On Monday night my wife and I took our three children ages 7, 6, and 5 to shop for a gift for each of us. First my wife took the three girls and shopped for me, then I took the three girls and shopped for her. It was a great time, filled with laughter and joy, and it was also a time for teaching:
- They had to agree – since they were only buying one gift for each of us. At first they all wanted something different, but they slowly came together and all agreed on one thing. They were so excited when they all agreed. A great moment, and very important when it comes to finances-agreement.
- They had a budget – they could only spend up to $25 for each of us. This was a little harder since they are so young, but with a little (okay, a lot!) help, they were able to find something. Another great teachable moment about finances and making spending choices.
- They were buying and giving for someone else. They were so excited about getting something for Mommy and Daddy. A great lesson on the joy of giving. Financial training is not only about what we do with money, but how we help and impact others.
All in all a wonderful night. And a great reminder that teaching your children about finances, or anything in life, does not have to be boring, but can be fun and exciting.
