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Summer Vacation - A Great Time to Teach the Value of Money

Updated: Aug 4, 2019

Summer is a great time to get kids excited about learning about money. There are many incentives during this vacation time that can help motivate them not only to learn about financial literacy but the get to really work on their entrepreneurship skills. Here are some fun ideas on teaching the value of money.

Summer chores. Giving younger kids chores this summer is not only a great way to have them earn their allowance, it also gives them something to do. Give them a financial goal to help motivate them to save their money through those summer months. Maybe it’s a costly toy or you can even motivate them by telling them you will match whatever they save.

Summer jobs. Summer jobs are a lot more fun than what a teenager may think. Some of my best memories I have was the summer months meeting new friends at my summer job. They can be a camp counselor, lifeguard or work at an amusement park. Not only are these jobs fun but most often they get to be surrounded by their peers making friends. When kids work their own summer jobs, they don’t have to keep asking you for money. Want to go to the movies or buy that new outfit that they wanted? They can buy it on their own without having to bother you.

Saving money for a vacation. Do you have a family vacation coming up this summer? This is a great incentive for kids to either earn money or save their money. Every parent knows that when you go on vacation with your children, many times they love to ask you to buy souvenirs. It’s so hard to purchase these items for your kids, especially when you know they will probably end up being forgotten the moment they get home. If it is their own money, then they don’t have to ask you for the things that they want.

Summer Vacation - A great time to teach the value of money, Ideas for parents about allowances and teaching kids about money and financial literacy, #4PocketAllowance

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