Thursday, January 17, 2013

Playdate with a Purpose Jan 2013: Mindful with Money

On Monday, January 7 we held our 2013 Kick-off Playdate with a Purpose. Our hope was to teach kids about money with a "Save Spend Share" bank. At the end of this year, we hope to hold a Year-end Party where the kids can open their "Share" banks and choose to make donations to a few local charities.

SESLOC Credit Union generously donated some “Moonjar” three-part cardboard banks with "Save," "Spend," and "Share" sections. There are similar ideas online including those below.

We were also blessed with a musical performance from Heidi Harmon of Boo Boo Records fame!! Thank you Ms. Heidi!

If you weren't able make our Playdate, but you'd like to participate in this all-year-long lesson about money, there are a couple ideas about allowances, saving, and multi-compartment banks linked below. The most important step is to just talk to your kids about money. Give a lesson in how money is used to buy things by talking up prices at the grocery store: “This milk costs four dollars,” or “Your favorite cereal is five dollars.”

A "Love and Logic" teacher once suggested that young kids be given an allowance at an early age, as soon as kids can understand the concept of saving, spending, and sharing. There are many thoughts on how to structure allowances, and we encourage you to find a system that works for your family.

Links:
Spend-Save-Give Banks
Money Savy Pig