Many of us remember saving coins in the piggy and opening the seal soon after the mini bank is full (sometimes even before it gets full). It’s a thrill to count money and then go buy a new toy! This is our very first learning about money as kids.
But as we grew, we have seen financials becoming complicated and it was never easy to meet diversifying needs. So, even more, deeper learning about financial problems and better money-management skills are to be developed from an early age.
The earlier, we learn to manage money, the easier it gets to manage personal finances in the future. Start preparing your kid from today and help him deliver better results and establish stable financial life in the future. Below are some simple money-themed activities to help your kids get familiar with money management.
1. Count And Add:
Hand over a mixture of coins to your kid, include some 1 rupee coins, 2 rupee coins, 5 and 10 rupee coins too. Let him count and note down the total number of coins, separately, on a piece of paper. Ask him to sum them up. In simple, the task is to separate the coins, count them and sum up.
This activity helps your kid improve math skills and also learn about values of different coins. Help him understand that the value of five 10 rupee coins is more than ten 1 rupee coins.
2. Piggies For Different Savings:
Make different piggies with used cartons or cans and separate them based on the purpose of saving. Let your kid save up for a special trip or for a favorite item. Ask him to identify the coin, if he gets it right, let him feed the animal, else help him identify and keep it for next day’s use.
The activity helps your kid identify the value of different coins, importance of saving separately to achieve several purposes simultaneously.
3. Stick To Your Budget:
Kids love grocery shopping if it involves a game or a prize. Set some amount aside, before you leave to the nearby grocery store. Say INR 200 is allocated, within which all the necessary items are to be bought. As you move into the store, keep adding the listed items into the cart. Ask your kid to tick the picked one in the list. Let him jot down the price beside the item. After adding all the items, into the cart, let him sum up.
If you are crossing your budget, check for the items which are not on urgency and delete the same from the cart. This helps kids prioritize and differentiate between necessities and desires.
If all of the items are necessities, and none could be deleted, ask him to jot down the prices of each bought item. Let him find out the most expensive and least expensive items. Help him understand the patterns seen in pricing. It helps gradually realize how estimating and rounding helps while shopping. Reward your kid with a prize for the job well-done!
All the above activities surely teach valuable money management skills as kids. Here are more educational board games to conquer the boredom and allow to continue learning about money.
Remember, kids also love imitating parents. So, ensure that you become a role model when it comes to dealing with money. Have a complete financial planning in place and move ahead in securing your future.