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Cheap, Fun Ways To Stay Cool This Summer

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Cheap Fun Ways to Stay Cool This Summer

After a long, cold winter, most of us embrace the warmer summer temperatures. . .until the weather becomes uncomfortably hot. We’re in Arizona and going through a heat wave; the daily highs will be 114 to 115 degrees for the next week. However, just because it’s hot doesn’t mean you and your kids have to be confined to the house all day. There are many cheap, fun ways to stay cool this summer.

Outdoor Activities

Play in the Water

Slap some sunscreen on and break out the sprinkler! My girls are 11 and 12, and they still love to run through the sprinkler and cool down.

If your kids are too young for a sprinkler opt for a kiddie pool or water table. When our kids were little, they could play for hours splashing water and throwing stuff in the water of their small stand-up water table. This is cheap, easy entertainment while still enjoying the summer.

You could also take the kids to the local community pool. Once a week my husband takes the kids to our community pool to cool off for a few hours.

Enjoy the Shade

Trust me, I know, some days even shade doesn’t cut it, but for the other days, plan a day of shaded activities only. One fun idea is to build a fort outside with sheets to play in! You’re protected from sun yet burning off some energy while enjoying fresh air.

Eat Some Cool Treats

Experiment with fun, cool healthy treats. Freeze smoothies into popsicles, eat some frozen fruit or jazz up water with frozen fruit for added flavor. Making homemade ice cream and experimenting with flavors is another option.

Indoor Activities

Walk Inside

If you need the A/C, try getting exercise at the same time. Super hot summer days are a great excuse to go to the mall…for a walk. Malls are air-conditioned and have wide halls that make a great walking path. If a true shopping trip isn’t in the budget, go to the mall and maybe grab a small treat like an ice cream at the food court. As long as your child knows the stipulations for the trip to the mall, whining should be limited when they can’t get the t-shirt/teddy bear/cell phone that they need.

Go to the Summer Movies

Every summer, theaters around the country offer discounted movie tickets for kids and their parents. Often, you can buy tickets for as little as $1. True, you don’t get to choose which movie you see at that price; you have to see the movie that the theater company designates. However, who can argue with a cheap movie and two hours of air conditioning while you watch?

Go Bowling

Fun Cheap Ways to Stay Cool This Summer

Photo by Todd Diemer on Unsplash

Likewise, bowling alleys also offer discounted bowling rates for kids. While this activity is fun, it’s probably the least frugal activity on the list because the price of renting bowling shoes can add up quickly. If your kids have their own bowling shoes, then this activity becomes much cheaper.

Final Thoughts

Hot summer days don’t mean all fun has to be zapped. While it is more difficult, it isn’t impossible to find cheap fun ways to stay cool this summer.

What are your favorite ways to stay cool this summer?

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How to Afford Raising a Child with Special Needs

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Afford Raising a Special Needs Child

When you have a special needs child, you are faced with a double financial whammy.  Of course, there is the added expense for therapy, medication, counseling, tutoring, etc.  These expenses alone can put a family into debt as they try to provide for their child.  However, there’s another cost that is rarely discussed.  Because caring for a special needs child can be time consuming, often one parent has to quit their job or reduce their hours to part-time.  Now, there are not only added expenses, but a loss of income.  How can one afford raising a child with special needs?

Thankfully, there is assistance available, if you know where to look.

Get a Diagnosis

The first thing you must do is get a diagnosis.  For instance, if your child has autism, she likely can’t receive any therapy until she is officially diagnosed by a qualified professional.

You will need to talk to your pediatrician to see how to go about getting a diagnosis.  There are a number of experts who diagnosis special needs children, depending on what special need you think your child has.

How to Afford Raising a Child with Special Needs

Afford Raising a Special Needs Child

Photo by Nathan Anderson on Unsplash

Once you have the diagnosis, you can begin to pursue therapy, if need be, and funding sources.  There are a number of places you should look.

See What Your Insurance Covers

Once you have the diagnosis, the next step is to see what your insurance covers.  All three of my children have special needs.  While my husband’s insurance didn’t cover speech therapy (some insurances do, but ours didn’t), it did cover applied behavioral analysis (ABA) therapy for our children with autism.

