This is a demo store. No orders will be fulfilled.

Tagged with 'parents'

Ask An Expert: How To Help Kids Learn About Money

by Erica Sandberg, Consumer Economics Expert and Author of Expecting Money: the Essential Financial Plan for New and Growing Families

Encouraging kids to learn about money is such a great way to help them build important skills like problem solving, critical thinking, and more.

That’s why I was so excited to host a Facebook Live Dollars & Sense session for Learning Resources. Since I didn’t have time to answer all the wonderful questions during the live session, I wanted to take a moment to address a few of them here. Check them out below…

Q: Should you teach kids about investing too? Or is that subject too complex?

A: Absolutely, and you can do so in a really simple and powerful way. Using the play money, have your child hand you a bill. Explain that the longer you have it, the more he or she will get back in return. You can chat a little about risk (like, “don’t just give it to anyone, you have to be confidant the money holder will give it back”) but that’s advanced material.

Q: My kids think everything is 'free' with a credit card—how can I help them understand the value of the things we buy?

A: Good question! All you have to do is make a short statement when you use the card. “I’m borrowing money from the bank to pay for this and I have to pay them back. If I don’t send everything I spent in 30 days, the bank will add on a fee which means extra money out the door—and I don’t want that!”

Q: When is the best time for savings?

A: The best age is three or four because kids are observing you use money. The best time is when you’re actively making deposits at the real ATM. Then they can do it themselves with the toy ATM. Outside of that, grab a box or piggy bank and throw in money together whenever you have spare change.

Q: Do you think young kids should get an allowance?

A: A ‘real” allowance is best for children who are ten and up. Kids ages 3 to 7 are still in the counting and early concept stage. They need to be taught what money is and how it can best be used. A little practice paying for things is smart, though.

Talk about what you’re doing with money in positive ways. “I’m going to work because I like it and the company pays me for what I do. With what I earn, I pay for all kinds of fun and important things!”  It’s a great set up.Then act it out when you’re with your child. Enjoy yourselves. Laugh. Kids love absurdity. Say, “I’m selling this broccoli for a million dollars,” and ask if that makes sense. You will be teaching so many important money skills just by communicating and playing. Have fun with it!

Did you like this post? Let us know at blog@learningresources.com, and don’t forget to check out Erica’s recent post: Dollars and Sense! Teaching Kids Skills That Pay The Bills

 

Learning is Where We Play:

Ask An Expert: How To Help Kids Learn About Money

by Erica Sandberg, Consumer Economics Expert and Author of Expecting Money: the Essential Financial Plan for New and Growing Families

Encouraging kids to learn about money is such a great way to help them build important skills like problem solving, critical thinking, and more.

That’s why I was so excited to host a Facebook Live Dollars & Sense session for Learning Resources. Since I didn’t have time to answer all the wonderful questions during the live session, I wanted to take a moment to address a few of them here. Check them out below…

Q: Should you teach kids about investing too? Or is that subject too complex?

A: Absolutely, and you can do so in a really simple and powerful way. Using the play money, have your child hand you a bill. Explain that the longer you have it, the more he or she will get back in return. You can chat a little about risk (like, “don’t just give it to anyone, you have to be confidant the money holder will give it back”) but that’s advanced material.

Q: My kids think everything is 'free' with a credit card—how can I help them understand the value of the things we buy?

A: Good question! All you have to do is make a short statement when you use the card. “I’m borrowing money from the bank to pay for this and I have to pay them back. If I don’t send everything I spent in 30 days, the bank will add on a fee which means extra money out the door—and I don’t want that!”

Q: When is the best time for savings?

A: The best age is three or four because kids are observing you use money. The best time is when you’re actively making deposits at the real ATM. Then they can do it themselves with the toy ATM. Outside of that, grab a box or piggy bank and throw in money together whenever you have spare change.

Q: Do you think young kids should get an allowance?

A: A ‘real” allowance is best for children who are ten and up. Kids ages 3 to 7 are still in the counting and early concept stage. They need to be taught what money is and how it can best be used. A little practice paying for things is smart, though.

Talk about what you’re doing with money in positive ways. “I’m going to work because I like it and the company pays me for what I do. With what I earn, I pay for all kinds of fun and important things!”  It’s a great set up.Then act it out when you’re with your child. Enjoy yourselves. Laugh. Kids love absurdity. Say, “I’m selling this broccoli for a million dollars,” and ask if that makes sense. You will be teaching so many important money skills just by communicating and playing. Have fun with it!

