Posted in Kids, money management

Raising Children to Appreciate the Value of a Dollar

Posted on by Tim Connolly
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Raising Children to Appreciate the Value of a Dollar

Teaching children the value of a dollar is a lesson that can be taught every day, and there is no better time to get started than when you are reviewing your own holiday budget and savings plan. This time of year there are plenty of chances to help kids learn about the basics of money… most importantly, that to obtain the things they want or already have it takes good money management skills.

The thought of discussing the concept of money with children may seem too complicated for them to understand, but the key to success requires a little bit of creativity to find ways to incorporate a money lesson into an everyday conversation. And to also use tactics based on their age and comprehension level. Here are some suggestions to get you started.

Saving, Spending and Giving

The three main functions of money that your child will need to learn about are saving, spending and giving. Whenever your child has money to spend, discuss how they can split it into a certain percentage to save, a percentage to spend, and a percentage to give. Explain that the savings portion should be put aside to grow over time, that they can use the money designated to spend on whatever they wish and that it is important to designate a portion to give back to the community or those in need. Experts say that paying a small amount, however infrequently, can help in providing financial education to kids

Preschool – Grade 2

At this stage, you will be introducing your child to money and the concept that it has value. This may include talking about how it can add up over time, resulting in a large sum. Help your child identify the different denominations of money starting with coins and then moving up to bills. It is also the ideal time to teach the importance of starting to save money. Give them a piggy bank to store their money in and help them keep a tally of how much they save.

You can teach your child about money through play. When you help them understand the concept of money and how it can grow through games, they are more likely to stay engaged with the process. Young kids love to play The Penny Game—it’s fun and rewarding! The goal is to save the same number of pennies for each day the game is played. So for day one, one penny will be put away, day two, two pennies, and so forth until you have reached a full month or more of saving pennies.

Grade 3 -Grade 8

Once kids have grasped the concept of money, it is time to focus on the value of money as well as how the savings process works. This is a good time to put the handling of money into action. Create a list of chores and responsibilities for your child that can earn them a weekly allowance. You may also want to come up with additional jobs so they have the opportunity to make extra money if they want to. This will teach them that not only does working help them make money now, but also putting in extra “hours” can result in earning even more money.

Now that they have some of their own cash, discuss the importance of saving and spending money. Start with having honest conversations about what things cost. This can include talking about items that your child wants, both large and small, as well as the things that they need that you provide for them. When they want to make a purchase, help them put it into perspective by asking them how many chores they would need to do to make enough money to buy the thing they want. This can help them determine if the cost is worth the amount of time they have to spend doing chores to obtain it.  

Finally, explain the savings process and encourage them to put aside a certain amount of their earnings each week. A good place to start is to open a Young Savers Account with Lakeland Bank. Use the savings account to show your children how their money can grow over time especially if they begin saving early. Talk about short and long-term savings goals and explain how goals can develop good habits to save for the things they want in a few weeks as well as for things that they will need in the future.

High School and Young Adults

Once your child can apply for a job, it is time to tackle the tougher, more complicated aspects of money. If they don’t already have one, help them establish a savings account or transition their youth account to a Statement Account. Using online and mobile banking can be great digital tools to help them manage their money. It can also be a good time to discuss how debit cards work, how to use a credit card wisely and the importance of a good credit score.

The takeaway lesson at this stage is teaching them to budget their money each month to make sure their account will cover their expenses. Using a budget is the best thing someone can do to establish good financial habits. A budget will help them track what they spend, but it will also help identify where they can save money! Share this Budget Calculator to help them see where all their money goes.

Explain the Difference Between Wants and Needs

No matter how old your child is, teaching the difference between wants and needs is an important lesson when it comes to managing money. Be sure to keep it realistic and age appropriate so it is easier for them to understand how to prioritize how they spend money. For example, when the teen in your household wants to buy a pair of new designer shoes for $250 and they only have $275 in savings, ask them how they will purchase the gas they need to fuel their drive to school for the next couple of months.

This year, start a new holiday tradition and add financial education to your child’s wish list because it’s never too early to teach kids about the value of a dollar! Children who learn about the importance of good money management will have the financial literacy skills needed for a more secure future.

