Teaching Money Skills
Teaching Money Skills. Okay, so I kinda lost this footage. It was filmed about a year ago, whoops. So anyway, it's here now. I'm excited to share it with you. It's all about how to teach your children about money. This is gonna sound very bad, but I wanted my daughter to spend all of the money that she'd been accumulating over the last four years because I wanted her to know what it felt like to not have any money and then, in turn, know how to save, learn how to save. To be honest mamas, it's really hard to Teaching Money Skills to children how to use the money, how to spend money, the concept of money in general because they interpret us use a debit card and charge card all the time, right? It's very rare that they interpret us use currency, And when we do, they don't quite grasp the subject or how it operates. So anyway, that's what we're talking about today. You guys can watch what I do with my children in the store, and I have a few gratuities to share with you so you guys right now can replicate the same thing with your children at home and hopefully teach them about money.
So, let's get started. Teaching Money Skills at Walmart. We are gonna actually go and take all of Devyn and Rockwell's money and threw it in the coin thing and be seen to what extent much money they have because we need to learn the best interests of the money, huh guys? - Yeah. - Yep, we need to learn about money and how to use it and how to earn it and how to expand it, huh? What "think you're gonna" do with your money? - Leased it. -[ Melea] Rent it? - Yeah. -[ Melea] We're gonna throw it in and it's gonna count it for us and it's gonna give us dollars. - Yeah. -[ Melea] Sound good? -[ Devyn] Lots and lots of dollars. -[ Melea] How much money do you think you have? - I reckon I have 1,000 of them. -[ Melea] 1,000 dollars? - Mmhmm. -[ Melea] Well, okay. We'll see if you do. The first thing you crave to do is have your children cash in their coins so you can easily be seen to what extent much money they have.
We actually opted to pay eight to 10% costs to the Coinstar machine because I wanted to save those poor bank tellers from actually having to count all their pennies. They have a lot. But actually having them be hands on, touch the screen, prove the machine counting their money, helps the children actually see what's going on and treated with the experience. And they get to see the amount get higher and higher on the screen, which is super merriment, too. You have 79 dollars. -[ Devyn]( gasps) 79 dollars? -[ Melea] Yeah, threw some of your money into there, okay?( rock music) A dollar 35, awesome. High-pitched fives. - Good task Rockwell. 85 dollars. -[ Melea] Holy crap, exactly what we-we guessed to do with 85 dollars? - I want to buy paint -[ Melea] Paint. -[ Devyn] and new color journals. -[ Melea] And new color journals, uh huh.( rock music) - Watch out Rock. Hey, look down here. Ensure how every single, be seen to what extent there are amounts down here, Devyn? What amounts do they say? Seem down here. What do those amounts reply? -[ Devyn] Four, nine, seven. -[ Melea] Four dollars and 97 cents.
Okay, so they just four dollars each. -[ Devyn] Do I have four dollars? -[ Melea] You do have four dollars. Do you want to expand four dollars on that book? - Yeah. -[ Melea] Are you sure? Open it up and look at it and made to ensure that you like it. Rockwell, it says-- -[ Devyn] It's three, nine, seven dollars. -[ Melea] Four, nine, seven.
Can you say that? Four. -[ Rockwell] Four. -[ Melea] 97. -[ Rockwell] 97. -[ Melea] Okay, that's five dollars. Do you want to expand five dollars on that? Yeah. -[ Melea] Are you sure? - Yeah. -[ Melea] That's lots of money. Are you sure? - Yes, yes. -[ Melea] Are you sure you wish to spend 16 dollars? - Yes. -[ Melea] What if you don't have any money left? - Then I could get, then I could get them doing chores. -[ Melea] You're gonna deserve more money doing chores if you run out? - Yeah. -[ Melea] Okay, we have lots of paintbrushes Devyn. Ensure all these different kinds? -[ Devyn] Mmhmm. -[ Melea] Okay, so you can expand, this one is two dollars. -[ Devyn] Do I have two dollars? -[ Melea] Listen, this one is two dollars. This one is two dollars and 30 pennies. This one is three dollars. And these are four dollars. Which one is the less amount of money? - Two. -[ Melea] Two is a good job.
Okay, when it's time to psyche to check out, make sure you let the cashier know that you're trying to help your children learn about money. That path they can be on board, too and they're a bit nicer. So that ever helps. Then give them your currency receipt from Coinstar and make sure they the cashier hands your child physically the currency so they can actually interpret the money in their hand and watch it leave when they pay for their pieces. A young child needs to physically interpret the money leaving or they don't get the concept.( rock music) - Okay, that was our shopping trip.
I hope you guys learned how to Teaching Money Skills is something you are able to do with your children, but I actually have two more tips I want to share with you guys. The first one, which is pretty important you have to teach your kids to work for money. That means you need to help them do chores or have them do chores to earn money around the house. I will say that my little son Rockwell in this video was only two and a half when this was filmed and he was doing chores. So if "you've had" little, little kids like I do, they can do chores. They can dust. Rockwell actually gets those Lysol erases and moves around and cleans all of the doorknobs. So that's another thing little kids can do. He actually thinks it's quite a merriment. And you will find that your little kids who have older siblings love to help clean because they want to be like "the world's biggest" kids.
And the last tip-off I want to share with you guys has to do with sticking to your ideals. You have to stick to your ideals. Sometimes your children will be like, "Oh mom, "I'll pay you back later" Or "I'll do a job subsequently, but I really really need it." It's like having a reward before they've actually done the task. And little kids' minds don't work that path. So you have to make sure that they do the task first and then they reap the reward. Teaching Money Skills must be learned early. So try really really hard not to give into your kids.
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