3 Activities to Teach Your Kids Good Financial Habits + Giveaway

It’s never too early to start teaching your kids good financial habits. If you start when they are young and lead by example, they will eventually learn how to be financially independent adults — an important skill that everyone needs to have!

My husband and I try to find everyday, real-life opportunities to teach our kids the value of money and how to make responsible financial decisions. We have found that they learn best when we do activities that they can relate to and make connections with. We recently partnered with T. Rowe Price to share a few of these activities with you.

3 Activities to Teach Your Kids Good Financial Habits

I think you will find that these activities are easy, fun, and most importantly, teach valuable financial skills. I encourage you to check them out and complete at least one of them with your kids!

Activity One

Create a Budget

Sit down as a family and create a budget for an upcoming expense, such as back-to-school shopping. Using your budget as a guide, give each child a specific amount of money. Help your kids prioritize their spending by using a budget spreadsheet, like this Back-to-School Budget Worksheet that my son filled out before we went shopping. Talk about needs versus wants and then decide where the money should be spent.

Activity Two

Start Saving with Piggy Banks

Provide each child a piggy bank and then talk to them about why it’s important to save money. Discuss how to save for specific financial goals and the trade-offs that come with saving versus spending. Label each piggy bank with one of your child’s savings goals to motivate and inspire your child to save for that specific goal. (Just make sure you use something non-permanent like dry erase markers so that you can change the goals over time).

Activity Three

Compare Eating Out vs Cooking at Home

Cook your kids’ favorite dinner at home and keep track of the approximate cost with them. Then use an online menu to calculate how much it would have cost to dine out. Talk about how much money your family could save over time by eating at home instead of eating out.

To view more great activities like these, make sure you check out MoneyConfidentKids.com!

Piggy Bank Giveaway

One PennyWiseMama reader is going to WIN a “Great Piggy Bank Adventure” piggy bank from T. Rowe Price.

Simply use the Rafflecopter form below to enter. Giveaway ends on 9/29 at 11:59 PM MST. Open to US residents, 18+. Good luck!

a Rafflecopter giveaway