Did you like this post? Let us know at blog@learningresources.com, and don’t forget to check out Erica’s recent post: Dollars and Sense! Teaching Kids Skills That Pay The Bills

 

Learning is Where We Play:

READ MORE

5 Ways Allowances Prepare Kids for Life

By Meghan, from Playground Parkbench
 
Raising children is no easy task. It’s our job as parents and teachers to prepare them to be successful, independent adults… and we only have a handful of years to do it!
 
One of the best ways to prepare kids for the future is by exposing them to real world experiences while they are still under the safety of your care. Giving kids an allowance provides an amazing real world, hands-on learning experience and platform for you to teach them about money.
 
teaching kids about allowances 

Talk about money

While your kids do not need to know the details of your family money struggles, or how much your annual salary was last year, it is important that they understand the things they want have a monetary cost.
 
If your child can count, they are old enough to understand the difference in value between a matchbox car and a Power Wheels. It is also perfectly acceptable to respond to requests for toys or activities with an explanation of how much something costs.
 
Present them with choices based on cost comparisons. As an example, “Summer camps are expensive – we can only afford one week of camp. Which camp do you want to choose?” Once they start earning an allowance, you have an even more tangible way to talk about money.

Teach the value of a dollar

There is basic money math associated with the value of a dollar.  There are countless ways to teach money to kids, but nothing is as effective as putting money they earn in their hands and allowing them to make their own purchase decisions. If their allowance is $2 per week, suddenly the new LEGO set costs them 10 weeks of allowance.
 
learning about allowances

Instill work ethic

While it is important to convey money carries value, it is even more important to instill a strong work ethic at an early age. We all work to earn money and contribute to our families, and they should too. An allowance should not be a weekly guarantee – link it to a clearly defined set of expectations.
 
Set up a system that works for your family. You can assign specific age appropriate chores to your kids linked to their weekly allowance. Or make a list of tasks each assigned a monetary value that your kids can work to collect each week. Either way, make it clear that money is earned.

Setting goals and saving

There is no more rewarding feeling achieving your goals. Once you give allowance to kids, you can start meeting asks with, “That’s something you can save your allowance to buy.”
 
This reinforces the first three points above, while also gives them a goal and teaches the importance of saving. Remind them when they want to spend $1 here or there, they are working towards something bigger.
 
Want to give them a real world finance lesson? Tell them you’ll match their savings or pay them interest to help them achieve their money goals over time. You can use Learning Resource ATM to set up a bank, complete with personal ATM card. Let them deposit their earnings, track their balance and enter their withdrawals.

Give back

No discussion of money with kids is complete without talking about giving back. Whether you participate in a fundraiser for your school, or make monetary donations in your broader community, giving back is an important reminder for all of us, that no matter our challenges, there is always someone who has it even tougher. If we all give a little, we can help a lot.
 
how to teach children about allowances

Apply this in the classroom!

You can apply these same lessons with students in a classroom setting. Set classroom goals to earn and save for. The Learning Resources Teaching ATM Bankrecognizes both real and fake coins, and use either to track your progress.
 
Did your parents give allowance when you were growing up? How do you teach your kids about money? Let us know at blog@learningresources.com, and if you enjoyed this post, check out these money-themed printables!
 
 
Learning is Where We Play:

 

The True Value of a Toy

STEM for Preschoolers: Lava Learning Lamp Experiment

5 Ways Allowances Prepare Kids for Life
By Meghan, from Playground Parkbench
 
Raising children is no easy task. It’s our job as parents and teachers to prepare them to be successful, independent adults… and we only have a handful of years to do it!
 
One of the best ways to prepare kids for the future is by exposing them to real world experiences while they are still under the safety of your care. Giving kids an allowance provides an amazing real world, hands-on learning experience and platform for you to teach them about money.
 
teaching kids about allowances 

Talk about money

While your kids do not need to know the details of your family money struggles, or how much your annual salary was last year, it is important that they understand the things they want have a monetary cost.
 
If your child can count, they are old enough to understand the difference in value between a matchbox car and a Power Wheels. It is also perfectly acceptable to respond to requests for toys or activities with an explanation of how much something costs.
 
