Children Learn About Money While Having Fun

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It's never too soon to start teaching your kids about the value of money.

One of the best ways to do this is to make the learning fun as it ensures the information is retained quicker. Playing games and storytelling are the most effective.

There are a few games out on the market you may find useful. Monopoly is the first one that comes to mind. Everyone at some stage or another has played this game, and if you played it when you were a child, you probably didn't realise all of the lessons that were being taught in the game. For example, being paid a salary every time you passed go, receiving bonuses, buying and selling properties, negotiating and the responsibilities of being a landlord (such as paying rates and looking after your tenants) are only a few to mention.

You can also make everyday duties such as grocery shopping fun and teach your child the value of money. Take your child shopping and show them how to compare prices of similar products. Give them a writing pad, a pen and and calculator and get them to calculate the price per gram on each item and choose which one they think is best. When it comes to paying at the counter, work out with them the savings they made and put this into perspective for them. Talk to them about how long it would take you to work to make this saving. For example, if you earn $30 per hour and you made a saving of $50, get them to understand that it would take you nearly two hours at work to make this money.

The Richest Man in Babylon is one of the oldest books around. Written by George S Clason in 1955, this book has been acclaimed as a modern day classic and has helped millions of readers get on the road to increasing their personal wealth. It's a great book to read to your children to teach them about money principles as it is told in an entertaining fable about finance. There are a number of valuable lessons taught in this book, with the Pay Yourself First principle being the most important. It also looks at how forming great habits will make a massive difference to their financial results, how having their money work for them increases their wealth much faster than them working for it and how separating their needs from wants helps reduce expenses, therefore providing them with more income to save and invest. This is a must read and is a great book to read to your kids at bedtime.

About the Author:
Ways for kids to earn money is the most recent project for international author and speaker Nicole Clemow. In her search to find new ways for kids to earn money, she has written a ground breaking new book. Check it out here at http://www.waysforkidstoearnmoney.org for your free chapter and other bonuses.



Article Originally Published On: http://www.articlesnatch.com


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