Note from The Thrifty Couple:
Holly from education.com has shared a fun idea with us to help teach your children about money and spending habits. It is a fun activity that can also help to open the lines of communication about money and to begin or continue the conversations about wise spending. Read the activity idea that Holly shares and enjoy this activity with your kids! We love the story aspect of sharing their daily spending story and the math skills they will gain for practical life skills too.
Guest post by Holly:
Do you provide your kids with an allowance? Perhaps you’re hesitant to do so, or maybe you provide them with small amounts of spending money for certain occasions. With this activity, you can help your children exercise their money math skills by working through a spending scenario! It capitalizes on children’s natural affection for money, gained by seeing adults buy items and services all around them. It also challenges your children to write a story about how and on what they will spend their money. Now, let’s get their imaginations going!
What you need:
- Circulars, or store advertisements found in most Sunday edition newspapers, or online websites
- Notebook paper
- White copying paper
- Crayons or markers
What you do:
1. Tell your child you are giving her a pretend $20.00 to spend. Hand out the circulars and explain the rules.
2. Your child must spend exactly $20.00. She must buy at least ten different items, and each item must cost a different amount.
3. Finally, your child must write a story about her day spending the money. For example, in her story she may go to the mall, visit different stores, and “purchase” the items using the prices from the circulars.
4. If your child is artistic, she can use the white copying paper and draw pictures to include in her story.
You can make the activity more or less challenging by adjusting the amount of money to be spent and the number of items to be purchased. Don’t have access to circulars? No problem. Ask your child to make a wish list of ten items she would like to buy then help her estimate how much each item would cost, or go on an online shopping spree.
Happy spending and happy money discussions!
Have you tried a fun spending game and story with your kids? Give it a whirl!