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Ideas- I am going to try to do an economics project with my kids


Forum: Learning Disabilities and Special Education

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  #1  
July 22nd, 2007, 10:14 AM
pattyandthemoos's Avatar Administrator
Join Date: Feb 2004
Location: Michigan
Posts: 61,642
My kids are just not quite getting how money works. They know I have to go to the bank to get out money but they don't quite understand that I don't just have an endless supply of money. LOL. I would like to work on a project to help teach them more about how to handle money and how things work.

I was thinking of setting up some type of pretend store or job or something like that where they could earn money and them maybe have a pretend checking account. I haven't thought this all the way through. My kids are kind of young so I don't want it to be too advanced but I would like it to be something that teaches them the basics.

I would love any ideas from all you smart ladies!
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  #2  
July 22nd, 2007, 04:11 PM
joandsarah77's Avatar Platinum Supermommy
Join Date: Jan 2006
Location: Australia
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That might work if they are motivated to come and buy. We started giving sarah pocket money to try and teach about money but Sarah never thinks to ask for it, and dh never remembers to give it! So it is left to me (I also forget!) to say something when we go to the shops about how much pocket money she is owed. Real hit and miss around here. I figure when she gets older she will be more motivated to actualy ask for it. lol.
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  #3  
July 22nd, 2007, 06:22 PM
dbltrbl's Avatar Veteran
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Location: Florida
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It sounds like a great idea!

This is probably too old for your children, but I had read a book that told about a mother that would loan her children money for items they wanted to buy, but hadn't saved enough money for. They had to pay her back from their allowances plus a small amount of interest. They had to do chores to learn their allowances. Anyway, if they were late, she would repossess the item. They had to get their payments up to date to get the item back. She had said she actually hoped they would miss payments, it would teach them the importance of paying credit items on time.

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  #4  
July 22nd, 2007, 06:27 PM
pattyandthemoos's Avatar Administrator
Join Date: Feb 2004
Location: Michigan
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Quote:
It sounds like a great idea!

This is probably too old for your children, but I had read a book that told about a mother that would loan her children money for items they wanted to buy, but hadn't saved enough money for. They had to pay her back from their allowances plus a small amount of interest. They had to do chores to learn their allowances. Anyway, if they were late, she would repossess the item. They had to get their payments up to date to get the item back. She had said she actually hoped they would miss payments, it would teach them the importance of paying credit items on time.[/b]
Oh that is really great. I am going to try to figure out how I can do some of this on their level. Thanks for the ideas!!!
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