Grade 1 Lesson 4: #Savings
#Saving is when you take a portion of you what you earn, and instead of #spending it now, you park it away to use later. Your #earnings could be from your #allowance, #pocketmoney, #job, #business etc. Any #money that you park away for the #future is your savings.
Saving is something every kid should learn about and do. It lets you #buy items that otherwise might be out of reach, keeps you out of #financial #trouble, and makes you more independent. Often, it means you can do more. Subsequently, you can feel happier. Most importantly, saving gets you to keep your eye on your #dreams. #Set #goals. #Look #ahead. With saving, you can make things happen!
Here is a simple exercise that you may want to do with your #kids to help them understand the concept of savings. Create a "savings" money jar (or its digital equivalent) for your kids. Have your kids start saving portions of their #allowances or #giftmoney they receive from family, the tooth fairy, or from doing basic chores. Once this jar is full, have a discussion with them on what they would like to do with the money. Explain to them that they can use the money to buy something bigger (i.e. #spend) and/or #invest the money and/or #giveback.
#finance #financialliteracy #education