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Amanda L Grossman
610 followers -
Hey-ooo! I teach kids aged 8-13 how to save money through Money Educational Adventures, like the Mt. Everest Money Simulation.
Hey-ooo! I teach kids aged 8-13 how to save money through Money Educational Adventures, like the Mt. Everest Money Simulation.

610 followers
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There’s almost no better learning than naturally discovering the lessons by yourself -- especially money skills for kids and practical life skills.

And with a little prep work, we parents can help make this happen for our kid(dos) by presenting challenges for kids!

I’ve included 11 kid money challenge ideas for children below that will naturally help them learn practical money skills.

Don't forget, have some fun with this! Here's your Kid Money challenges list.

#moneyskillsforkids #practicalmoneyskills
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Should kids get allowance?

Well, if done right, an allowance can be like a set of training wheels. Money ones, that is.

It can prep your kiddo for what to do with the consistent income they will (hopefully) earn one day.

But if done incorrectly? Well, it could instill some not-so-desirable money behaviors in your child that could hurt their future bank accounts one day.

https://www.moneyprodigy.com/should-kids-get-allowance-3-mistakes-parents-make/
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Massive article on how to teach your kids to save money. If you're stumped about how to do so, then I've got a FUN summer project for your family: Create your first-ever Family Savings Goal!!

Kids learn a lot from modeled behavior. And they might be really intimidated by the idea of setting a savings goal.

So instead of focusing on getting each of your kid(dos) to set their own savings goals and coaching them through the process, set a savings goal for the entire family – one that benefits each family member in some way so that they have a stake in it – to work together to meet. Talk about an awesome way to illustrate some of the challenges and high points of setting a goal + actually seeing it through!

https://www.moneyprodigy.com/how-to-teach-your-kids-to-save-money-create-a-family-savings-goal/
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One of the most CRITICAL life skills for kids? Learn how to manage your money!

We're shaking things up with Monopoly. The next time your family sits down to play, print out your Financial Hardship cards and have a go. It's better your child self-discovers the suckiness of some financial situations during a fun round of Monopoly NOW -- before they can make the moves put them into these hardships as a young adult.

https://www.moneyprodigy.com/6-game-changing-monopoly-money-life-skills-kids/

Such as:

:: Taking on Student Loan Debt
:: Getting sent to Collections
:: Being in Debt to someone you know
:: Starting Up a Biz

#lifeskillsforkids
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Tired of lemonade stands to teach kids how to make a profit? Try my free Winter Beverage Taste Testing Competition -- family activity! Can go on your list of fun things to do in the winter as a family.
https://www.moneyprodigy.com/fun-things-to-do-in-the-winter-host-outdoor-taste-testing/ … … #kidsandmoney, #kids, #financialliteracy, #printable, #homeschooling

#funthingstodointhewinter
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Have you ever heard the phrase Teachable Moment?

A Teachable Moment is a specific time that is ripe for a conversation or lesson because your kid(dos)’ interest about a subject is peaked.

Why would that moment in time be the right one to give a lesson?

Well, when your child is highly interested in something – either because a situation has presented itself in real life (IRL), or because they’re just into it (you know how kids go through crazy phases!) –then they’re way more likely to not only listen, but to absorb what you’re saying.

Lucky for us, life takes money. Which means money situations are all around us. So teachable money moments are everywhere – both in your own life and in your child’s life.

Yet, it’s not exactly second nature for all of us to identify these moments and capitalize on them to teach our children something.

So, I wanted to offer up 5 examples from my blogging friends about actual moments they took to teach money lessons to their kids, IRL.

#teachablemoment

https://www.moneyprodigy.com/5-teachable-moment-money/
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My husband and I found ourselves in a 7-month long battle to dispute medical bill from two years ago. The kicker? It was for a preventative care appointment for our two-month old son (you know, the kind that is 100% covered under the Affordable Care Act)?

Well, there's a bit more that happened to send us down that debt rabbit hole.

And from that journey, I realized that many of you are also have to dispute erroneous medical bills.

Well, don't go it alone! Get the $1,097 Medical Bill Resolution Letter (FREE) that got us out of debt just 6 days after I wrote it.

https://www.frugalconfessions.com/debt/dispute-medical-bill-resolution-letter.php

#disputemedicalbill
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Saving money for kids...is it just not natural? Well, as with most things, whether or not that's a "natural" behavior depends on the child. Some kids are money-hoarders (I was in that category), and others repel savings sort of like The Grinch repels Christmas.

If your child is not a natural saver, then they're likely developing an allowance-to-allowance mentality...which could certainly lead to a paycheck-to-paycheck mentality. Check out these 3 allowance tweaks you could make to change things up so that they start to save a bit of that cash.

#savingmoneyforkids

http://www.moneyprodigy.com/saving-money-for-kids/
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Saving money for kids...does your child have an allowance-to-allowance mentality? You definitely don't want them to continue onto a paycheck-to-paycheck cycle. Here's how to get them off that path.

#savingmoneyforkids
http://www.moneyprodigy.com/saving-money-for-kids/
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We live in Houston, but fortunately are vacationing in Michigan at the moment. We are safe, and dry. But our stomachs are knotted watching the flood disaster devastation unfold in our home city, and just blocks from us. So far, our home is safe (I think I may have lost my car though because it was parked at the airport...bottom floor of the garage).

Two years ago there was substantial flooding in our area of Houston as well, and thankfully we were safe then. I took the time to put in a ton of research + interview lots of people who had flooded to understand better how flood insurance policies work.

Here's one of the articles in the series about 10 surprising money lessons I learned about Fema flood insurance program in the process of these interviews.

#flooddisaster, #femafloodinsurance

http://www.frugalconfessions.com/financial-health/10-surprising-financial-realities-i-learned-from-the-flood-disaster-near-our-home.php
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