Depending on the quality of your insurance, you may be surprised to find that it covers more than you would have expected.

Talk to Other Parents

If you’re in contact with other parents of special needs kids, make sure to talk to them.  They can give you tips for where to find resources, whether they be federal or state aid or grants.

You can find other special needs parents at support groups and in places like Facebook groups.  If you homeschool, you may find special needs parents in your homeschool groups because a surprising number of kids who are homeschooled have special needs.

The more people you can talk to the better because each parent has a different story and different places where they’re getting help and support.

Apply for Social Security Income (SSI)

Another option is to apply for social security income.  Based on your family income and your child’s disability, you may qualify for SSI.  You will need to fill out some forms and make an appointment at your local social security office.  There, you will have an interview about your finances and your child’s disability.

Of note, if your child qualifies for SSI, you will also be able to cover your child through Medicaid.

If you don’t have private insurance but make too much to qualify for Medicaid, look into getting insurance through the Children’s Health Insurance Program (CHIP).

Open an ABLE Account

Afford Raising a Special Needs Child

Photo by Sharon McCutcheon on Unsplash

An ABLE account allows you to save money in a special account just for your special needs child’s medical and living expenses.  You or other relatives like grandparents can deposit up to $15,000 a year.  This tax-advantaged savings account does not tax the income earned by the account.

Another advantage of this account is that if your child qualifies for governmental assistance, such as SSI or Medicaid, the money in their ABLE account does not disqualify them for services on a financial basis.  Meanwhile, the money in the ABLE account can be used for their education, food, housing, support services, and an array of other needs.

Find What You’re Eligible for With Your State

Another fabulous tool to use is Benefits Finder.  This tool asks you to input some information about your child and his disability.  It can then help you see what benefits your child may be able to receive and what agencies to contact to pursue these options.

Determine If Your State Supports School Choice

Many special needs children simply don’t get the support and intervention that they need through the public school.  If your state supports school choice, you may be able to apply for funding to help provide your child with the education they need, whether that be through homeschooling and using tutors and therapists or through a private school, which would otherwise be unaffordable.

I’m in the state of Arizona, and they offer Empowerment Scholarship Accounts (ESA).  I have one child who has both dyslexia and a speech issue, so we applied and qualified for the ESA scholarship.  Through those funds, I was able to get my child a private dyslexia tutor and a private speech therapist.  Paying for these things out of pocket would have cost my family $800 a month, which is not sustainable.  Thanks to the scholarship, I could afford to pay for that.  My child has now graduated successfully from both therapies.

Indiana is planning to launch a similar program, and Mississippi has several scholarships available for students with special needs.  You can find out if your state offers a similar program by going to the Ed Choice website.

Final Thoughts

Raising a special needs child can be exhausting, but it’s also rewarding.  However, the financial costs of getting your child the help he needs can be financially draining.  One special needs parent I spoke with when we first learned of our children’s disability said she and her husband ended up filing for bankruptcy because there were so many interventions she had to pay out of pocket.

There are resources available so that seeking help for your special needs child doesn’t have to decimate your finances.   With these resources, you should hopefully find ways to afford raising a special needs child.

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Frugal Camping: Use What You Have!

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Frugal Camping

Some of the best memories of my childhood are when my parents, brother, and I would drive a few hours north and spend about four days camping with our extended family. I have over 30 cousins, so there was plenty of fun to be had. We went swimming, scared each other at night, and even saw a bear roaming the campsite one night. Taking a camping trip can be a frugal way to have a summer vacation and get away from all the stresses of modern life.

Camping Basics

Camping is something that can be as simple or as elaborate as you want. Planning a weekend camping trip with your family should definitely be kept simple. Don’t overcomplicate things when kids are involved.

When I talk to my non-camping friends, a lot of them are turned off by the volume of stuff required to do it. However, camping doesn’t have to be that way. By opting to stay at an established campground for a small fee (versus trekking into the woods yourself and popping a tent),  you’ll save a lot on both things you need and time.

