Understanding the basics of money management is an invaluable lesson that will last your child a lifetime. It's even better when you can show them how putting aside some money for charity can help others in need worldwide - including children just like them!
- Take your child to the grocery store and show them tortillas, rice, and/or potatoes. Explain how in many countries, kids just like them only have those items to eat, meaning they don't receive all of the nutrients they need. Together, figure out how many vitamins you can donate for the cost of each item (hint: 25 cents = vitamins for 1 child).
- Go through your child's toy box and have them pull out toys they don't play with anymore or have outgrown. Explain that kids around the world don't all have lots of toys to choose from, and encourage your child to sell theirs at a garage sale to raise money for kids in need.
- Sit down with your child and break down their allowance, or how much money they earn for each chore they complete. Explain that as little as 25 cents (a quarter) can help a child in need have a healthier life. Ask if they would like to set a goal for the number of children they want to help. Together map out a plan for how much to save weekly or which chores they'll need to do to reach their goal.