In a society comprised of swipers, it is more important than ever to make sure kids develop solid money skills as early as possible. Kids in grades K-12 can use math, learn to set goals and develop a responsible fiscal sense by using money. There are a few touchpoints along the way that make the process fun and stick!
First, help younger children learn the value of each of our coins and bills. Then they can practice adding and subtracting when buying items and giving change while playing “store.”
Second, give kids of all ages an allowance each week, and ask them how much that would amount to per day (division). Ask the reverse by stating they will be earning “X” amount of money a day. What would be the total in a week or a month? (multiplication)
Next, they can create a goal for themselves by deciding what they would like to purchase and finding out its cost, and then work to earn the money. Have them count the money earned daily (addition) and then subtract the total from the cost of the item (subtraction). Ask older kids who have part-time jobs to average the amount of money they earn a week and to estimate how long it will take them to earn the money they need. Finally, have your children calculate and save 10 percent of the money they earn each week.
More mature students will appreciate budgeting and saving along with the opportunity cost that comes when money choices need to be made.
(858) 291-8186
(858) 291-8186
