Christmas Cash for Kids: Fun Ways to Teach the Value of Money and Giving During the Festive Season
Jolly and merry time is coming up, but it’s also a great time to instil some valuable life lessons in our little ones. As we navigate through the festive season, teaching kids financial responsibility can be a gift that keeps on giving. Involving children in budgeting, decision-making, and imparting money management skills not only sets them up for a financially savvy future but also teaches them about gratitude, empathy, and the joy of giving back.
Why Budgeting Matters
When the festive spirit is high, it’s easy to get carried away with spending. But involving kids in budgeting decisions can help them understand the value of money better. Take some time to sit down as a family and plan out holiday expenses together. Encourage them to contribute their ideas on gift-giving and activities, setting a budget that aligns with your family’s financial situation. This not only teaches kids about financial planning but also about the importance of setting limits and making mindful choices.
Age-Appropriate Money Lessons
For Young Kids (Ages 3-7):
Santa’s Savings Jar: Introduce a fun way for kids to save money by decorating a jar where they can keep loose change or allowance for charity donations. They will grow up with the a beautiful sense of responsibility towards their own community.
Price Comparison Game: While shopping for gifts, involve kids in comparing prices to show them the importance of finding the best deals. Taking them to different stores will make them understand how deals can be different from place to place. Also showing them online how stores price their favourite items differently.
For Tweens (Ages 8-12):
Holiday Budget Challenge: Give kids a specific budget for buying gifts for family members, encouraging them to prioritise and plan purchases within that limit.
DIY Gift Making: Teach kids the value of handmade gifts as a thoughtful and cost-effective option. This makes them also explore and try new hobbies.
For Teens (Ages 13+):
Gift Exchange: Organise a gift exchange where teens have to budget and shop for a family member, learning the art of thoughtful gift-giving within a set budget.
Charity Donation Decision: Involve teens in selecting a charity to donate a portion of the holiday budget, fostering a spirit of giving back. If the family is used to giving away, this will be a great opportunity for the kids to get involved in the decision making.
Teaching Empathy and Gratitude
In a season focused on receiving, it’s important to guide kids towards understanding the joy of giving and sharing. Encourage them to participate in activities such as volunteering at a local shelter, donating toys, or making handmade cards for those in need. By showing kids the impact of their actions and fostering empathy, we cultivate values that extend far beyond the festive season.
What budget parents need for Christmas with kids?
The festive season is not just about the presents under the tree but the values we impart to our children. By teaching kids financial responsibility, the joy of giving, and fostering a spirit of gratitude, we equip them with essential life skills that will shape their attitudes towards money and empathy. This Christmas, let’s unwrap the gift of financial literacy and kindness that will last a lifetime.
But what kind of budget to set? Such activities for your kids should be partially financed from their pocket money, but a light small amount of money can take them way.
Remember that we are your local credit union and we are here to help families in the cost of living, especially now getting closer to Christmas time, we still have the Family Loan active. If you are not familiar with the Family Loan, it is a £500 repaid over 12 months via child benefit and with no credit check, it is a special offer by CLEVR Money. The main criteria is affordability. Read more about the Family Loan and see it works for you when you need it.
