Let’s face it: your new bundle of joy doesn’t come cheap. You’ll want to plan ahead for your additional expenses, whether that be researching the best personal loans or tweaking your budget. After all, one recent study estimates that a middle-income ($59,000-$107,400/year), two-child family will spend about $13,000 per child each year.
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How to 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
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 Are the Perils Allied with Contracts for Differences?
In economics, CFDs provisions are made in a futures agreement where fluctuations in the repayment are done using cash instalments instead of conveying actual merchandise or securities, marked as leveraged products.
This implies that with a small preliminary investment, there is a likelihood for returns consistent with that of the underlying asset or market. Instinctively, this is an apparent investment opportunity for any broker.
CFDs can be somewhat dicey due to little industry directives, plausible absence of liquidity, and they want to uphold a realistic profit margin due to leveraged losses. Regrettably, margin exchanges can increase returns but losses as well.
The apparent rewards of CFD trading often mask the allied perils. For further information on the same, click on the link here https://www.equiti.com/platforms/metatrader-4/ .This discussion will look at CFD risks, including counterparty risk, market risk, and plenty more besides
Types of CFD Risk
Client Money Risk
In countries where CFDs are legitimate, there are client cash security laws to protect the stockholder from conceivably damaging CFD suppliers’ acts. By resolution, money moved to the CFD supplier should be disengaged from the investor’s money to prevent investors from hedging their assets.
Nonetheless, the law may not veto the customer’s cash from being joined into at least one account. When an agreement is settled upon, the sponsor withdraws a primary margin and has the option to request further margins from the shared account.
In the event that different clients in the joint account neglect to meet margin calls, the supplier has the privilege to draft from the shared account with the probability of distress returns.
Liquidity Risks
Economic circumstances influence several monetary dealings and may intensify the risk of losses. When trades being made in the market for an asset are inadequate, your general agreement can become illiquid. Now, a CFD supplier can require extra margin instalments or close contracts at mediocre prices.
A CFD charge can drop before your exchange can be performed at a formerly settled upon cost, otherwise called gapping. This implies that a current contract holder would be needed to take less than ideal benefits or cover any losses endured by the CFD supplier.
Market Risk
The contract for changes is derivative assets that a trader uses to venture on the movement of direct funding, like stocks. If someone believes that the underlying asset will increase, the stakeholder will choose a protracted position.
On the other hand, speculators will pick a short position in the event that they accept the value of the resource will diminish. One hopes that the value of the resource will move in the direction most promising for you.
In certainty, even the most educated speculators can be proven wrong at this. Unforeseen data changes in market settings and government rules can bring about brisk changes. Because of the nature of CFDs, minor differences may significantly affect returns.
A negative outcome on the underlying asset’s value can make the sponsor claim a second margin reimbursement. If margin calls cannot be met, the supplier may halt your position, or you may be forced to trade at a loss.
Counterparty Risk
A counterparty is the organization that gives the resource in a monetary exchange. When purchasing or selling a CFD, the solitary resource being exchanged is the CFD supplier’s agreement. The associated risk is that the counterparty neglects to achieve its monetary commitments.
In the event that the supplier can’t meet these obligations, at that point, the value of the underlying asset ceases to be relevant. It’s crucial to recognize that the CFD industry isn’t vastly controlled, and the dealer’s integrity depends on reputation, longevity, and monetary position rather than liquidity or government standing.
Final Thought
All in all, when you are thinking about going into any of these investment vehicles, it is very crucial to assess the perils associated with the leveraged assets. This is because the ensuing losses can be much more than initially forecasted.
Free Chore Chart Template for Kids
My kids started helping with chores when they were about 18 months to 2 years of age. My oldest got his own little broom that would recite, “sweeping, sweeping” as he swept. He loved that broom, and he loved helping out. Most toddlers are eager to do what the people around them are doing. If you have a toddler and want to start working with them on chores or you want a more organized chore routine for your older kids, consider using one of these free chore chart templates for kids.
Why Assign Kids Chores?
Some parents don’t want their kids to do chores. They argue that kids should just be kids. However, there are many valid reasons why you should assign your children chores:
They Learn Valuable Life Skills
When I went to college, I couldn’t believe how many kids didn’t even know how to do their own laundry. My son started doing his own laundry at 12, and my daughter started at 11. The larger variety of chores you have your kids do, the better they will be able to successfully live on their own.
They Learn to Contribute
There are many things that need to be done to run a household successfully. If you don’t expect your kids to contribute, they can grow accustomed to the idea of others doing things for them, which can lead to a sense of entitlement. The family is the first place kids learn what it means to be part of a group and to help run that group. This, too, will be a valuable lesson for their adult lives.
Should You Pay Kids for Chores?
Photo by Anna Earl on Unsplash
This can be another devisive issue. Some families don’t pay their kids money for chores because they want them to realize that they are part of a family and family members help one another.
Others, like my family, pay their kids for chores because they want kids to firmly make the connection between work and income. You work, and you earn money. You don’t work, and you’re broke.
