I believe it is very important for parents to teach their child about money and the responsibilities that go with it. My children recycle aluminum cans from the neighborhood in order to make extra money. They have neighbors who save the cans aside from their recycling each week and the kids make a weekly run through the neighborhood picking up their cans. I helped them get this started with fliers, emails and a few phone calls. Now it is their responsibility to pick up their cans. We have been doing this for a year and a half now and they are always more “can hungry” before vacation, holidays and any other times where they will need a little extra money.
The kids are expected to help around the house and are not paid a weekly allowance. After seeing me and all my coupons and newspapers hunting for the holiday sales, they now compare prices when shopping themselves. They buy each other birthday and Christmas gifts from their can earnings and have personal limits of what they would like to spend. My oldest will even compare activities and their costs before selecting what he’d like our family to do for the weekend. For example, “We could rent a few Redbox movies, order pizza, and buy a new board game or we could all go to the theater. Most often, he will choose the first option because he will enjoy the night of home movies, but will also come out ahead with a game that he can keep.”
I have been contacted by T. Rowe Price, the sponsor of The Great Piggy Bank Adventure at Epcot. They wanted to share information about www.TheGreatPiggyBankAdventure.com which is an online game that can be used to teach financial literacy to children. Check this free online game out, it is lots of fun and designed for kids ages 8 to 14. You can visit The Great Piggy Bank Adventure at INNOVATIONS at Epcot in Walt Disney World. This is an interactive experience that “combines physical and virtual elements to create fun-filled learning challenges that the entire family can enjoy.”
T. Rowe Price is so dedicated towards teaching kids financial literacy, that he has given me an American Express Gift Card for my time and a Great Piggy Bank Adventure Flip Cam to be given away to my readers! The Giveaway Is now ENDED.
Answer one of the following questions from T. Rowe Price in the form of a comment, found at the top right of this post.
Due to shipping costs, this contest is open to U.S. addresses only.
Here are the questions from THE GREAT PIGGY BANK ADVENTURE GIVEAWAY…… You must choose at least one to comment on in order to be included in the drawing.
1. When do you talk to your kids about money?
2. Do you talk to your kids about money at the ATM or grocery store?
3. How do you teach your kids about financial concepts in the news today such as inflation and setting financial goals like saving for college?
4. When you give your kids an allowance, do you ask them to set a goal for their spending and / or talk about ways to spend wisely?
5. Do you ever use items in the news, such as inflation, as a chance to teach your kids about the concept? If so, what have you found works well to help them understand inflation or other financial concepts?
For additional entries:
*Answer more of the questions from above. Make sure to leave each answer in a separate comment in order to receive multiple entries.
Thank you so much! T. Rowe Price cannot wait to hear your comments! Good Luck!“A gift card and the Great Piggy Bank Adventure-branded Flip Camera have been provided courtesy of T. Rowe Price. T. Rowe Price is not involved in or responsible for the outcome of this giveaway.”