Help Children Make Money Going the Extra Mile
Organize Projects to Encourage Extraordinary Learning
Sep 16, 2009
For a kid, to stop thinking about the next toy or game she wants can be difficult, especially when parents want her to shift her focus onto something they feel is more important. Introducing a way for kids to get what they want by doing what parents want of them can accomplish both.
This concept was introduced as early as 1968 (and probably much much earlier) in a book called Life is Tremendous, by Charlie "Tremendous" Jones [Executive Books, 1968]. Jones discusses how his son wanted a car, and he want the boy to read certain books. The deal they made was that Jones would give his son $10 for each book he read from a specific list. By the time his son could buy a car, he'd been transformed.
A parent who likes this idea but does not know which direction to take it in should consider several areas of study:
- Finance
- History
- Mechanics
Helping Kids Learn About Money
Many parents do not feel qualified to teach their children about finances. The truth is that the most basic concepts will be very enlightening to children of all ages.
A simple project could be about different currencies and how one compares to the other. Another project could involve going to a store and finding something at one price, and then comparing it at another store, or online.
A very basic concept to explain would be the national deficit and how when a person, city, or country spends more than they make, they end up in debt. This lesson could lead to how governments make money through sales, income, and property taxes.
Children who Know History can Avoid Repeating it
History is as interesting as the teacher makes it. A person interested in war would be very interested to know that during the black plague, diseased corpses would be catapulted into the enemy's area of the battlefield. Talk about biological warfare!
For kids who take a keen interest to lessons in finance, history has much involving money. PBS.org has a very interesting article on this topic called "History of Money" where children can find that paper money was introduced as early as 800 BC, and that livestock was once the chief form of currency. For some people, it is still a significant one.
Getting to other lessons in history, there is so much, such as world empires, popular movements, powerful leaders, great inventions, and the recent exploration into the the world wide web.
Kids Should Learn Some Basic Lessons With Tools
Mechanical lessons can be as easy as changing a light bulb and as difficult as working on an airplane. It's a matter of what is available to the family. Do not be discouraged by the seeming lack of things available, because there is plenty.
Just like changing light bulbs, kids can change air filters, tear off wall paper, paint a room, and hang pictures. The point is to get them comfortable using tools so that they can utilize them when needed. Mechanical lessons, like intellectual ones, help build a child's confidence.
Other simple lessons can involve changing a car's oil or coolant. Later in life, when the child has a car, they'll be floored that someone would pay so much money for a "coolant flush" because they'll know that there is no flushing involved, just old coolant draining out and new coolant pouring in.
While these three areas only touch the surface of all there is to learn, they are a fair place to start. People can learn just about anything with the right motivation, and this approach combines what children want with what their parents feel is important for them to know before getting into their teenage years (when they already know everything) and off into adulthood.
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