|Objective||To help your children decide when they should spend their money and when they should save.|
Teach your kids to find the balance between spending and saving during a trip to a dollar store.
1. Go to a dollar store with your children and give them a small amount of money ($2-$5).
2. Tell your children they can save the money, take it home and put it in their piggy bank (or deposit into their Bankaroo account), or they can spend the money on something in the store.
3. If your kids choose to save their money, go home and have them add up the total amount of money that they have saved. Then ask them the following:
4. If they decide to spend their money have them estimate the taxes on the item and then mentally (or if you have a piece of paper they could write it down) subtract the cost of the item from the amount of money that they have. Ask your children the following:
Your goal is to help your child achieve a balance between saving and spending their money. If your child has the tendency to save, then encourage him/her to set a savings goal and spend the money at an appropriate time. If your child has the tendency to spend all his/her money, then encourage him/her to save up money occasionally and watch to make sure that your child is not spending beyond his/her means.
Mark this activity as complete when your child demonstrates a good understanding of the balance between spending and saving.
Track your progress and earn badges!
This activity is included in the following:
Ed's Bank Game|
|Average Rating||No one has rated this activity yet!|
|Age Range||5 6 7 8|
|Activity Type||Field Trip|
|Tags||Logical-Mathematical Intelligence Problem Solving Money Saving|