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Category: Save Money

Money Lessons to Teach Your Kids

As a parent, you might wonder how to start teaching your children about money. There are several educational money games we can use to keep our kids attentive while having fun at the same time. We can use Kinderkonto Vergleich for your kids’ allowance accounts, but it is also as equally crucial for them to understand the basics of money.

When can you introduce these money games that are educational and useful for your child? It would be best if you started playing these games while your kids are still in pre-school. Beginning with simple money games will help them differentiate coins and values. You can continue with secondary money games with them once you have mastered the skills from the introductory money games, which will allow your child to test his skills.

coin stacks

Introductory Money Games

Children have shown that they understand something when they play and have fun. A list of educational money fun games can be used to teach children the facets of money and the basics.

The first thing to do is to familiarize yourself with coins and their value if you want to teach your children something. Teach kids on stacking coins with the same amount. It is for the kids to be familiar with the different money amounts.

Coin flashcards and coin memory are games that we can teach our kids as well. Coin flashcards are a game by taping coins with similar values and putting them face-down, and children try to match coins with two cards at a time. Coin memory is a game on describing the differences between coin sizes. We use two different currencies and explain to kids the distinct features of each coin.

Secondary Money Games

girl piggybankAfter your kids have mastered the introductory money games, it is time to move on to secondary money games. These games are an application of how we use money in real-life situations. Here are some money games

You can still play money games. Your child will be happy to know exactly how much money he needs in this exciting world and what money he needs. Here are three money and fair games for fun.

Sweetshop – create a fake candy store. Put the different types of candy and the prices above them. Give your children a bag of coins for them to practice buying sweets for themselves. Once they get used to this game, try changing the prices and putting more candies on the shop will make this game more challenging.

Bank Teller – For this game, you will be assigning your kids as the bank teller and you as the customer. You will have checks to cash in, and you will help your kids choose the correct coin to give.

The Importance of Money Games

Teaching your child about the basics of money is educational for them. Keep your children interested, but make sure to start slow while working your way up to more intermediate money games.

By allowing them to participate in real-life situations and play these kinds of games, you teach them the value of money and how vital it is in our everyday lives.

How to Set and Meet your Saving Goal

Saving is not always easy. It is one thing to decide to save your money, but it a whole different thing to follow the plan to the end. Most of the time, we are distracted by other issues, and we end up not meeting our saving goal.

If you have been making a decision to save, but somehow you have never met the goal, then it is time to re-evaluate your choices and do proper planning. Here are some tips that will help you in achieving your saving goal:

Set Specific Goals

notes in a jarMaking sure that you set specific goals is essential. The goals that you set should be clear, and they should have a timeline. In case you want to buy a house, then it is only wise enough to set a specific timeline so that you can know how to meet your target.

The goals can be long-term, and they can also be short term. For instance, you can set short-term saving goals of less than one year if you want to get new furniture. It is all about learning how to break down your goals into specific timelines.

Automatic Payments

Setting automatic payments is the best way to adhere to your saving goal. Make sure that the money is deducted at the source and credited to your savings account.

Automatic payments are the sure way to avoid spending money that is meant for saving. When the money is deducted directly to your saving account, you will be sure that you have met your saving obligation in advance.

Set Milestones

Setting milestones is an excellent way to stay motivated. Sometimes when the saving goal is too far away, then it can seem like an endless journey, and this can make you feel demotivated.

The good news is that you can stay motivated by setting specific milestones. If you are planning to save $5000 per year, then you can break down the amount into daily or even weekly amounts so that you stay motivated.

counting notes

Be Flexible

Many people think that saving is all about creating a plan and sticking with it. This is not always true. Sometimes you need to be flexible. You do not have to stick to a plan that is no longer working for you. In case of lifestyle changes, you might need to change your saving plan to fit your new life.