Kids and Money

Updated 12 months ago

Walk through these questions with your kids, or the kids you influence, and you will cover so much about finance, money, printing, work that these are good for any age group because of the depth in which these topics can be covered. What is money? – Money doesn’t ‘grow on trees.’ But is used for trade. It’s printed at the Bureau of Engraving and Printing in Washington, DC. Coins are produced by the US Mint. Other things to talk about could be before there were dollar bills and coins what used to be used for trade? What the advantages of using money?How do we receive it? – Gifts, allowance even a job are all ways we get money. Sometimes we find it in the couch. If you want more money what might you do? What do grownups do when they want more money?How do we spend it?- We spend money on needs and wants, on goods and services. But every time you spend it on one thing, your forgo money’s use on another thing. This is opportunity cost. That is quite a discussion.Money options- One can spend, save or invest. What do all those things mean? When you save money at a financial institution they then lend money to folks starting businesses in the community, or folks buying houses or cars. When you save money at a financial institution how can you get it back out? There are checks and debit cards. You can see your account online. How does someone apply for a loan? Making a budget – If have all these things that I want to do with a limited amount of money. How do I do that? You can wait and save. You could be frugal and get more for less. You could make more money.So many things to talk about! And all from one kids coloring book. You can make this as easy to grasp, or as detailed and nuanced, as your imagination takes you. You can have field trips, ask friends who work in different fields chat with the kids. Just make sure you talk about it.Marion Syversen, MBANorumbegaFinancial207.862.2952Marion@NorumbegaFinancial.comCheck out our website that includes weekly streaming videosWWW.NorumbegaFinancial.com Disclosure:Only securities and advisory services offered through Wall Street Financial Group, Inc. Registered Investment Advisor. Member FINRA/SIPC. Wall Street Financial Group, Inc. and Norumbega Financial are separate entities, independently owned and operated.


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