Posted in Financial freedom, Kids, money management

Start ‘Em Young – Money Management for Kids

Posted on by Tim Connolly
Start ‘Em Young – Money Management for Kids

Below are the things people have used over the years and our best attempts to teach them money management:

Ages 2-5: The Chorganizer & Daddy Dollars                

Each time a task was completed it was de-velcroed and placed in the pouch at the bottom. At the end of the week, they would receive a daddy dollar for each completed chore. They could then exchange daddy dollars for a prize depending on how much they earned. Most of the prizes we created were about spending time together. 

They could also save up the daddy dollars from week to week to buy something more expensive, larger, like a sleepover in our room. We did this because we wanted to establish delayed gratification from the beginning. Each of our kids handled money differently, some spending right away on trips with us to the dollar store, while others held onto the daddy dollars for a bigger prize. I see now that hasn’t really changed much. The spender is still the spender as the saver is still the saver. 

Ages 6-13: Personal Responsibility Chart           

As the kids got older, we made a chart of all the responsibilities each child needed to complete in a week, printed it off and placed it on the fridge. The kids were rewarded money at this age for the amount they completed and their attitude with which they completed it. We had categories like academics, chores, family and personal development categories. Items ranged from reading, going outside and practicing their sport to taking out the trash, etc.

They could earn anywhere from $4-10/week. Our focus here was on their attitude while doing the things that were on their own personal responsibility chart. It wasn’t enough to just take out the trash, their attitude had to be healthy about it, and they were supposed to take initiative with those responsibilities. We stopped around 13 because they naturally began to take ownership of their lives and their decisions and went to a straight monthly budget they got to manage.

Ages 13-18: Monthly & Seasonal Budgets                  

We give our teenagers a seasonal clothing budget 3x a year (not a winter one because clothes come in wrapped packages under the tree in that season). The money is enough to buy some new things, but also just below the mark where they may need to add some of their own money. It teaches them to manage money on clothing and decide if quantity is their thing (off-brand), quality (adding a few name brand names) or if thrifting is the way for them to go. One of my daughters was voted most fashionable in her large, affluent high school.

She did that on a shoestring budget, and I’m so proud of her for that. We also give them a monthly allowance for activities. Again, the amount is just enough for them to go to a weekly football game and get food afterward. The point here was to allow them autonomy on how they spend their money and for them to learn to budget out what they need to save or work towards for upcoming events. We opened up checking accounts and transfer money into their accounts each month or season. 

Ages 6-18: Bank of Dad   

My husband wanted to incent them to learn the value of saving early on, so he started an account called the Bank of Dad. When they gave him money for savings, he would match it 50%. Some of our kids have really done well with this, while others feel its a waste to save that money because they believe they won’t ever be able to spend it. We are still working on this. We put the Bank of Dad money into a savings account of their own once they turn 13.

Ages 6-18: Stockpile   

We recently added this after a family member introduced it to us. This came from a desire to teach them the difference between short term saving and long term saving. Here they can invest in stock by buying fractions of shares. Our kids are able to learn how to pick a company they know and value and then invest in their future. They can put money in savings for the short term and then Stockpile for the long term.

Ages 2-forever: Giving 

It’s so important to us to model for them and teach them about giving a portion of their money away. We never told them how much, but let them decide that on their own. One supported a child in Kenya every month, another gives it to our local church. They are always generous, and it’s fun to see them be generous each week from their chore money or real-world job. It has become natural, a part of how they view money. I sure hope this continues. We have so much; they have so much. I hope their hearts are always generous and faithful to give.

Money is supposed to be a tool to be used to help you accomplish your vision and goals for your time on earth. I hope with the feeble and ever-changing attempts we have made that our children will have provided them some tools in their toolbox for money management as an adult, spouse, and parent. There are lots of things relationally to fight over, I hope their money management won’t be one of them.

Taking out time to teach kids about money is probably one of the best investments you will ever make. After all, you try your best to secure a sound financial future for them; equipping your children with the skills to do likewise goes one step further.

Posted in Kids, money management

Importance of Money Management for Your Family

Posted on by Tim Connolly
Importance of Money Management for Your Family

Teaching money management to children is a critical life skill. By the time a child is old enough to leave home and head out into the world on their own, the best opportunities for teaching them about how to best manage their money are over. While most children do not have a lot of money, childhood is a very useful time to teach your children basics about money that will stick with them for decades.

When I was a child my parents started an interesting program at home to teach us about money management and personal responsibility. My dad would inform us that we had to put away all of our toys and belongings by a certain time. When the deadline came, he would walk through the house with a giant black trash bag. Anything that was left out was put in the bag. No matter how hard we cried, screamed, and begged for mercy, our belongings went right into that dark abyss.

