These simple activities teach: Children about financial principles Basics, including charitable giving, delayed gratification, budgeting, andSaving Money . And the investment
We don't have to tell you it's important. Teaching your children skills Basic finances. The big obstacle is how to do it. Unlike helping a child learn Bike riding Whether it's making a peanut butter and jelly sandwich, talking about money isn't second (or even third) for most of us. In fact, surveys show that parents feel more comfortable discussing smoking or drugs. Why? Many adults don't believe they know enough about managing money themselves. Yet research shows that parents are the number one influence on a child's financial behavior.
This is part of the reason why I wrote my latest book, “Make Your Child an Art Leader.” المال(Even if you aren't.) I've been an advocate and author for financial literacy for 30 years, even serving on President Obama's Advisory Council on Financial Capability. There, I delve into all the latest research and begin to conceptualize easy, integrated strategies to help kids learn the financial realities of life. Here are some of my favorites.
May be habits The most important financial activity is giving, so here's a way to give your child an incentive to be charitable—a concept they can understand by age 4. Start by talking to your child about why we all need to give money, and how a few dollars can make a big difference to someone in need.
Then announce your matching offer.: You'll contribute a quarter of your own wealth. Research together organizations known for using small amounts of money to do big things for a bigger impact. For example, try Heifer International, a nonprofit that donates farm animals and supplies around the world. Your child could purchase a flock of chickens to help support a family for as little as $20, for example. Or you can donate locally: make a donation to a nearby animal shelter, or to help pay for medical costs for someone in your community who is sick.
Butterfly Effect
Of all Financial skills The most valuable lesson you can teach 4- and 5-year-olds is delayed gratification, which may be the most important. It's Basic skill What adults need to practice smart spending, And savings , and long-term investment.
For children, there's no more magical way to develop the necessary patience than with an affordable butterfly equation. It takes a little planning to set it up, and then you have to wait about a month for the caterpillars to become kings and flutter about like royalty—an eternity for a child that age.
Along the way, your child will have to perform simple tasks—stocking the box with fresh food, keeping the area moist, and cleaning the sprinkler (that cat poop, for starters). To mark each developmental milestone, agree to put a dollar in a jar so your child can watch their savings grow alongside their future butterfly.
Approaches
Nothing motivates kids (or adults) to learn quite like budgeting! This activity teaches kids ages 6 and up how to create and implement a budget—skills that will be valuable later in life.
First, visit your local bakery and price a whole pie (التفاح (Berry, peach, whatever). Now, the challenge: Can he bake the same recipe for less? Armed with the recipe, head to the grocery store to ask about each ingredient. If the total comes in at the bakery price, get cooking. If not, you'll have to comparison shop to see if he can find a less expensive vanilla extract, until you come up with a way to do it for less.
Start by giving your child a penny. After each day, give him an incentive equal to the amount he already has: On the second day, give him another penny, bringing the total to two cents. On the third day, give him two more. Stop on day 11 unless you're willing to part with serious cash. By then, that amount will have increased to $10.24.
