Summer Money Lessons for All Ages | Cleveland Bradley County Teachers Federal Credit

School’s out for summer! Time to let the kids sleep in, run through the neighborhood until they are exhausted, and eat more popsicles than humanly possible, right? Of course… that’s after they make their beds and get a little focused educational time.

Even if that sounds, in the words of your children, “totally lame,” you can still find a few ways to work in some life lessons without the kids putting up a huge fight and without becoming another school teacher for them to ignore.

Take this summer as an opportunity to give your children some solid life skills that will help them at every age—and maybe even help you save a little bit of money in your family budget as they come to better understand that the only green stuff that grows on trees is leaves.

Start By Saving

When it comes to any kind of money lesson, the most logical place to start is how to save it. This is a struggle at every age, and the earlier you can instill some good habits in your children, the easier the rest of their days will be.

Regardless of your children’s ages, there are plenty of activities you can engage your entire family in to better understand just how easy putting away money can be.

If your kids are elementary school-aged, create a piggy bank system. You can give each child his or her own, or use a clear jar the whole family can contribute to. Encourage them to add to the jar every day, and make sure they note the difference in how the jar looks when bills are put in versus coins. This is a great visual aid to help kids see and feel the difference between saving a lot and a little.

For older kids and teens, take them grocery shopping. Challenge them to purchase items for a specific meal with a preset budget. This can help them see how much every meal they sit down to eat costs, as well as helping them understand the importance of checking for sales items in order to make money stretch as far as possible.

If you have a child bound for the halls of higher education at the end of the summer, take more time teaching how to budget and set up a bank account in his or her name. College students are faced with multiple financial challenges and are often expected to make big decisions without the constant resources of their parents. It’s crucial to ensure they have solid financial foundations in order to prevent them from making unwise choices.

Focus on Value

The lesson of saving money and the value of money do not always go hand in hand when you are dealing with children who are by nature more material focused. Children naturally desire possessions, and even saving money can simply be a means to an end—a way to get what they want.

Saving for a particular item or destination is never a bad thing, but be sure to include lessons on the true value of money while you work with your kiddos. Instead of giving the instant satisfaction of buying a new toy, show your kids comparative items and talk about why they are different prices. Lay out small items that would be the same cost as large ones so that your children can visually see how far their money can go.

The earlier you are able to work with your kids on money, the more financially healthy your entire household will be. Give your kids the lessons that will make a difference their whole life.

Want to secure your financial future and establish your children’s as well? Contact us to get started.