Pick up money management skills during the summer holidays
Summer is a time where parents busy themselves by organising various activities for their children to keep them busy during the holidays. While they are happy to see their children master new knowledge and skills, they can also end up spending a significant amount of money. Therefore, striking a balance between practicality and affordability is key.
In fact, a happy and meaningful summer need not cost a lot. Here are some tips for parents and children to enjoy a wonderful summer on a budget and learn about money concepts through everyday activities.
Fun experiences for free
Incorporate some free and enriching activities such as visiting parks, picnicking, cycling or playing the free games and resources from The IFEC Chin Family Parenting and Money Portal. These simple activities will show children that they can get happiness for free.
Money Challenge Kit: 5 Money management activities for your children! (Download)
Teach children about money when shopping
Bring children to supermarkets or wet markets and shop with cash. Let them learn to compare prices, calculate the correct amounts, and make payments. During the process, they will also learn to distinguish between “needs” and “wants”. Parents can make use of the growing trend of online shopping to introduce their older children to its advantages and risks.
Worksheet: Kids Go Shopping: Shopping Around (Download)
Worksheet: Kids Go Shopping: Learn to Shop (Download)
Worksheet: Online Shopping (Download)
Learn through play with free teaching materials
An effective way for children to learn is through hands-on activities and games that help them develop interest in money matters. Parents can use the free resources available online such as the games and activities resources from The IFEC Chin Family Parenting and Money Portal for a fun financial management learning experience.
29 Jul 2022