without borrowing.
When your kids complete some home chores, such as making their beds or keeping toys after playing, you can pay them using play money printed from the internet.
As you pay them, advise them to save the money and use it later to buy items such as snacks and toys from the family shop at home.
That will encourage them to work harder and save more money to purchase items from the store.
Most kids learn the fundamental money concepts from parents, including how to save.
To teach your kids about savings, set a good example by opening an RESP account in a reputable company like Heritage Education Fund to save for their future education.