Campgrounds offer bathrooms, water, and, when needed, electricity. It is 2021 after all, and most of us have a device or two that needs a recharge. Some larger campgrounds even have extra amenities like laundry, playgrounds, and pools which, when you have kids, can be a blessing.

What You Need to Buy

Frugal Camping

Photo by Tommy Lisbin on Unsplash

To plan your weekend away, you don’t need much. If you don’t already have access to one, you really only need to acquire a tent, possibly a tarp if you think you may need coverage for your site, and a cooler for your food.

You don’t really need sleeping bags or air mattresses; just layer a bunch of blankets and pillows on the bottom. Even though they can be nice, you don’t really need things like camping stoves. However, we do use our camping stove a lot when we camp. Yet we could manage just fine with a decent fire, a cast-iron skillet, and tin foil to cook all of our food.

Frugal Camping: Use What You Have

You can get away with using a lot of things you already have, which is what makes camping such an easy thing to do. Blankets, pillows, utensils, and cooking the food you already bought make camping a cheap option for family fun.

When we camp as a family, we bring food from home that’s easy to cook over a simple flame (you’d be amazed what you can create in a tin foil package) or bring food that’s prepped ahead and warmed up (think stew or chili). We usually replace our ice daily, and if we don’t have firewood from home, we buy it from the campground. (Another bonus to staying on the ground.)

Camping Brings Us Back to Basics

What I love about camping is the simplicity and, at the same time, the complexity of it all. We cook all of our food and then spend time washing and drying our dishes for the next meal since we don’t have access to a dishwasher and only have access to enough dishes for one meal at a time. Camping helps keep us grounded.

Final Thoughts

Camping is a great way to seriously relax. Yes, I bring my cell phone but I really only use it for picture taking and emergency calls. Social media is turned off- it’s almost sacrilegious to do in the wilderness. It is a great way to really connect with friends and family lazing around on a sunny afternoon or catching up while roasting marshmallows at night. (Again save the fancy metal roasting sticks and use a legit branch; the dirt won’t kill you!)

Do you camp with your family? How do you keep it simple?

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Cheap Ways to Childproof a Condominium

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Childproof a Condominium

When baby starts crawling and walking, you may feel like you don’t have enough eyes to keep track of him. Babies this age love getting into cabinets and putting things into their mouths. They love to explore. While these traits are good for babies’ growing knowledge, it can also put them in danger, sometimes mortal danger. However, there are cheap ways to childproof a condominium that will help keep your baby safe and help you maintain some control over his environment.

Cheap Ways to Childproof a Condominium

If you’re trying to save money or be frugal when childproofing, you’ll be happy to know you can start with the free fixes first.

Free Ways to Childproof

Consider Baby Safety Before You Buy

Childproof a Condominium

Photo by National Cancer Institute on Unsplash

If you even remotely are considering having a child when you are condo shopping, the best thing you can do is find a child-friendly condo layout. That means finding a condo that doesn’t have a large balcony that over looks the living space. (Trying to childproof an upstairs railing can be a nightmare!) Likewise, open concept plans may be more difficult to childproof because you can use doorways to separate off areas.

Rearrange Your Cupboards

Once your child starts becoming more mobile, it’s time to rearrange your cupboards. In the lower cabinets, put things like pots and pans. If baby gets into these items, no harm done. You’ll want to move any glass containers or lids to higher shelves.

Put Up Dangerous Items

Many people keep cleaning chemicals under their kitchen sink. A better place for these might be in a higher cupboard so you don’t risk your child getting into them and accidentally getting poisoned. Automatic lighters and other potentially dangerous items should all be put up. Out of sight, out of mind.

Keep Furniture Away from Windows

The next free thing you can do is keep furniture away from high windows. If your child’s bedroom is on the second floor or higher, be sure to keep the bed and dresser away from the window. This step makes it harder for your child to inadvertently fall from the window since she has nothing to climb.

Tie Up Window Blind Cords

Window blind cords create a real danger for young children. In a study by The Center for Injury Research and Policy at Nationwide Children’s Hospital, researchers “found that over 26 years emergency departments treated almost 17,000 children for strangulation from window covering cords.  Of those cases, 271 children died” (Today.com).

