Thursday, June 19, 2014

Teaching kids about money and economics..

So with the link I posted earlier (see here http://ladybuganddragonflydreams.blogspot.com/2014/06/lessons-on-money.html ) We also are using this..

https://www.clevelandfed.org/learning_center/online_activities/great_minds_think/
It's pretty nice in helping the kids decide what they "want" vs. "need" and what their talents and skills are that they might use to make money. It has some balancing sheets, etc. as well and makes a nice supplement (it's also free, either by download or you can order the booklet like we did). Another website you also might check out is ...
https://www.moneysmart.gov.au/life-events-and-you/families/teaching-your-kids-about-money

Other idea's is letting the kids open up savings accounts and keep track of what they put in, what they take out etc. and setting a budget. See what they are wanting to purchase and let them figure out what they have and what they would need to make the purchase. Lots of ways to incorporate both math and economics into your daily life to help them understand how money, savings, budgeting etc. all work.