Fun Ways to Teach Children About Money

Money can’t buy happiness, but managing money properly can save us from a lot of stress! It’s important for all ages to learn money management skills. Ormond Beach private schools understand that teaching young children to be financially responsible gives them a foundation to become smart, responsible adults. Here are a few fun ways that you can teach these core concepts.

Patience

Patience can be difficult, especially for young children. When they get money, they may be tempted to spend it right away! A fun way to teach your child about patience and delayed gratification is by making a butterfly hatchery. It takes time to set up the hatchery and maintain it, and then your child will wait for the caterpillars to become butterflies. You can have a small “savings” account to go with your hatchery by putting a dollar into a jar during each caterpillar development stage. Another option is to add a quarter for each day that you wait for butterflies to emerge. Make sure not to take anything out of the jar until you have butterflies!

Interest

One of the most important monetary concepts is interest. Money grows over time if we leave it alone. Teach your child this by giving him a penny to start, then add 100% interest to his current amount each day. After 10 days, take some time to discuss how much a simple penny has grown over time through interest!

Donation

We’ve saved money and seen it grow over time. Now what? Where we put our money can have a huge impact on the lives of others. After your children have saved a bit of money, encourage them to donate some to a cause they’re interested in. This will help them see how they easily have the power to make a difference for someone else.

Ormond Beach private schools are part of a vibrant community that provides a safe, nurturing environment for students to grow in their faith and explore their talents. We are dedicated to academic excellence and challenge students to creative, critical, and compassionate leaders. To learn more about what makes us different, contact us today.