The Great Savings Race

ObjectiveCreate a fun competition around saving up money.
Description Kids Saving

Use a little sibling competition to teach your kids about saving money.

Steps:

1. Talk to your kids about saving money. Why do you save up money? Are there things that your kids would like to save money for? Discuss.

2. Get one mason jar for each child participating and label it with their name.

2. Give your kids a time limit (one week - a month) and then issue the challenge. Whoever can save up the most money by the deadline wins. You may want to create a prize and let them know that even if they don't win they get to keep the money that they save up. Possible prizes include buying the item that they saved for, they can choose the food for takeout night, choose the movie for movie night, choose a family activity etc.

3. Keep track of their saving progress and encourage their progress.

4. When the time is up take the two savings jars and count the money, give the prize to the person in first place and give the money saved up to the child in second place.

Variations:

- You might want to help your kids with ideas for making money that they can put in their saving jars. Some ideas could include starting a business, finding loose change, returning bottles, shoveling/sweeping neighbors driveways, walking dogs, babysitting, doing extra chores etc.

- You could encourage your children to invest the money that they saved into a business. This could make the money that they worked so hard to save - grow!

- You could make this an annual event and keep track of kids' savings records from previous years. This gives kids the opportunity to think and plan how they will save more money this year as opposed to last year!

 

Complete When

Mark this activity as complete when your kids have done one savings race.

Track your progress and earn badges!

This activity is included in the following:

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Age Range 6    7    8    9    10    11    12   
Activity Type Game
Tags Saving 
CreatedCindyCindy
Last ModifiedRobRob

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