After a few days, my father would come to us each individually with the black bag of items. He would show us what was in the bag and then gave us each the opportunity to buy back our own items. We were each given a small allowance each month that was mainly designed to teach us basic principles about money. If we were really messy, we could never afford to buy back all of our items in the bag.

This program was very effective with my siblings and me.

Here are a few things I learned from this program (although I admit I didn’t realize at the time I was learning these principles):

1. I am responsible for my own stuff and if I don’t take care of it, I may lose it.
2. I don’t get to make the rules. Consequences will always follow if I do not follow the rules.
3. Money is hard to get and runs out quickly. I can’t just create more money whenever I want or need more.
4. I would rather spend my money on something fun or useful than give up my money to get my own stuff back.

A similar program may work for your family. Kids respond well to learning important life skills through hands on activities. Telling your kids is good. Showing your kids is better. Letting your kids experience the principles taught for themselves is best.

Here are a two other great ways to teach your kids sound principles about money management:

Give Them a Paying Job

The key to giving your kids a paying job is to give them a job in addition to their normal chores. Keep the job simple. Make sure that the job is relevant to their age and skill level and that the work required involves at least some toleration on their part. If your child thinks the job is really fun, this could send the false message that they only have to pursue employment that is fun.

Make sure the terms of this opportunity are very clear between you and your child. Tell the child what the job requires and give them a reasonable, but firm deadline. Tell them exactly how much they can earn and what is required to receive the full amount.

You may also want to set up terms of a savings plan before the child begins the job. For example, you could inform the child that for every dollar they earn, 25 cents will go to a savings account for college and they will then have the remaining money to spend however they choose. Or maybe you prefer to suggest a 50/50 split. Either way, teaching your child to save a significant portion of their earnings is a great way to teach them about preparing for adult life.

If the job requires you to offer minimal training, make sure your child is well equipped to accomplish the job. Make sure you are nearby if the job involves anything that could be even slightly dangerous. Don’t be afraid to go over the finished job and ask your child to make improvements if necessary to earn the full amount promised. Kids need to understand that doing a job well is more important than hastily finishing a task. Over time their speed will increase with their skills.

Loan Them Money and Collect the Debt

If your child has an item they would like to purchase, but can’t currently afford, this may be a great opportunity to teach them about debt. Make sure the cost of the item is within their reach. If it is impossible for the child to pay you back within a short timeline, then you should consider a less expensive item to purchase for them instead.

Before the item is purchased, make sure that you convey to them that while you are paying for the item and they get to enjoy it now, they will have to pay you back in full by a specific deadline. You may also want to inform them that if they cannot pay you back for the item, you may ultimately take the item away from them at some point. You could also impose interest fees if you chose; however, this is probably a more appropriate exercise to pursue when your child becomes a teenager.

You may want to kindly and gently remind your child of the deadline as it approaches. This way they can’t be surprised when the debt is due, and you won’t forget in the meantime yourself.

Posted in Financial freedom, money management, Parenting

Can children learn money management?

Posted on by Tim Connolly
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Can children learn money management?

For us, 2020 was a year of learning for both the parents and the children in our household about what allowance means, how it works, and what kinds of money lessons our children are learning. In order to minimize sibling rivalry, we gave his younger sister a single-slot piggy bank.

We decided to try a weekly allowance for each child, giving them each two quarters for each year of age they were. For the older son, we made a requirement that at least one quarter of his allowance had to go into each slot. The allowance was not tied directly to chores, but we occasionally gave them both opportunities to earn a few extra quarters through helping with chores that were above and beyond the usual household expectations for them.

What did we learn after a year of this? Did our children learn anything about money?

The younger one is a saver!

Each week, our daughter would put her quarters into her bank and then put it back in the cabinet. We allowed her to decide when and how to spend the money inside, but almost without fail, she never wanted to spend it on anything. She likes that her bank is getting heavy. She has only used her allowance twice, both times on individual large toys, and neither time did it empty her bank. She doesn’t have any specific savings goals for the future at this point and seems to mostly enjoy having lots of quarters in her heavy bank, even though she understands she can use them for things that she wants.

The older one often lost focus on savings goals.

Our son has no problem with the actual saving process. His problem is that he gets heavily into saving for specific goals, but by the time his savings starts to approach a goal, his interests have changed and he ends up having a new target for his savings. Thus, when he actually reaches a goal, it’s usually for an item that he’s just recently decided on.

