Halloween is a time that many children look forward to all year long. From delicious candy given out by neighbors to fun costumes and parties at school; Halloween is a celebration that’s practically designed for kids.
If you’re a parent, there are some valuable money lessons you can impart on your little ones, other than what can happen if they eat too much candy too fast.
You Get What You Work For. Kids often think they can eat all of the Halloween candy that falls into their sack, but if you’re a smart parent, you’ll keep track of the amount they eat. Give them a few free pieces, then have them complete simple chores around the house for more over the next few days. Your kids will literally be working for the reward they want.
There’s a Tax on Everything. Parents might feel silly dressed up in a Halloween costume asking neighbors for candy, but you can still teach your kids money lessons and get a treat. Show kids how real-life taxation works by enjoying a few pieces of the candy yourself – for chaperoning their trip.
Saving Is Its Own Reward. Many kids eat their candy in a matter of minutes – some even do it while they’re still out walking! Teach your kids that saving candy for a rainy day is a much better reward than eating it all at once.
Everything Has a Value. Many dentists offer candy buybacks, giving kids real money for candy they turn in. Take your kids in with at least some of their candy, to show them that items like candy have a real monetary value.
You Can Trade for What You Want. This one requires other neighborhood kids, but getting a group together to trade favorite pieces of candy can teach them about bartering. For some, this is a very valuable lesson when it comes to finances.
Halloween is a time that’s fun for kids, but it can also be educational. Use these tips to help your kids learn a few valuable money lessons this October.
Robin Williams is an Executive at CashOne, a leading provider of online payday loans and instant payday loans. Serving the entire United States, CashOne is a preferred partner to help people get through their short-term financial crunches through fast approval and simple terms and conditions. Google +