Sure, you can buy expensive cord binders, but check out Pinterest for a way to make a free cord binder. All you need is a light piece of plastic that you probably were going to throw in recycling anyway and a pair of scissors. This idea is ingenious!

Bath Seat

Don’t feel the need to buy a special bath seat for when your little one takes a bath. Instead, place your child in a laundry basket in the tub when giving her a bath. She can stay seated in a smaller area, so there is less chance of slipping or falling.

Low-Cost Options

After you exhaust the free options, there are several low-cost ways to childproof your condo.

Tennis Balls on Sharp Corners

Little ones can often lose their balance when just learning to walk, so cut the side of a tennis ball and stick it on the sharp corners of tables and other items like the hearth of the fireplace.

Elastic on Handles

To keep cabinets with handles closed, put rubber bands around the handles. Double twist to make sure the doors stay securely closed.

If you have cabinets without handles, either install handles or you can buy inner door latches. These run about $1 a piece.

Plastic Container Around Power Cords

If you have a power strip you want to babyproof, you can take a cheap plastic tub, put the power strip inside, and cut a hole on the side for the cords. See full instructions and image on Pinterest.

Hairband Around the Toilet Paper Roll

Childproof a Condominium

Remember the fun age when toddlers delight in unrolling ALL the toilet paper on the roll? End that habit with a rubber band around the toilet paper roll.

Band-aids over Electrical Outlets

If it will be a few days before you can get to the store, you can cover electrical outlets with band-aids. However, your baby will likely figure this one out quickly, so eventually you’ll want to buy electrical outlet plug covers. These are very affordable at only $6 per 24 pack.

Door Knob Covers

There may be some rooms and closets that you just don’t want your child to get into unattended. For those rooms, consider door knob covers. These are easy for parents to use, but little ones usually can’t figure them out until at least the preschool years.

DIY Baby Gate

If there is a doorway you want to keep baby from going through, you can create a DIY baby gate. You’ll need two tension rods and fabric. True, you’ll have to invest some money into this project, but the overall cost is much cheaper than metal, store-bought baby gates. Plus, these are softer.

Air Vent Protection

If you have air vents on the floor, your child may be unable to resist dropping items down the slats. Prevent this by putting fabric tulle under or over the air vent. Air can still flow through unobstructed, but your child will no longer be able to put things through the cracks.

Final Thoughts

These are just a few of the cheap ways to childproof a condominium. While you won’t have to spend a fortune childproofing, you will likely need to buy some supplies. There are free childproofing fixes, but you’ll also probably have to buy some of the low-cost supplies to truly keep your child safe. But don’t worry, in a few years, childproofing will be a distant memory as your child gains more independence and learns what’s safe and what isn’t.

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Free Diapers for Low Income Families

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Free Diapers for Low-Income Families

Having a baby when experiencing lower income is a wonderful experience plagued with frustration. When I had my children, I was trying hard to improve my finances and still struggling to get something as simple as diapers. On average, it costs $70-$80 a month to provide disposable diapers for one baby. That can be a hefty expense for a lower income family. Fortunately, there are ways to make things simpler for yourself and ease your finances a little bit. Here are a few ways low-income families can get free diapers.

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Cheap Costco Desserts That Kids Love

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Cheap Costco Desserts That Kids Love

For some kids, a trip to the grocery store with mom or dad is B-O-R-I-N-G.  Yet, for many of those same kids, a trip to Costco is fun.  Why?  My guess is the free samples.  If you can get free, tasty food while you’re shopping, going to the grocery store is suddenly a lot more fun.  Even better, kids can try to convince their parents to buy those cheap Costco desserts that kids love (and grown ups, too!).

Cheap Costco Desserts That Kids Love

There are so many delicious desserts at Costco, almost all of which are reasonably priced.  Kids, in particular, tend to gravitate to these desserts:

Churro From the Food Court

Don’t buy your kids these unless you plan to buy them every visit.  The churros are that good!  Costco churros are a full 18 inches long and are fried and coated with cinnamon and sugar.  Best of all, they’re only $1!

