Family Activity 4: Be Smart About Spending
Getting Started
Prepare for this activity by reviewing these important tips for talking to your kids about money. Did you realize that your children watch you spend money every day? Talk to them about the different ways that you pay for things. Be sure to explain the differences between cash, debit, and credit. Discuss when it's a good idea to use each form of payment, and ways your kids can avoid overspending.
Be Smart About Spending
An important element of money smarts is knowing when to use each form of payment. Use the Activity 4 Printable (PDF): "Be Smart About Spending" to see how much your child has learned about cash, debit, and credit. (Answers: A and C—debit; B and D—credit.)
Now Try This
Invite your children to think about smart spending. Explain that it is important to research products before you make purchases. Also discuss the concept of a need versus a want. Use these ideas to complete the Bonus Activity 4 Printable (PDF): "Superheroes Do Their Research" together. Then encourage your child to research purchases they'd like to make using the Kids Spend activity printables (see links below).
- Bonus Activity 4 Printable (PDF): "Superheroes Do Their Research"
- Kids Spend Activity Printable (PDF): "Spend Wisely" (Ages 6-8)
- Kids Spend Activity Printable (PDF): "Spend Wisely" (Ages 9-11)
Bonus Activities Answer Key (PDF)
More Family Activities
Continue developing your child's money smarts with the following family activities:
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Family Activity 1: Develop a Money Guideline
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Family Activity 2: Set a Savings Goal
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