Friday, October 24, 2008

Frugal Friday - Kids and the value of money

I know there are many, many ways to help teach our children the value of money. Recently our 1st grader has been studying coins and our 3rd grader is learning about making change, etc. This all helps when they look at the change in your purse and realize just how much money you have to spend on something! But WB and I sort of both came up with the idea that we could give them a certain amount of money and take them to the store to buy something. A couple of ideas are:

1: Write down the price of their favorite meals when we go out to eat add it together and then give them that amount of money to go to the store with. Help them plan a home meal and then search for the ingredients, they have to pay with their money. Quickly they realize that with the money we spend on their two out to eat meals we could feed the entire family spaghetti, salad, and some bread. Wow!!! It's fun to watch their eyes pop:)

2: Those packaged sweets they always beg me to get at the grocery I rarely give in to because of nutrition as well as cost. But every once in awhile I say yes. Give them a few dollars and see how much prepackaged sweets they could buy as opposed to making something from scratch...like a cake mix for cupcakes. They will quickly see they could get more for their dollar by making it themselves. Not to mention it won't have all the preservatives etc.

I know there are tons more examples along these lines, but so far these have made an impact on my older girls. It's important that they understand that being frugal is not a terrible thing, just a smart choice:)

Since Biblical Womanhood is still on a blogging break you can head over to my mother-in-law Pat's blog to see another frugal Friday tip:)

3 comments:

Pat's Place said...

You are developing a couple of "smart cookies" by teaching them how to stretch their dollars. It may be a lesson they HAVE to use in the future--both in your family and when they are out on their own. Good for you!!

Edi said...

I like the idea of giving the kids the $ amount of their fave meals and going to the store to see how much more it could buy.

We've pretty much decided when we eat out at a fast food place we will ALL buy kid's meals (if possible)...saves $ and saves calories! Though sometimes I do order an extra french fry :)

Luke Gedeon said...

Of course, that will back-fire when they realize how much more expensive organic fruit is than the pesticide version. :)