Activity ideas:
- Give each of your kids two money jars: One for savings and one for spending. Each time they receive money (e.g., as a gift, for allowance, for walking the neighbor’s dog), talk to them about how theywish to split the money between savings and spending.
- Have your kids make a list or create a collage from magazine photos of five to 10 things they’d like to purchase. Then, go through each item with them and mark whether it’s a want or a need (e.g., a new toy is a want, while a new backpack is a need.)
3. How to differentiate between price and value
So many of us fall prey to brand name companies selling us things at a premium when there is a comparable product for less (it’s just not Name Brand).
The idea behind this lesson is to help kids understand the different ways advertisers get us to buy their services or products, as well as how to tell what is and what isn’t worth paying for.
Activity ideas:
- Make a list of items you need at the supermarket, and then check flyers, newspapers, and websites with your kids for items on the list that may be on sale. Compare those prices and see which store offers the best deal for a specific product.
- Pick up a magazine with your kids and choose an ad to evaluate. Ask them: What’s being sold? What message is the ad trying to get across? What catches their attention in the ad? How does the ad make them feel? How is it trying to persuade them to buy the product?
4. How to make good decisions
