Tips to Develop Your Child’s Financial Senses (Part 2)

INVOLVE CHILDREN IN PURCHASE TRANSACTIONS

• Teachable moments occur each time you are at a cash register with children.
• Children will quickly observe the exchange that occurs during the purchase transaction.
• This is a great time to explain the need to pay for items before we can take them home.
• When children want something in a store and the answer is "no," you may consider explaining that we don't have enough money for that item today and we need to save for it.
• Let your child hand over the payment and receive the change from the cashier.

MAKE THE PROCESS ENTERTAINING

• It is easy to integrate the building blocks of financial habits if they are part of your daily activities. Children love to explore uncharted territory. Make financial lessons fun like any new adventure.
• An entertaining and educational approach will help maintain a child's interest.