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	<title>Comments on: Teaching Children About Money - Guest Post</title>
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	<link>http://www.josephsangl.com/2008/07/19/teaching-children-about-money-guest-post/</link>
	<description>Personal Finances Blog Personal Finance Tools Dave Ramsey David Bach Robert Kiyosaki Debt Relief Investing Compound Interest Saving</description>
	<pubDate>Thu, 08 Jan 2009 11:24:16 +0000</pubDate>
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		<title>By: Angela</title>
		<link>http://www.josephsangl.com/2008/07/19/teaching-children-about-money-guest-post/#comment-158299</link>
		<dc:creator>Angela</dc:creator>
		<pubDate>Mon, 21 Jul 2008 17:12:03 +0000</pubDate>
		<guid isPermaLink="false">http://www.josephsangl.com/?p=776#comment-158299</guid>
		<description>Here's one way we've started teaching our kids about money and budgeting. 

Back story - During the summer months we take our kids to different activities but only spend $2 per week per kid.  The first week I took them to free movies at the local theatre and then bought them popcorn and drink for $1 each.  My 5yr old wanted to play a game that cost $1 to which I replied we spent your allotted $2 this week already.  His reply was he would not have spent his money on popcorn but would have wanted a game instead.

SO what I did was create a page of photos of activities and how much they cost.  Under the free was a picture of the library story time, movies, park, pool, etc.  Under $1 items I had more pictures and Under $2 I had other pictures.  I went online and printed off $1 bills for each kid.  At the beginning of the week I give them their 2 $1 bills and they give them back to me when they want to spend them.  

Now my kids have gotten creative. They discovered that if they read 10 books the library gives them a coupon for a local restaurant so they can have a free activity.  It's amazing b/c my children (3 and 5) are coming up their own way of spending more and how to NOT spend money.  They are now looking at the groceries and will point out which product looks the same but cost less. That's just my 2 cents worth. :)</description>
		<content:encoded><![CDATA[<p>Here&#8217;s one way we&#8217;ve started teaching our kids about money and budgeting. </p>
<p>Back story - During the summer months we take our kids to different activities but only spend $2 per week per kid.  The first week I took them to free movies at the local theatre and then bought them popcorn and drink for $1 each.  My 5yr old wanted to play a game that cost $1 to which I replied we spent your allotted $2 this week already.  His reply was he would not have spent his money on popcorn but would have wanted a game instead.</p>
<p>SO what I did was create a page of photos of activities and how much they cost.  Under the free was a picture of the library story time, movies, park, pool, etc.  Under $1 items I had more pictures and Under $2 I had other pictures.  I went online and printed off $1 bills for each kid.  At the beginning of the week I give them their 2 $1 bills and they give them back to me when they want to spend them.  </p>
<p>Now my kids have gotten creative. They discovered that if they read 10 books the library gives them a coupon for a local restaurant so they can have a free activity.  It&#8217;s amazing b/c my children (3 and 5) are coming up their own way of spending more and how to NOT spend money.  They are now looking at the groceries and will point out which product looks the same but cost less. That&#8217;s just my 2 cents worth. <img src='http://www.josephsangl.com/wp-includes/images/smilies/icon_smile.gif' alt=':)' class='wp-smiley' /></p>
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