A “Lets Pretend” Game to Help Teach Your Grade Schooler to Manage Money

I’m spending the month preparing for my 2014 Grandma Rie’s Money Camp session which will be held at the end of July this year. This year’s camp changed location to take advantage of a Federal Reserve tour, tours of my own banks as well as a great location for a busy garage sale to house their annual kid business.

The main theme is going to be all about saving. Why save, where to save (that is where the bank tours come in) and how to save. Part of the lessons will involve learning how to track their money, and introduction to the B word (budget). To demonstrate why people need to save and why folks need to plan and manage their money, we are going to try out a pretend play game I made up.

Today, I’m sharing that with you, in case you want to try it but also to see if you have any suggestions that I can incorporate to make it more interesting to my 7 and 10 year old grand-kids.

Lets get started. Continue reading

Grandma Rie’s 2013 Money Camp – Part Three

coinsTeaching the next generation to successfully handle money and personal finances is normally a family responsibility. Although parents bear much of the burden to teach, train and model good personal finance, extended family members can also contribute.

Although my grown children do very well in the personal finance arena, they learned from us by osmosis, without any special or formal training by my spouse or I. When they presented me with grandchildren, I vowed that I would take an active part in teaching financial literacy to them.

As a result, I started a one week ‘Grandma Rie’s Money Camp‘ in 2011 and held our third annual one this year. In my last post on Money Camp, I gave you information on what we did and used with more of the money concepts covered in this year’s camp – Earning and saving.

Today, I will give you information on what we did and used with remaining concepts. Continue reading

Grandma Rie’s 2013 Money Camp – Part Two

Smudged shop

Their business – Earning money!

Teaching the next generation to successfully handle money and personal finances is normally a family responsibility. Although parents bear much of the burden to teach, train and model good personal finance, extended family members can also contribute.

Although my grown children do very well in the personal finance arena, they learned from us by osmosis, without any special or formal training by my spouse or I. When they presented me with grandchildren, I vowed that I would take an active part in teaching financial literacy to them.

As a result, I started a one week ‘Grandma Rie’s Money Camp’ in 2011 and held our third annual one this year. In my last post on Money Camp, we covered our activities in two of the concepts covered this year – compound interest and needs vs. wants.

Today, I will give you information on what we did and used with more of the money concepts covered in this year’s camp – Earning and saving. Continue reading

Grandma Rie’s 2013 Money Camp – Part One

Grandma Rie's Money CampTeaching the next generation to successfully handle money and personal finances is normally a family responsibility. Although parents bear much of the burden to teach, train and model good personal finance, extended family members can also contribute.

Although my grown children do very well in the personal finance arena, they learned from us by osmosis, without any special or formal training by my spouse or I. When they presented me with grandchildren, I vowed that I would take an active part in teaching financial literacy to them.

As a result, I started a one week ‘Grandma Rie’s Money Camp‘ in 2011 and held our third annual one this year. Continue reading

Teach You Kids to Be Entrepreneurs – Make Soap

One of my goals as a Grandmother is to help my kids teach their kids about personal finance. I’m hoping they will learn to be entrepreneurs as well as learn to be savers, investors and sound money managers.

As part of that goal, I hold what I call ‘Grandma Rie’s Money Camp’ each summer. During camp I always provide opportunities for the Grandkids to earn money – by tackling jobs I hire them to do or by having a ‘business’ for a day or two. One year, their business was a car wash, another year they had a lemonade type stand.

SoapsThis year I am going to try to get them to make a product and it will be melt and pour soap.

Here is how I will teach them about running a business which makes a product. Continue reading

Best Holiday Buys to Teach Kids About Money

It’s that wonderful time of year again and as I said in my last couple of posts, I’m trying something new this year that I hope will help you with your gift shopping needs.

Family Money Values blog and site will both publish frequent ‘best buy’ type articles intended to share with you products we like and use that will help your family to use your values to keep your family’s wealth and well being for generations to come.

If you read my blog, you know I hold Grandma Rie’s Money Camp each year for my two grandchildren. As a result of planning for that each year, I have been on a search for ways to teach young children personal finance concepts. Here is what I have found so far and what may help you with your kids and grandkids too. I have used these products, or some version of them and they have worked well with my now 4 and 8 year old grandchildren.

They make nice holiday presents that you can use with them all year long. Continue reading