Creative Ways to Teach Kids About Money

SUSIE GHARIB: When it comes to teaching your kids about money, it`s all about creativity. Alisa Weinstein explains in tonight`s “Kids and Cash.” She`s author of “Earn It, Learn It.”

ALISA WEINSTEIN, AUTHOR, “EARN IT, LEARN IT”: Who knew money had a creative side? Oh, but it does. Money can bring out the creativity in kids as much as a new watercolor paint set. And this is huge: thinking creatively is a life skill we want our kids to have in their back pockets for personal and professional growth. So how can cold, hard cash help? Use money as a tool for creative thinking. Give your kid a few bills — like a 10, two fives and three ones — and ask her to give you $12 two different ways. Or give her markers and paper and have her make up her own family currency — money she can use to buy things like an extra 15 minutes up at bedtime.

Plan a menu and have your child figure out how much it would cost to feed 10 people. Assume five more friends want to come and have her do it again for 15. Then scour the newspaper, creatively using coupons to save on your big meal. Activities like these help children better understand how cash works and because they`re fun, they`re more likely to pay attention. Even better, your kids practicing being creative, resourceful and fiscally smart — all at the same time. I`m Alisa Weinstein.

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