Fun Money: Learning Finance Through Stories
In This Article:
Questions for before the story
- Have you ever received money and tried really hard to save it?
- Why do you think it is hard to save money?
- What do you like to spend your money on?
- (Show the cover and read the title.) What do you already know from the cover and the title of the story?
- Before you begin reading, ask your child to figure out the amount of money in the numbers you read to them. For example, if Alexander had 3 quarters, 4 dimes, and 17 pennies, how much money would he have altogether? This is great practice and will help your child get a better concept of money as she listens to Alexander's tale of money troubles.
Questions for after the story
- You could say that Alexander's money was "burning a hole in his pocket." What does this expression mean?
- What did Alexander spend his money on? Would you spend your money on the same things or would you choose something different?
- Why are his brothers able to save more money than Alexander?
Activities to do together
- Do the math! How much money did Alexander start out with? How much did he actually get to spend? How much money do Anthony and Nicholas still have? Work together to write word problems from the story, and do some money math to get the answers.
- Come up with some good money-making ideas. Alexander tries to sell the gum he has already chewed, pull out a tooth that's not loose, and return non-refundable bottles. Have your child make a list of some better ways to make money. Write her ideas on graph paper.
- Kids learn the value of money when they have a chance to earn and spend it. Having an allowance or spending money has a practical benefit: it gives children experience doing money math. If your family doesn't want to hand out real currency, try making coupons that are redeemable for various treats, like ice cream for dessert, or home-baked cookies or activities such as an extra bedtime story or a visit to the zoo. You can hand out a certain number of coupons in a month and your child can learn to save that way as well.
- You can reinforce the value of saving by offering some sort of dividend to your child if she manages to keep her money in a piggy bank. For example, you might offer to match the amount your child is trying to save when the goal is met, or contribute a dime for every dollar your child manages to save - a pretty generous interest rate!
- Show your child how to set up a simple ledger page to keep track of a budget and expenses. Try out some of the tools of the trade, such as a computer spreadsheet program.
- Have your child research recycling guidelinesin your community. Survey local stores to see which ones sell bottles that may be returned for a small refund.
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