As parents, we understand the importance of literacy. We sit for hours reading with our children. However, children must be “literate” about money too.
Learning how to think about money and manage it wisely is an equally important life skill. We must patiently help our kids “sound out” the many ways to control money. Our kids will learn by doing. Some lessons will be thrilling. Others will be frustrating, even painful.
In the end, we hope that our children will grow into financially responsible adults. The rewards are life-altering: living within their means, free from the anxieties of debt, and secure in their future.
Tricks for saving:
Use four little banks. Label each bank with the way you’ll use the money:
A spending bank for money to be used soon on everyday things.
A saving bank for money to be used later on larger items.
An investing bank for money that will be used several years from now.
A giving bank for gifts to help others.
Decorate each bank with stickers, photographs, cut-outs from magazines – or your own drawings. The pictures show how the money will be used. For example, if your SAVE bank holds money for a new bike, that’s the picture you tape to that bank. Show off the banks in your room! They keep track of your money: the money you have saved. *
To learn more about the Importance of Saving, Spending and Sharing, please register today for children in grades 2-6. Give your child a head start in smart money management. Saving, banking, cost comparison concepts and charitable giving will be explored through fun lessons and crafts. Please call the Children’s & Parents’ Services at 631 654-4700 ext 261 or register on line.
Monday, Tuesday & Wednesday April 20, 21 & 22 from 6-7 pm.
* For more information, please check out Parent – Parents and kids and money – TheMint.org
Fun for Kids – 5 Simple Saving Tricks – TheMint.org