Help your kids set up a play grocery store by providing some empty cereal boxes and other food packages, play money, Post-It notes for price tags, and some recycled grocery bags. Let kids be in charge of setting up and running the store—you’ll be amazed at how much they learn as they play.
Tip of the Day April 7
How much allowance should kids get? According to Janet Bodnar, editor of Kiplinger’s Personal Finance, “Enough so that your children can squander it, but not so much that you’ll be upset when they do.”
Tip of the Day April 6
Engage your kids’ help in clipping coupons. Every now and then, let them redeem a coupon at the cash register and allow them to keep the cash they saved.
Tip of the Day April 5
Before a new school year begins, give teens a fixed amount of money for clothing and supplies and allow them to do the shopping. Living within a budget will challenge them to make tough decisions.
Tip of the Day April 4
Teach your kids that an ATM is more than a “magic money machine”. Explain that you put money that you earned into the bank earlier—the ATM just gives you some back when you need it.
Tip of the Day April 3
Have children do routine chores without pay, such as loading the dishwasher or putting toys away, but allow them to earn some extra cash for chores that are “above and beyond”, like cleaning the garage or washing windows.
Tip of the Day April 2
According to the Autism Society of America, more children will be diagnosed with autism this year than AIDS, diabetes, and cancer combined. This month, participate in an Autism Walk or other fundraisers in your community that are devoted to supporting autism awareness and research.
Tip of the Day April 1
Children learn a lot about money by watching how we shop. Do you shop at garage sales or department stores? Are you more loyal to name brands or store brands? What do you put in the cart and what do you say “no” to?
Tip of the Day March 31
Manage your emotions. Our emotional reactions sometimes send signals we don’t intend: fear and worry can look an awful lot like anger, for instance. Take a cooling down period if you need one, and don’t be afraid to say so: I’m a little too upset to talk about this right now, let’s have this conversation in the morning when I drive you to school.