Games to teach kids about money

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Transcription

Announcer: We’re your family’s number one, it’s 96.5 and is that time of the week when we talk to one of my favourite people. It is Helen Baker from On Your Own Two Feet. She’s our finance expert. Evening, Helen.

Helen: Evening, Becs, how are you doing?

Announcer: Good, thank you, how are you?

Helen: Good. Thanks.

Announcer: Good, now it is the last week of school holidays. We’ve got a little while left before they go back to school, and you’ve got some top tips on some things you can do to teach the kids about money if people are looking for things to do these school holidays.

Helen: Yes, they must be running out of ideas and getting a little bit frustrated. So here’s three little ideas that are cheap and cheerful. So the first one is that you can put money in an envelope each day for one of your children that is appropriate for what you are doing on that day and then they need to manage the spending.

So if they are going to movies, they might have enough money in their for, and maybe they could get an ice cream and popcorn or whatever, and then they get to buy those things. But they see the money going in and out from a cash perspective and they learn to manage money as well and make some choices.

Announcer: Brilliant.

Helen: That’s the first one. And if they’ve got money left over, then they can either spend it or they can save it or they can gift it to somebody.

Announcer: I love that. All the little entrepreneurs out there are like, if I can get a discount on my ticket, that’s an extra $5. I love it, that’s a great idea though.

Helen: Yeah, and then the next one, I know all the parents find grocery shopping really annoying, but they can make a game out of it, so if they get the children to find 5 things on the list, and they have to find 5 things that come in under $20 in total. Depending on their ages, you might do it with 2 items within $5 or $10. Teaching them how to understand how much groceries cost and learning to add up, but making it a bit of a fun game.

Announcer: Yeah, I love it. A bit of a scavenger hunt around the supermarket, that’s great. Alright.

Helen: Yeah, and they get to think about what’s in the aisles and everything. And the third one is, I don’t know how many people want to tidy up their pantry because they are in spring clean mode, but what you can do is take your things out of the pantry and then gather like 5 of the different items, put them on the table and then get the children to put from the cheapest to the most expensive in order, so it’s a little game of the Price is Right kind of thing and you’ve got to try and work out which one is the most expensive and put them in order or something like that, and it’s a little game you can play and then you put everything back in the pantry as you want it and you’ve spring cleaned at the same time.

Announcer: Those are some amazing tips, Helen, some great ways to teach the kids, not only budgeting but math and things like that. Those are great, look at you, you guru.

Helen: Ah thanks, they’re a bit of fun, feel like playing them myself.

Announcer: Oh, well great. Alright, well those are the top three things you could do with the kids to teach them about budgeting. Helen, if people want to find out more just about budgeting in general or finances or financial advice, where do they need to go?

Helen: If they go to www.OnYourOwnTwoFeet.com.au.

Announcer: Brilliant, we will catch up with you next week.

Helen: Cheers, thanks Becs.