Delizza Patisserie Belgian Mini Cream Puffs

Found in the freezer section, Delizza Patisserie Belgian Mini Cream Puffs can’t be beat.  There are 120 mini cream puffs in the container, making them perfect for parties or to just snack on after school.

These feature a light, flaky pastry filled with a decadent cream filling.  You should let them thaw for 30 minutes to one hour, but some people can’t wait and eat them right from the freezer.

They’re mini size make them the perfect kid-friendly dessert.

Costco Danishes

Who needs donuts for breakfast when you can have a Costco danish?  Found at the bakery, you can choose from several different flavors such as cinnamon, cheese, apple, and cherry.  Serve these for a delicious weekend breakfast or gently heat one up in the microwave for an after-school snack.  Cinnamon danishes used to be my favorite flavor when I was a kid.

Ice Cream Sundae

If you decide against the churro at the food court, you and your kids may want to opt for the ice cream sundaes.  These are $2.49, and you can choose between two different toppings—strawberry or chocolate.  These are the perfect treat after a summer shopping trip to Costco.  Even better, Costco is very generous with the toppings, which helps to elevate this dessert to a whole new level.

David’s Cookies 9-Inch Rainbow Cake

Cheap Costco Desserts That Kids Love

Photo by Sharon McCutcheon on Unsplash

What’s better than bright, rainbow colors and sugar?  For a kid, the answer is nothing!  David’s Cookies 9 Inch Rainbow Cake will delight your kids.  Inside, you’ll find five thin layers, with white cream frosting in between each layer.  The layers form the color of a rainbow with red, then orange, then yellow, then green, and finally blue.  Your kids will likely be delighted when you serve this yummy, fun cake.

Final Thoughts

Your kids likely enjoy going to Costco with you because they can get free samples.  They’ll likely beg to go with you every time if you give them one of these five cheap Costco desserts that kids love.

Which Costco dessert do your kids enjoy most?

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How to Save Money on Birthday Parties (and Still Have a Good Time)

Charity Birthday Party Ideas Your Kids Will Love

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Charity Birthday Party Ideas

Although birthdays are meant to be a celebration, sometimes we can’t help but feel we’re spending more money on a party than we need to. Instead of paying hundreds of dollars on new toys that your child will outgrow, put that money to good use by hosting a do-good birthday party for your kid. Lots of parenting websites have great ideas for charity birthday party ideas, and we’ve compiled a list of our favorites. And if you’re worried about your children hating your suggestions, kids are natural givers and would likely be more than willing to help out people in need.

Bring an Animal Shelter to Your Home

There are plenty of pet adoption centers and animal societies that would be willing to bring their animals to private events like a birthday party.

Charity Birthday Party Ideas

Photo by Jairo on Unsplash

Or, you could see if you could host your party at the local animal shelter.  That’s what the Shaw Family in Portland, Oregon did.  They had their party guests bring treats, toys, and other donations for the cats and dogs, and you can do the same. Guests can also be given the option to adopt one of the pets!

Have a Couple Piggy Banks in the Party Area

At an early age, we teach kids the value of money with allowances and earning extra cash with chores or babysitting. To show them how a little goes a long way, have a couple piggy banks in the party area where guests can make their donations.  You can label each of the piggy banks with a different charity, which gives guests the option to choose which organizations they would like to support.

Organize a Clothing Drive

Take cue from the Multari twins in Hamilton, Ontario, and have your child’s friends and neighbors bring in previously loved and any unused clothes. The girls ask for pajamas every year, sometimes receiving as many as 93 pairs of pajamas to donate.  The girls’ pajama drive has been so successful, they have even started their own nonprofit.  Depending on your charity, you might have to limit the kinds of garments you accept.

Donations to Your Local Homeless Shelter

Another idea is to call your local homeless shelter and ask what items they need.  Then, you can create a wish list, and party goers can choose from the wish list.

Another idea is to see what food the shelter may need.  You and your party guests could create sack lunches for the homeless, making sandwiches, bagging chips and desserts, and adding a fruit.

