Kids, the Fair, and Money Management 101
A day at the fair is about making memories, but it can be a fun learning opportunity too. With a small budget and some gentle guidance, you can enjoy time with your children while also giving them a chance to practice age-appropriate money management.
Before going to the fair, talk about the different ways they might spend money - snacks, rides, games, toys, face painting, etc. This gives them time to think about their options ahead of time so the choices are less overwhelming.
It’s easy to lose track of spending while taking in all the fair’s sensory input. Help them keep track of how much they’ve spent. If they’re old enough, you can also encourage them to keep their receipts to review later. They can add up their expenses when they get home and see if they feel satisfied with their choices or might choose differently next time.
It can be frustrating to give your child money only to see them spend it on something questionable, so only give them an amount you’re comfortable letting go. Managing money takes practice. Giving them a hands-on opportunity now can help them learn an important skill they’ll have their entire lives.
By providing them with a little spending power, you can give kids a fun experience that supports their lifelong financial literacy. Remember to keep the experience enjoyable and stress-free, focusing on fun and learning. Enjoy your time together at the fair!
Give them a small discretionary budget.
Before going to the fair, talk about the different ways they might spend money - snacks, rides, games, toys, face painting, etc. This gives them time to think about their options ahead of time so the choices are less overwhelming.
Encourage them to do the math.
It’s easy to lose track of spending while taking in all the fair’s sensory input. Help them keep track of how much they’ve spent. If they’re old enough, you can also encourage them to keep their receipts to review later. They can add up their expenses when they get home and see if they feel satisfied with their choices or might choose differently next time.
Keep it fun!
It can be frustrating to give your child money only to see them spend it on something questionable, so only give them an amount you’re comfortable letting go. Managing money takes practice. Giving them a hands-on opportunity now can help them learn an important skill they’ll have their entire lives.
By providing them with a little spending power, you can give kids a fun experience that supports their lifelong financial literacy. Remember to keep the experience enjoyable and stress-free, focusing on fun and learning. Enjoy your time together at the fair!