Posted by Larry Hurt

Inspirational and Funny Ways to Teach Kids About Money

Inspirational and Funny Ways to Teach Kids About Money

1. Calculator

Hand them a calculator while out for shopping. It will enable them to key in the item value and give you current information on the number of things selected. Make comments on some of the items so they can be aware of the cheap and expensive items. 

2. Allowances

 Give allowances for a few weeks, different amounts for different age groups. Make it clear to them that they will not get any other money until the stipulated date, and that they are in charge of the money given to them. Begin with different amount and ensure you start small and observe their spending pattern. Observe what they spend it on, if they spend it on junk food, toys, books, etc. as well as how they spend it. If they spend it at a goal or gradually. With the information gathered from this observation, you could ascertain which area of the child’s life needs to more attention

3. Shopping

Take your kids out with you for shopping and asked them to note the different prices of the same item type. It will help get them aware of how quality, branding, discount, etc. work. You could ask them to give you the reason why they think the prices are different. It helps them to get aware of the cost of the product. 

4. Challenges

Set up challenges for them individually or a group to make some purchase and see who comes back with the most money. You will also take note of the value of the items they purchased, to be more accountable and understand the concept of shopping. 

5. Coin Game

Start a coin game that requires them to ascertain how many small coins will give one bigger one. The smaller kids may need a reminder chart which can be drawn. By this, they will understand that it is not all about the number of coins but the value of each currency.

6. Observe transactions

Ask them to take note of the way you pay something and how operations are carried out either through card transaction card or cheque. Teach them to understand that money is a legal tender, a medium of exchange for goods and services.

 7. Banking Experience

Take them out with you to the bank and let them see how things occur in the banking hall. Explain to them where the money goes. Kids are known to love stories and a bank and show them how it works. Kids love mystery and stories. 

8. Take your kids to an ATM

Kids are surprised how a machine gives you the amount you request from it. They consider it to be magic. Then explain to them that money comes by saving or a loan and that the amount at every withdrawal

9. Brainstorming

 Assign them to think of ways to make money with little money given to them. Despite how whacky the idea may sound, they are thinking, and it is good. Demand from them ways to save more money and get more money. They might come out with a brilliant idea. 

10. Observation Field Trip

Take them out to a commercial area and ask them to observe the ways different people spend money and the items they are buying. Ask them to see how payments are made. 

11. Online job chart

Assign them jobs at home and attach a monetary value to a different task. Observe how well they task are carried out and their commitment level to the task. From this, they would learn that responsibility is crucial in society But ensure that some functions are done as a result of responsibility at home. 

12. Bingo

Set up money bingo that requires to work out how many coins equate a number on a box and who get it right the most wins. For this to function correctly, they will need to add up the exact amount of coins and stack them on each number. 

13. Coin Groupings

Assemble all small coins and ask kids to place them into the same groups. Ask them to note the number of currency in each group.  Get them involved in trades to try to get lots of coin mixes of different currencies going. The trades have to be equal monetary value.

14. Allocation Jars

Give kids three jars with instruction to label and decorate them as they desire. The pots should be labeled Spend, Save, and Give. You could determine the amount in each jar. Discuss with them what each jar represent according to the label on each. Kids are known to love to see things grow. You will see them take the monies out, count them, and return them. Seeing the money will increase their awareness of money and how it is spent. 

Larry Hurt
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