Final Thoughts

American children are often spoiled when it comes to material items, especially when they receive many gifts from well-intended birthday party guests.  Instead of showering your children in gifts, choose one of these charity parties to help spread the wealth, so to speak.  The more you and your children practice giving, the more you’ll enjoy helping others.  Your guests can feel good about their role in helping others, too.

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Is It Worth Buying Expensive Car Seats?

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Buying Expensive Car Seats

As a new parent, you’ll likely feel pressured to buy many things.  After all, loving parents want the best for their children and should be willing to pay for that, right?  While there are areas where you won’t want to go the cheapest route, there are other areas where you can save money.  One area where you don’t need to spend the most money is when buying car seats.  Buying expensive car seats isn’t necessary for your child’s safety, but there are other standards you’ll want to consider.

What to Consider Instead of Buying Expensive Car Seats

Rather than just looking at the price of the car seat when deciding which one to buy, you should instead consider several other factors.

Installation

The most important factor in protecting your child in case of a crash is installing the car seat properly.  Yet, many, many parents unknowingly install the car seat improperly.

If you live in the United States, you can go to any local fire station, and the fire fighter will check to make sure the car seat is properly installed.  If it’s not, the fire fighter can help you install it properly.

Safety

Before making your purchase, consider the safety record of the car seat you want to buy.  An excellent place to look is Consumer Report’s Car Seat ratings.  You’ll find that buying an expensive car seat isn’t necessary.  There are many cheaper car seats that offer your child all the safety he needs.

Length of Use

Some of the cheapest car seats have lower weight and height restrictions, which means you’ll need to buy the next size up more quickly.  Sometimes, buying a mid-price range car seat is actually more affordable than the cheapest brand because you’ll be able to use it longer.

What to Avoid When Buying Car Seats

Buying Expensive Car Seats

Photo by Clark Van Der Beken on Unsplash

Even if money is tight, please avoid buying used car seats.  Some people don’t know this, but car seats actually have an expiration date.  That date is typically six to ten years after the seats are manufactured.  Why an expiration on car seats?  The general idea is that the plastic and seat belts can degrade after years of exposure to the sun and heat.  Also, safety standards are constantly changing, so new car seats may offer your child more protection than used seats you buy from someone else.

In addition, if you buy a used car seat, you have no way to know if that car seat survived a car crash.  If it did survive a crash, there may be small cracks in the plastic that you do not know about, which can make the seat less safe for your child should you be involved in an accident.

Final Thoughts

Car seats are necessary, but can be pricey.  However, don’t feel pressured into buying expensive car seats.  Instead, consider the car seat’s safety record and make sure to install the seat properly.  Finally, choosing seats that have higher weight and height limits may save you the most money over the time your child will need car seats.

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How to Teach a Child to Count Money

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Teach a Child to Count Money

Counting money is one of the most foundational skills children must learn. Counting and making change are critical skills that many entry-level jobs require. When you apply the following lessons on how to teach a child to count money, you challenge his or her mind to grow in other ways, too.

To give you a thorough array of options on teaching counting skills, I sought out advice from experienced educators and parents. Here are my findings.

How to Teach a Child to Count Money

Create a Play Store

Parents who have taught their children the basics of money said one of the best ways to do so was to set up a play store. Together with their child, they created a fake shop with household items or toys listed for sale. Use a sticky note to indicate the price of each item, then give your child change, and open the shop for business.

Depending on your child’s age, you can vary the degree of difficulty. For example, for a 3-year-old, you could say, “This costs one quarter,” and teach her to identify that coin. For older children, you can pay with a dollar bill and walk them through making change.  Don’t forget to also teach them how to count change back to the “customer.”

Teach Them to Count by Fives and Tens

Teach Kids to Count Money

Photo by Katie Harp on Unsplash

“Kids need to have a good understanding of place value and number sense before they count money,” says a third-grade teacher with I spoke via Facebook. “Start with one coin, and teach them how to count it and how many it takes to make a dollar.”

