Coupons are a good way to teach children many life skills. As you know coupons are very plentiful and easily assessable. Merchants use coupons as a way to get consumers to try new products and to bolster customer loyalty. There are many benefits to using coupons while teaching your children. Here are 7 benefits.
1. Thriftiness. Coupons can save some families $100's of dollars every month. Being frugal is a major component in financial prosperity. Children learn that money can be saved with coupons and also the importance of making good purchases.
2. Colors. Younger children will gain a better understanding of colors if you name the colors of the different coupons. The Sunday paper, where most coupons are found, is very colorful and kids find it fascinating.
3. Managing time. Many people use day planners but learning to use them can be cumbersome. If you are clipping coupons you should have an organizer. I have used the little baseball card dividers to keep my different coupons in. Show your children how this works. This will help them learn time management skills.
4. Arithmetic. A big benefit that your children will realize is their math skills will be enhanced. Coupons teach adding, subtracting, division and multiplication. This will also show your children that what they are learning in school really can be used in the real world.
5. Learning to use a calendar. Couponing requires a calendar so consider getting one for each of your children. You can usually find them for free at your bank or credit union. Show your kids how to find the dates on the coupons and then in the calendar. This way your children can help you sort out coupons that are expiring.
6. Pay your kids for good deals they find. This can be a great motivator for your children and will help them catch the "coupon clipping bug." Show them your grocery list as it develops each month and they will start watching for coupons for the items you need to buy.
7. Variety. Without coupons your meals can become very ordinary. Clipping coupons will expand your menu because you will be trying new products on a regular basis. Children thrive on variety as their minds can never get enough input. Take a chance and buy a few things each month you do not normally buy when you find a coupon for it. Your kids will love this.
Teaching your children with coupons will be a benefit to them and to yourself. Clipping coupons is a labor intensive process. If your kids are helping you then the job will be more enjoyable. Help the smaller ones learn their colors and teach the older ones how to make sure the coupons are really a good deal. Enjoy.
Teach Children About Money
1. Set a good example. Children are very aware of what is going on around them and they will start questioning some of your actions. Take using a credit card for example. When I fill up sometimes my little children will ask me why I use a credit card if they are bad. I have to chuckle at how intuitive they are. But this gives me an opportunity to explain to them the proper use of a credit card.
2. Start while kids are young. We have a tendency to put things off with our children partly because we feel they are too young. With money, you can start teaching your children when they are between 3 and 4 years of age.
3. Have a budget. Our spending overtime usually evolves into a budget system since most of us have to be careful with our money. Use this as an opportunity to teach your kids that each month you have a set amount of income that comes in and therefore, you have to be careful how you spend it. This may also help your cause when you are at the store and your child is asking you to buy them everything they see.
4. Immediate gratification? The next time your child asks for something they want talk to them about earning the money. If it is really big like a bicycle you can tell them that you will match the money they earn. Help them by finding jobs around the house and yard but do not make it too easy for them.
5. Shopping. As a father I do the grocery shopping sometimes and I frankly do not know how my wife does it. You have to have a degree in purchasing. Add to that whining children and well, you get the idea. What I do is I take a few children with me and I tell them to find the best price on different items. You can even get them a little hand held calculator and teach them to figure cost per ounce.
6. World markets. Financial markets are a part of our lives so you need to educate your children about them. This will go a long ways in teaching them about money because they will make better buying decisions. What is a "blue chip?" Why can the market go down in a bull market when unemployment goes down? Your children need to know.
Children can learn to be financially responsible when you as a parent start early and teach them by example. Let them be part of the solution when you are shopping and trying to make good decisions. When they want something show them how they can earn the money with your help. Do not forget the world markets as a tool for teaching your children. Discuss financial concepts. Like me you can learn a lot as well.
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