Allowance is a hot topic in my daughter’s second grade class. Last week, her school hosted a gigantic book fair and kids were given the opportunity to shop during recess.
Of course, that meant administrators had to modify their “no money on school property” rule. For the fair’s three-day run, students were allowed to bring up to $40 in cash and keep it in their backpacks until it was time to shop.
Naturally, my daughter begged to bring 40 bucks to school.
“Do you have 40 dollars?” I asked.
“No, but you can give me it,” she responded without hesitation.
Needless to say, that comment led to a lengthy discussion on allowance, spending and financial responsibility.
I’m pretty sure most of what I said went in one ear and out the other. However, I am not deterred. In fact, after learning that my daughter is holding tight to the idea that money grows in mommy’s wallet I decided to consult the experts.
The online experts at the U.S. Mint.
A few years ago I did TV news story on the efforts the government is making to help parents teach children the value of money.
Currently, the U.S. Mint has one of the nation’s best financial online teaching tools for kids. The site contains a host of interactive games designed to help kids handle money properly. There are more than a dozen different engaging activities featuring puzzles, funny characters and other age appropriate brain teasers.
Another money-related activity that is worth checking out is the Allowance Game featured on EducationalLearningGames.com. Designed for kids in grades 3 through 8, the popular game teaches youngsters about earning and saving money through various tasks, such as mowing the lawn and doing the dishes. Once kids earn money, they are exposed to different spending temptations, such as ice cream, toys and pets.
EducationalLearningGames.com. also features a fun game for younger kids. Cash Bash has kids racing to add coins to an electronic bank before the timer runs out. The game helps kids hone their math skills and teaches them that while it is easy to bleed through money, there are many benefits to saving your hard-earned cash.