Still others don’t pay cash but instead let their kids earn privileges like watching a show, or playing a video game, or staying up late based on the chores they do.
The choice is up to you and what your family decides will work best.
Free Chore Chart Template for Kids
There is no need for you to create your own chore chart template for kids when there are so many out there! Here are a few of our favorites:
Healthy, Happy, Impactful has a chore chart template that gives blank lines to list up to eight chores beside squares for days of the week. Just check off each day that the chore is completed. There is also a box at the bottom for notes.
Plan for Awesome has a chore chart template for toddlers. This one is unique in that rather than words, there are pictures so your littlest helpers can understand. You can also use the pictures and words for the preschool and early elementary set.
Make any one of these chore charts last longer by laminating them or placing them in a plastic sleeve so you can use them week after week.
Final Thoughts
There’s no time like the present to start having your kids help with chores. These free chore templates can help motivate them and help them find pride in their accomplishments.
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How to Choose the Right Homeschooling Curriculum for Your Star Student
Did you know that the highest rate of homeschool growth occurred between 2003 and 2007? However, due to the COVID-19 pandemic, the numbers are rising again. With parents unsure how to go about this, a lot are wondering about the curriculums.
Read on to learn about how to choose the right homeschooling curriculum for your child.
Consider Specific Subjects
To find the right homeschooling curriculum, you need to know which subjects you want to teach. A family needs to understand that some programs only offer some things while others will have it all. Some programs won’t offer traditional subjects and focus on student-guided learning.
Depending on the levels of development your child is going through, you could patch things together. This means piecing a few platforms together to get the right subjects.
Think About Your Involvement Level
If you want your child to adapt life skills while they are learning from home, it is important to consider how much you will be involved in the process. Sometimes a student must get through things on their own. However, this should heavily depend on the learning preferences of your child.
There are programs out there that will do all of the teaching work for you while you supervise. You can be as involved as you want with programs that require you to teach your child. Some fall in between the two.
Before determining how much you are involved, consider your own education level. It is also important that you know how to teach your child without making things more difficult for them. It is also important to consider how much time you actually have in the day to homeschool your child.
Once you consider all of these factors, you can find a program that represents that.
Create a Schedule
Before finding a homeschooling curriculum, you should create an ideal schedule you and your child should follow. Most of the time, homeschooling leads to a shorter schedule than a traditional school would. This means having a lot of extra time in the day.
This is great for completing homework and other things that can boost activity levels. When you have a schedule in mind, you can consider a curriculum that works with said schedule.
Determine Your Child’s Learning Type
Based on personality types, you can figure out the learning type of your child. This could be sitting down at a desk like a traditional classroom does or having your child complete everyday tasks.
The traditional route might work better for you so that you can complete chores around the home while your child does their work. However, this might not be the right thing for your child. Some programs provide experiences through “field trips” and hands-on learning.
Find the Right Homeschooling Curriculum
Knowing your child is the best way to find a homeschooling curriculum that works for them. There are a lot of things to consider before you start the homeschooling journey. By communicating with your kids and considering this guide, you can find the perfect homeschooling curriculum.
Keep reading our website for more articles that can benefit your family life.
Great Gifts: 6 Unusual Birthday Presents for Kids
Are you trying to get a gift for the kid that has everything? Thinking of a unique gift that you can be sure a child doesn’t already have can be difficult, but we’re here to help.
Keep reading for some unusual birthday presents for kids that can help you as you’re shopping for the little one in your life. Grab a few of these awesome gifts to make the birthday girl or boy smile this year.
Should You Sell or Donate Old Cell Phones?
How do you know whether to sell or donate old cell phones?
2020 may have been a chaotic and challenging year, but it did give us some of the best smartphones on the market! Are you planning on buying one of these brand-new phones? Before anything else, you might want to take care of getting rid of your old phone first.
Do I Need Flood Insurance and What Does It Cover?
Floods are a leading cause of death and destruction. Globally, this natural disaster is responsible for more than $40 billion in damage each year. In the U.S., the total annual losses are close to $8 billion.
Some American cities are at greater risk of flooding than others. Jersey City and Union City (NJ), Miramar Beach (FL), Raleigh (CA), and The Woodlands (TX) are just a few to mention. Floods can occur at any time of the year in these areas, causing millions in damages.
From Woof to Meow: The Best Pets for Kids at Any Age
Having a pet in your home can teach your children about responsibility and caring for another creature. It also can set them up with compassion and maturity that will benefit them later in life. But which type of pet should you choose?
In this article we will tell you the best pets for kids and why you should get one for your family. Read on to find out more.
How Fundraising for charities help the poor
In the past few decades, there has been a surge into the humanitarian activities which are taking place not only in a country but globally around the world. This upsurge has been brought by social media platforms. Why? Because many charities and fundraisers have been working tirelessly on these platforms to spread awareness concerning the humanitarian crises and the need to work for some of the very pressing issues which concern issues from rising environmental concerns to issues such as world hunger malnutrition and sanitization. [Read more…]