Present them with choices based on cost comparisons. As an example, “Summer camps are expensive – we can only afford one week of camp. Which camp do you want to choose?” Once they start earning an allowance, you have an even more tangible way to talk about money.

Teach the value of a dollar

There is basic money math associated with the value of a dollar.  There are countless ways to teach money to kids, but nothing is as effective as putting money they earn in their hands and allowing them to make their own purchase decisions. If their allowance is $2 per week, suddenly the new LEGO set costs them 10 weeks of allowance.
 
learning about allowances

Instill work ethic

While it is important to convey money carries value, it is even more important to instill a strong work ethic at an early age. We all work to earn money and contribute to our families, and they should too. An allowance should not be a weekly guarantee – link it to a clearly defined set of expectations.
 
Set up a system that works for your family. You can assign specific age appropriate chores to your kids linked to their weekly allowance. Or make a list of tasks each assigned a monetary value that your kids can work to collect each week. Either way, make it clear that money is earned.

Setting goals and saving

There is no more rewarding feeling achieving your goals. Once you give allowance to kids, you can start meeting asks with, “That’s something you can save your allowance to buy.”
 
This reinforces the first three points above, while also gives them a goal and teaches the importance of saving. Remind them when they want to spend $1 here or there, they are working towards something bigger.
 
Want to give them a real world finance lesson? Tell them you’ll match their savings or pay them interest to help them achieve their money goals over time. You can use Learning Resource ATM to set up a bank, complete with personal ATM card. Let them deposit their earnings, track their balance and enter their withdrawals.

Give back

No discussion of money with kids is complete without talking about giving back. Whether you participate in a fundraiser for your school, or make monetary donations in your broader community, giving back is an important reminder for all of us, that no matter our challenges, there is always someone who has it even tougher. If we all give a little, we can help a lot.
 
how to teach children about allowances

Apply this in the classroom!

You can apply these same lessons with students in a classroom setting. Set classroom goals to earn and save for. The Learning Resources Teaching ATM Bankrecognizes both real and fake coins, and use either to track your progress.
 
Did your parents give allowance when you were growing up? How do you teach your kids about money? Let us know at blog@learningresources.com, and if you enjoyed this post, check out these money-themed printables!
 
 
Learning is Where We Play:

 

The True Value of a Toy

STEM for Preschoolers: Lava Learning Lamp Experiment

READ MORE

6 Ways to Support Autism Awareness Month

April is Autism Awareness Month, a time to celebrate inclusion and acceptance of those with autism. One in 68 U.S. children has an autism spectrum disorder, according to the Centers for Disease Control. On the site Autism Speaks, they define “spectrum” as the wide variation in challenges and strengths possessed by each person with autism.

Here are 6 easy, fun ways we (adults and kids) can help these kids and families feel understood and welcome in our lives.

1. Start with a story

An engaging storybook can help kids feel empathy with all kinds of characters, including those with autism. Some great titles include My Brother Charlie, written by actress Holly Robinson Peete and her daughter Ryan Elizabeth Peete. In the book, we learn about 10-year-old Charlie, and his autism, through the eyes of his loving sister. A Friend Like Simon, by Kate Gaynot, follows the story of kids in a mainstream school befriending a new student with autism. Different Like Me, by Jennifer Elder, is about an 8-year-old boy with Asperger’s, who introduces young readers to his heroes in math, science and history.

 

2. Show your support

You and your kids can join tens of thousands of people around the world wearing bright royal blue on World Autism Awareness Day next year. It’s a simple way to promote awareness of the millions of individuals and families affected by autism. Then show your support to all your friends on social media by sharing your photos with the hashtag #LightItUpBlue.

3. Crafty ideas

Did you know that the symbol of autism is a puzzle piece? It’s easy to explain to your children that just like each puzzle piece is different, each person is different, including kids with autism. And that’s a good thing!

Celebrate this message with crafts using an old jigsaw puzzle you no longer use. Your kids can paint pieces solid colors, then glue them to card stock in creative designs. Add a positive message inside each card, and give to someone you know affected by autism, including caregivers. Older kids can glue 4 or 5 painted puzzle pieces together and add a bar pin on back (available at craft stores) to make a wearable piece of art that shows support. It can also be a great conversation starter!

4. Make a play date

Would a child who might be sensitive to loud noises really want to have a play date? It’s easy to assume the answer is no, but that may not be the case. Why not approach the parent of an autistic child you know and ask them?

