BUSINESS OF THE DAY: Master that Money!
First thing in the morning, give your child a $1 bill. Explain immediately that you are asking him or her to be responsible for keeping the $1 bill throughout the day because you will ask to see it at the end of the day.
THE PRESENTATION SLIDE WITH TODAY'S OBJECTIVES: Why You're Doing This
- Teach your child the importance of responsibility and money.
- Teach your child how and where to “keep” money on themselves in a safe spot, so they know where it is at all times.
- Introduce your child to the idea of saving for a specific purpose, and, perhaps, foregoing other purchases, so you can keep saving money.
THE FAMILY CONFERENCE CALL: Questions to Talk About Together
- Was there anything that you wanted to buy with that $1 bill?
- How hard or easy was it to keep your $1 bill in a safe spot?
- Did you show any friends your $1 bill?
- Did you think about your $1 bill throughout the day? What did you think about?
Parents, if your child makes it through the day, consider allowing her to spend it the next day on something - a snack, a small item, something from a dollar store, etc. Or make that opportunity a learning experience, so consider teaching him or her that that $1 could be the initial investment in saving for something bigger.