He typically does not use his “spend” slot for small things, as he prefers to be patient and use it as part of his “savings” slot. He has expressed a desire to give the money in his “donate” slot to Jump for Joel, but that hasn’t occurred yet. The “invest” slot is going to eventually turn into a savings account at our local bank, perhaps around his sixth birthday.

Not using the allowance as a form of punishment or leverage has worked well.

We want to establish that the basic things we expect from them around the house, like clearing the table after meals, basic politeness, and so on, are not tied to any form of compensation. Such basic behavior is expected. Their allowance is merely a tool to teach simple money management. Our children seem to respond better when there are not bribes involved – bribery works well the first time, but after that, would you really expect them to do that thing you want them to do without compensation?

The children anticipate allowance day.

Typically, allowances are doled out on a Sunday, and both of our children anticipate it and request it. They’ll often ask on Saturday if that day is “allowance day” and an allowance request is usually out there by noon on Sunday. It doesn’t seem to be a money-grabbing thing; I think they just have fun putting the coins in their bank and then lifting them up to feel how heavy they are.

Our oldest child is starting to understand prices and what they mean.

This not only builds on his allowance, but upon many of our discussions when shopping. He now understands that things have different prices and different costs. You have to spend more of yourself in order to acquire a more expensive item. Spend more of yourself? When you spend money, you’re really spending time and energy. In my son’s case, it’s time.

He doesn’t always ask how much it will cost; he often asks how many weeks he will have to save to pay for the item. He already has a basic understanding that money represents your invested time and effort. Money is simply a piece of paper that says I’ve invested a certain amount of time and energy in this. Deeply understanding that changes your relationship with money. It makes the money less abstract than before and much more real. It makes debt more frightening and good choices more appealing. Invested money, which earns interest, seems almost miraculous.

These are exactly the lessons we want them to learn from this allowance experiment.

These are small, early steps, but they’re all signs that they’re heading down the right road, one that will put them in a place where they won’t repeat the money mistakes of their father. You can help your children in learning finances from the children’s book series about money which will surely help them in gaining financial freedom and learning life lessons.

Posted in money management

Teaching Your Child Money Management

Posted on by Tim Connolly
Make money management fun activity for your child
Teaching Your Child Money Management

The number one problem in today’s generation and economy is the lack of financial education for kids. While most of kids grew up hearing the phrase, ‘Money does not grow on trees’, the children of today believe money flows in ATMs and that there is an endless supply available. That endless supply is the problem and also the, first reason for you to teach money sense to your child.

Yes, it is true that money does not make the world go around (And, no child should be taught otherwise). However, it is essential to teach money basics to children to empower and equip them with the knowledge, skills and confidence to build a secure future for themselves.

What parents can do

Give pocket money/allowance: Have your child use a notebook to keep track of where the money goes each month. This would be like maintaining an ‘accounts register’ which records income, expenditure and savings on a regular basis. This will help your child to be aware of his spending habits and help him manage expenses better.

Delay fulfilling their requests: Encourage your child to make a wish list. When she reviews the list a few days later, she may realize she doesn’t want some items anymore. Also, children learn to appreciate things when they have to wait for them. Teaching your child the concept of delayed gratification can help her combat the ‘Buy now, pay later’ mentality that can lead to credit card debt.

Be good role models: Never underestimate the effect your own money habits (good and bad) have on your child. Be honest about the bad financial decisions you have made, so that your child does not make the same mistakes. Avoid shopping as a leisure-time activity.

Focus on the relationship between work and money: Emphasize that you don’t get anything for free and you have to work for money. Valuing hard work will curb any sense of entitlement your child may have and make him respectful of money.

Posted in money management

How to Teach Your Children Effective Money Management using the “GISS Method”

Posted on by Tim Connolly
10 ways parents can teach their children about money - Young Enterprise & Young Money
How to Teach Your Children Effective Money Management using the “GISS Method”

The Powerful “Give*Invest*Save*Spend Method” for Managing Money and Building Wealth

This method is a wonderful place to start, especially with children. Why? Because it’s simple and effective.

You may have heard the old saying “Keep It Simple.” Well, it’s true, the easier something is, the more likely it will happen, especially if it has to do with starting a new habit. The “GISS Method”  helps frame the financial decision-making process thus simplifying it.