Kids with autism can have challenges, but also great gifts as well, like knowing lots about dinosaurs, insects, math, etc. Try to find a common interest with your child beforehand and plan an activity or two around it. It can be as simple as giving both children new sticker books featuring those beloved dinosaurs or insects. Or, it might mean providing a building set both kids can use together.

5. Remember sisters and brothers

The siblings of a child with autism can sometimes miss out on everyday outings we take for granted. Since many children with autism dislike bright lights, loud noises, and strange surrounds, families with an autistic child may stick close to home. If you’re planning a trip to an amusement park, circus, or even a big mall, invite one of these siblings to join you. Your outing could be just the break they need!

6. Just connect

Simply showing that you’re open and interested is a great step toward making a family affected by autism feel more accepted. You might discuss if they are planning to participate in any local Autism Month events and ask how you can get involved. It could be something as simple as baking puzzle-shaped cookies for a fundraiser or participating in a walk. When we practice empathy and appreciation for differences, everyone benefits!

What are you doing to celebrate Autism Awareness Month? Let us know at blog@learningresources.com!

6 Ways to Support Autism Awareness Month

April is Autism Awareness Month, a time to celebrate inclusion and acceptance of those with autism. One in 68 U.S. children has an autism spectrum disorder, according to the Centers for Disease Control. On the site Autism Speaks, they define “spectrum” as the wide variation in challenges and strengths possessed by each person with autism.

Here are 6 easy, fun ways we (adults and kids) can help these kids and families feel understood and welcome in our lives.

1. Start with a story

An engaging storybook can help kids feel empathy with all kinds of characters, including those with autism. Some great titles include My Brother Charlie, written by actress Holly Robinson Peete and her daughter Ryan Elizabeth Peete. In the book, we learn about 10-year-old Charlie, and his autism, through the eyes of his loving sister. A Friend Like Simon, by Kate Gaynot, follows the story of kids in a mainstream school befriending a new student with autism. Different Like Me, by Jennifer Elder, is about an 8-year-old boy with Asperger’s, who introduces young readers to his heroes in math, science and history.

 

2. Show your support

You and your kids can join tens of thousands of people around the world wearing bright royal blue on World Autism Awareness Day next year. It’s a simple way to promote awareness of the millions of individuals and families affected by autism. Then show your support to all your friends on social media by sharing your photos with the hashtag #LightItUpBlue.

3. Crafty ideas

Did you know that the symbol of autism is a puzzle piece? It’s easy to explain to your children that just like each puzzle piece is different, each person is different, including kids with autism. And that’s a good thing!

Celebrate this message with crafts using an old jigsaw puzzle you no longer use. Your kids can paint pieces solid colors, then glue them to card stock in creative designs. Add a positive message inside each card, and give to someone you know affected by autism, including caregivers. Older kids can glue 4 or 5 painted puzzle pieces together and add a bar pin on back (available at craft stores) to make a wearable piece of art that shows support. It can also be a great conversation starter!

4. Make a play date

Would a child who might be sensitive to loud noises really want to have a play date? It’s easy to assume the answer is no, but that may not be the case. Why not approach the parent of an autistic child you know and ask them?

Kids with autism can have challenges, but also great gifts as well, like knowing lots about dinosaurs, insects, math, etc. Try to find a common interest with your child beforehand and plan an activity or two around it. It can be as simple as giving both children new sticker books featuring those beloved dinosaurs or insects. Or, it might mean providing a building set both kids can use together.

5. Remember sisters and brothers

The siblings of a child with autism can sometimes miss out on everyday outings we take for granted. Since many children with autism dislike bright lights, loud noises, and strange surrounds, families with an autistic child may stick close to home. If you’re planning a trip to an amusement park, circus, or even a big mall, invite one of these siblings to join you. Your outing could be just the break they need!

6. Just connect

Simply showing that you’re open and interested is a great step toward making a family affected by autism feel more accepted. You might discuss if they are planning to participate in any local Autism Month events and ask how you can get involved. It could be something as simple as baking puzzle-shaped cookies for a fundraiser or participating in a walk. When we practice empathy and appreciation for differences, everyone benefits!

What are you doing to celebrate Autism Awareness Month? Let us know at blog@learningresources.com!

READ MORE