How it works:
Teaching finance to young children:
Finance can get a daunting topic to discuss with your children, but there are ways you can make it fun and enjoyable!
- Count and learn about money; starting with coins
- Talk about wants vs. needs; I believe knowing the difference between wants and needs is the bases of a lifetime of good finance habits
- Play pretend store
- Be a good role model. Even if you don’t think you have all of the answers, talking about the money decisions you make can have a positive impact. For ex, talk about why you choose certain brands or items at the grocery store.
- Have your child read the price of items at the store (either just recognize the numbers or read the whole price, depending on their development level).
- Pay with cash. It is hard for children to see money being exchanged when a credit card it used. For small purchases, pay with cash and have your child help count out the money.
- Allowance: giving your child an allowance is a great way to start helping them learn how to use and manage their own money.
How to do:
Different sized pumpkins
Pumpkin Store Printable
Purchase a variety of different sized pumpkins.
Use the Pumpkin Store Printable to record weights and add different pricing to each pumpkin.
Set up a store with your pumpkins and print out the Money Template.
Have your child practice weighing the pumpkins and paying for them.
“Fall Pumpkins” by Martha E.H. Rustad is a colorful book describing how pumpkins grow, all the way from a seed to making a jack-o-lantern. It even includes a roasted pumpkin seed recipe at the end!