Give (10%)

This is an ancient concept often referred to as “tithing” which means “a tenth.” Giving is a very valuable concept for children to learn early on because as they begin to give to various causes, they become aware of their ability to help others and make a difference in the world. Children need to learn how to be thoughtful and kind, especially in this fast-paced world.

Invest (15%)

Investing is critical for people to ensure they will have a secure income and good lifestyle as they get older. Many people save but end up spending their savings on material items such as cars, boats etc. and not on assets that will create cash flow such as rental properties, businesses etc. Investing is an abstract concept for really young children but can be learned about gradually. Initially, this segment can be explained as the money they grow and use when they are older.  

Save (25%)

It is critical that children and adults learn to set and achieve goals and that goes for the financial part of their lives as well. As a child works toward their goal, whether it’s saving for a bike or a toy of some kind, they learn the steps needed to achieve their goals. Sometimes they will redirect and change course if something isn’t working before continuing on.

Spend (50%)

This is the money for expenses if you’re an adult and basic spending money for treats and so on for children. Children are perfectly happy to watch you spend your money on the things they ask for; it’s no fault of theirs. But once a child uses their own money for purchases they begin to consider the cost and value of things. 

The Bottom Line

The weekly experience of dividing your money into “Give, Invest, Save and Spend” categories is powerful for many reasons. The process is repetitive which is important for providing financial education to kids and developing new habits. It is full of memory making actions such as counting and sorting coins. The method also incorporates thinking and decision making skills when the child sets their short and long-term goals. These experiences all work together to make a memorable learning experience and create the foundation for good financial habits.

Posted in teaching teens

Teaching Children To Understand Money, Credit And Interest

Posted on by Tim Connolly
Use Coin-Based Games to Teach Money and Math Skills
Teaching Children To Understand Money, Credit And Interest

It is never too early to learn how to spend and save money wisely!

Before you know it, children will be hopping back on the school bus and once again be engaged in the day to day activities of school. One subject that is not often addressed in school’s curriculums is the basics of personal finances.  Investing time into teaching kids about money management, savings and credit scores will serve to benefit their future financial well-being. There is still some time before they head back to school, making August the perfect time to begin instilling these life lessons!

Younger children

For young children, it can be helpful to start off by giving them “jobs” that earn an allowance.  A child’s job can be a household chore, a learning activity, or just being a member of the family. Showing your children that money is earned will help them understand the value of a dollar and an allowance will give them independence to make decisions about how they spend or save their money.  Paying them an allowance opens the way for conversations about difference between needs and wants, as well as the benefits of saving and growing their money.

Older Children

As your children get older, have them get involved in the family budget and let them have an input in it. Consider having them take financial responsibility for the things they want, such as entertainment funds or articles of clothing. Teach your children how credit and interest work, and how using credit can be very expensive. Educate your children on credit scores and the significance of having a good credit score.

Posted in money management

Money Management for Kids

Posted on by Tim Connolly
Making Children Learn The Benefits Of Budgeting From An Early Age
Money Management for Kids

If you have kids–or grandkids, nieces, nephews, or young cousins–the summer is a great time to put them on the road to financial independence.

Since schools are sadly lacking in personal finance education, money management for kids starts at home (and the earlier the better). Teaching kids about money makes a huge difference in how they handle personal finances for the rest of their lives.

Kids Savings Account

Piggy banks are great, but the Kids Savings Account teaches kids that saving using online financial tools is easy and fun.

Family Mint

Family Mint isn’t a real bank account, but an application that allows kids to log in and track their money. It’s the perfect way for kids age 6 and up to make deposits, set up savings goals, and transfer funds into savings accounts, through a virtual interface.

Every dollar in Family Mint is real money that you owe your kids–because you become their bank. For instance, if you owe them allowance or give them a cash gift, they can log in and make a deposit to track the money.

If kids want to withdraw their cash, you can give it to them and then they log in and enter a withdrawal so their balance is always up-to-date in the program.

Kids manage their money, but you approve the transactions and can even set up recurring deposits for allowance. Young people learn by doing and their information is only accessible by you.

MoonJar

Moon jar books and games inspire young children and incorporate strong financial values and practices into everyday life. Their tag line is “Building Dreams by Learning to Save, Spend, and Share.”

Moon jar products make it fun and easy for families to start the conversation about money as early as possible. The name Moon jar comes from the idea of “Shooting for the Moon” and creating Big Dreams, along with the ancient custom of placing hopes and dreams in a jar.

