Kids have worked hard all year and are looking forward to the long-awaited summer break. Teaching the three S’s helps solidify the importance of saving and budgeting, starting them on a positive financial path that will continue into adulthood.
Kids have worked hard all year and are looking forward to the long-awaited summer break. They probably have all kinds of fun ideas for what they want to do — movies, amusement parks, spending the day at the mall with their friends — but all of that costs money.
It’s never too early to teach your children about the importance of earning and responsibly managing their money. Summertime is a great opportunity to help your kids turn downtime into dollars and teach them how to effectively manage those funds.
Have a yard sale
This is a wonderful way for your kids to earn some cash while having fun. Have them pitch in by getting rid of any old clothes, toys and games that they no longer use. You can even help them keep their math skills in check over the summer by having them manage the cash.
Not only does a yard sale help them declutter, but it can also help them learn lessons like fair pricing and negotiating. This also offers the opportunity to spend some quality time with your kids in the kitchen. Baking is a wonderful activity to do together. Then, the items can be packaged for sale with a nice glass of cold lemonade.
