Would You Pay $26 For Lemonade?

I found a great post on teaching kids about money.

"Toddler Money" "Family Finances" "Money Play" "Family and Life in Las Vegas"

 Emily at Family and Life in Las Vegas,  has a toddler and is using her experiences with money to teach her little one.  And what a better place to really learn about it than from right there in Sin City! Well maybe teaching the sins of gambling are too old for our toddlers, but we can start with the basics.

My hub and I are Dave Ramsey fans and for Christmas we gave our toddlers, ages 4 & 6, books and banks from the DR children's collection.

Our kids love these books! There are six in the boxed set and they tell stories of Junior or his friends not managing their money. For instance, one book is about going to the carnival and the kids waste all their money playing a pop-the-balloon game. They are left with no money for food, rides or other games. And, who can admit to wasting money on that balloon game? I sure can!

The banks are super, too.  As you can see, each is labeled to give, save and spend. We haven't progressed as much with these, but as our kids get older, I'm sure they will begin to understand and use them appropriately. To help them understand giving, we have them pick a few toys and stuffed animals to give at Christmas time. I couple this with our sponsorship of a family through the Salvation Army.

Our next step is to get savings accounts at our local bank and when they are ready to turn over their "money cups," we will show them the bank is a give and take or in and out facility. Right now they think a bank is just a place that  takes their money. (Well, we know there is some truth to that!)

In the meantime, our 6 year old says he will be selling lemonade at the corner all summer long.... for $26.25! Yes, he came up with that number. Next lesson: supply & demand! So what are you doing to teach your kids about money and finances? Have you found some great products or books? Do share! And don't forget to go check out Emily at Family and Life in Las Vegas

Lemonade, anyone?

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Family and Life in Las Vegas - Emily said...

Haha I love his price - that must be some fantastic lemonade. I didn't know Dave Ramsey had a kids series! Thanks for the tip!!

Lisa said...

What a fabulous idea! I wish I'd done this with my daughters when they were younger. I'm following you from the Welcome Wednesday Blog Hop.


SJ @ Homemaker On A Dime said...

Teaching kids about money matters while they're still young is one of the big responsibilities a parent should perform. Glad to hear that you're teaching them while young.

Btw, thank you for joining in our Swap Followings Linky party and helping make it a success! Hope you join us again next month :)

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