Savings and delayed gratification

logical_mathematical_picture_collages
Activity Type Setting Cost Time
Discussion,Outing
Indoor
Moderate cost ($5 - $20)
More than an hour

Activity

Talk with your child about something that they would like to have, and then think about a “small version” and a “big version” of the item.  For example, if she collects toy horses, a small item might be a toy blanket for a horse, and a big item might be new toy horse.  Do some research and find out the cost of the two items.  Then get a jar where you can collect change at the end of each day.  Keep a piece of paper by the jar, and each time you add change to it, have your child calculate how much is now in the jar.  When you reach the amount required for the small item, give her the choice of “cashing in” now, or continue to save for the bigger item.  Either choice is fine, but encourage discussion about the pros and cons of the choices.

Associated Domains

Additional Tips & Activities

Observe and describe

Summary: Learning to observe and describe is a parenting skill as well as a skill we want to develop in our children. (Source: smarterparenting.com)   Activity:  As parents, we want...

Read More >

Plan and budget a trip

This activity will help your child understand the concepts of planning and budgeting. It will also bring home the fact that travel has costs associated with it (but is money well spent!)

Read More >