Posted in teaching teens

How to Teach Your Children About Money

Posted on by Tim Connolly
6 Tips for Getting Your Kids Involved in the Family Budget This Year
How to Teach Your Children About Money

A few tips about teaching your kids about money:

  1. Start Early – the sooner kids understand that there isn’t an unlimited source of money coming from an ATM, the better
  2. Involve them in budgeting – don’t be so secretive about your household budget. It shouldn’t be mysterious to them. Have them learn from your mistakes and from your smart choices… from your EXAMPLE!

Here are a few basics principals that every parent should talk to their children about in respect to money.

Where does money come from?

In order for children to understand the value of money, they must first recognize where it comes from. Many might believe that money grows on trees or that it is magically produced from your wallet. My favorite one is that it somehow appears after punching a few buttons on the ATM.

Children can have so many ideas about money so it is parents job to clear it up for them. Providing financial education to kids on how money is earned will not only help them understand the worth of money but also help them better appreciate it.

What is the use money?

Another important step in teaching the children about money is talking to them about how it is used. Don’t be afraid to help them understand all the different things that money is used on…

  • The home
  • The car
  • The clothes
  • The shoes
  • The food and dishes on the table
  • The books
  • The toys
  • The television
  • The water and electricity
  • The internet

…and the list could go on. Everything costs money! However, keep it positive when reviewing spending… you don’t want to ingrain a “scarcity mindset” in your child. It will carry with them through their adult life.

Why is it important to save?

It can be difficult for a young child to understand the importance of saving. parents can help them by explaining the different reasons why they save. Here are some examples of reasons why to save:

  • Unforeseen circumstances
  • Future purchases of wants or needs
  • College; and
  • Vacations

Using visuals is a helpful way to teach money management for kids. If your child has a specific item they are hoping to purchase, help them come up with a plan. It may be helpful to create a mini budget or chart so that they can visually see where they are at and how long it will take to reach their savings goal.

Another great practice is helping them create long and short-term goals. And don’t over-estimate the power of a piggy bank! Buy your child a little piggy bank and let them save up all the change they can scrounge together! Change can add up REAL FAST!

Posted in money management

Dollars and Sense: Money Management for Children

Posted on by Tim Connolly
12 Ways to Save and Invest for Your Children: A Guide to Generational Wealth| Blackwallet.org
Dollars and Sense: Money Management for Children

It’s never too soon to start talking to your children about money. In fact, the National Center of Financial Education advocates starting a child’s money education at around the same time he or she is learning to count. The holiday season is a perfect time to help children begin to understand the role that money plays in purchasing gifts and other items.

By age three, children begin to understand that their parents use money to buy things, that money is earned by working, and that they can save money and wait to purchase things later. Studies show that parents—not the media and not peers—carry the most weight when it comes to teaching kids about money. In a recent study of millennials by Bank of America and USA Today, 58% of those interviewed cited their parents’ advice or example as most influential in how they handle their own finances.

From a very young age, children are practicing skills and attitudes that will serve them well in school and in the future. Children as young as three years old can grasp financial concepts such as spending and saving, a member of the President’s Advisory Council on Financial Capability and author of Get a Financial Life. They regularly engage in planning and problem solving, staying focused, and waiting for what they want. Through their pretend play and their everyday activities, children can develop thoughts, attitudes, and behaviors that will form the foundation for their later financial well-being.

During their daily visits to Make Believe Boulevard, children have countless opportunities to engage in role-playing as an extension of monthly-themed topics of interest, seasonal activities, and learning goals. In terms of developing financial awareness, students learn about working at a variety of jobs, getting paid, and paying workers. They also have opportunities to engage in purchasing decisions, and choosing which goods and services in The Boulevard meet their needs or wants.

Learning to wait is essential to good savings habits. The Learning Experience’s Manners Matter program includes lessons and activities that help children practice waiting their turn, a skill that makes it easier for student to wait for things they need and want when they get older. Our students also learn about how their money, time, and efforts can be used to help others. Our strong philanthropy curriculum teaches concepts such as charity, donating, and giving. Students have frequent opportunities to participate in philanthropic events, and they experience early on the joy of giving to others.

It is also a great time of year to help your children see that there are wonderful ways to enjoy the season that don’t cost a thing. Tour neighborhood holiday light displays, volunteer with a worthy organization, snuggle on the sofa with hot chocolate and a television movie, and visit with family and loved ones. This will help children see that, while it is important to handle money in a smart and responsible manner, spending time with one another is more valuable than any amount of money.