She goes on to describe a great money game involving two dice. Give the child as many pennies as the number he or she rolled. Have the child then exchange it for the highest value possible.

For example, if the child rolls a ten he or she can trade in pennies for a dime.

In addition to teach your child how to count money, when you teach them to count by fives and tens, you’re teaching them the beginning stages of multiplication.

Let Them See Real Transactions

Many people have had great success with giving their children real world experience.

Here are several examples:

Earn Money Through Chores

Help them understand that “work = pay,” and help them count their earnings. If there’s something they want to buy, help them estimate the cost.

Lead by Example

Allow your child to watch you pay for something in cash. This will help him see how money works and how it requires lots of it to pay for his needs and wants.

Study the History of Real Money Together

Hand your child the coins you received in change that day and quiz her on some coin facts. Not only can learning to count money teach your children better math skills, but you can also create an impromptu history lesson. For example, did you know that the nickel used to be called a “half dime” up until 1883? Half dimes were made of silver which became scarce during the Civil War. After that, they were made of copper and nickel, and they finally were made and referred to entirely of nickel in the 1880s. Click here for more U.S. coin facts.

Final Thoughts

The overall theme of how to teach a child to count money is YOUR involvement. Set aside time to sit at the table and talk about how many nickels are in a quarter or how many pennies are in a dollar. Talk about how much money you earned at your first job or something you saved up for, like a bicycle. That will help your child apply what he or she has learned.

How did you learn to count money? In school? At home?

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What Age Should Kids Learn About Money?

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Kids Learn about Money

What age should kids learn about money?  That’s a difficult question because kids learning about money isn’t the same as, say, potty training.  Kids continue to learn about money throughout their childhoods.  However, having said that, your kids can begin to learn about money in the early preschool years and continue on from there.

How Preschool Kids Learn about Money

At this age, kids are watching you closely so set a good example.  For instance, when you go to a grocery store, don’t reward your kids with a treat every time.  If you do, they start to expect that you will just buy things for them.

Instead, create buy, spend, and save jars.  If you want to pay them an allowance for chores, now is the time to start.  You can set up a chore chart, and pay them for their chores.  When you pay them, you can help them separate their money into the three jars.  Let them use their spend money for little things they want to buy.

This is also a good time to get them money-related toys like play cash registers so they can get used to the concept of the different values of our coins and bills, spending money to buy something, not having enough money, and making change.  Play store and grocery shopping with them frequently.

How Elementary Kids Learn about Money

Once your children learn the rudimentaries about money, it’s time to teach them more complex lessons.  The grocery store is a great place to teach these lessons.  You can teach about buying generics, price comparing different sizes of the same product, and the value of using coupons.

Kids this age will be earning more than they did as preschoolers, so you can also help them save for a large goal like an expensive Lego set they want to buy.  You should also teach them that once the money is spent, it’s gone.  Then, they need to work hard to earn more to save and spend all over again.

How Middle School Kids Learn about Money

At this age, kids are going to want to spend, spend, spend.  This is the time to teach them, if you haven’t already, that you won’t buy everything they want.  Just because your daughter wants new jeans when she already has enough doesn’t mean you’ll buy them.  She can save her money and buy them if she really wants them.

You should also teach them about the power of compound interest.  This helps them realize that if they delay spending today, compounding interest can help them have more money later.

How High School Kids Learn about Money

Now is the time when all your hard work teaching your kids about money comes to fruition.  Rather than buying or giving your child a car, have them save for at least half of the price of a car.

Also, teach your kids about credit cards, how to use them responsibly, and how to avoid accruing debt.

Be very clear how much you can afford to pay for their upcoming college.  Then, they can choose a college that is affordable, or choose one that costs more than you can afford.  However, help them understand how accruing student loan debt can make it harder to achieve their goals in adulthood.

Final Thoughts

Throughout your child’s life, you should be teaching them money lessons.  As they age, these financial lessons should become more specific.  If you’ve done your job well, by the time they leave home, they’ll be able to make smart money decisions.  However, if your child makes foolish money decisions, know that you’ve laid the ground work so they know how to improve their financial situation should they need to.

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