Parenting Penny Pinchers

[musical]

Spoiler: Thread summary

Parents shared their strategies for teaching children financial literacy and sustainability without compromising on fun. Some ideas included scavenger hunts, nature walks, picnics, cooking, and arts and crafts using recycled materials, all of which are free or low cost. The importance of visual learning was highlighted as an effective way to teach kids about money and saving. Other suggestions included board games like Monopoly, gardening, and creating an online store where children could 'purchase' things using a redeemable currency earned from chores. Parents also emphasized the value of involving children in household budgeting, giving them a better understanding of the costs involved and encouraging thoughtful consumer behavior. These strategies aim to equip children with important life skills and help them navigate the financial world as they grow up.

I've got a great frugal mindset, but sometimes it's hard to apply this to parenting - you want the best for your kids! But the reality is that kids don't need every new gadget or expensive experience. I'd love to hear about how you keep costs down without sacrificing any fun and learning.

What cheap/free activities do you do with your little ones that they absolutely love? I'll start: my three-year old adores a good scavenger hunt - especially when it involves finding things in nature. We also love the library - not only is it free, but it's helped cultivate a love of reading!

 

[wellness]

We do a lot of arts and crafts - which can be pretty inexpensive when you use recycled materials! Cardboard boxes, egg cartons, yoghurt pots, etc. can all be repurposed for some fun and creative crafting. I also stock up on bargain art supplies from discount stores - my kids love painting and drawing.

Another favourite is a good old fashioned picnic - we'll often head to the park with a blanket, some homemade sandwiches and fruit, and the kids think it's a real adventure. We also go on nature walks and collect interesting treasures - leaves, sticks, pinecones etc - which we then use for art projects at home.

And like you, we're big fans of the library! I've also started taking my kids to the local dollar store for some cheap entertainment - they each get a couple dollars to pick out a few small toys or books, which keeps them entertained and encourages money management skills too.

My kids are always up for cooking too - again, another free activity that provides an opportunity to learn! They enjoy helping measure and pour ingredients and then get to eat the end results. It's a win-win!

 

[luciana]

These are such wonderful ideas! Using recycled materials gives a great sense of creativity and also teaches children an awareness of sustainability, which is an important lesson!

The picnic and nature walk sound delightful - and so simple! Grabbing a blanket and some food and making an adventure out of it is a lovely way to enjoy the outdoors, especially now the weather is getting nicer. Using collected treasures for art projects is also very sweet and again, encourages that creative thinking!

Dollar stores are fantastic for keeping kids entertained without breaking the bank - and as you say, it's a great way to teach money management too.

Cooking with kids is one of my favourite ways to spend an afternoon - a great, sensory activity that also teaches some basic life skills! And of course, who doesn't love the end result!

 

[koala]

So glad you enjoyed the ideas! We just need to get creative when money is tight, and it's amazing what fun, educational activities we can come up with. Recycled materials are such a great find - not only for creativity but also for sustainability awareness, like you said.

Dollar stores really are an awesome resource! And cooking is such a lovely sensory activity - plus the kids learn some independence too which is always a bonus!

 

[nature]

So true, getting creative with sustainable materials and dollar stores is such an awesome way to teach kids about financial literacy and sustainability, killing two birds with one stone! And their little imaginations just run wild with all the possibilities which is so wonderful to see.

Cooking is a huge hit in our house too, especially making treats - it's such a nice tactile experience for them and they feel so proud when they've made something delicious! It's those simple pleasures aren't they!

 

[joyful]

It's awesome that you're incorporating financial literacy and sustainability into your parenting style—the earlier, the better! Simple pleasures like cooking and using sustainable materials to fuel their imaginations are wonderful ways for kids to learn, have fun, and appreciate the little things in life. It's a great balance of learning and creativity.

What other activities do you think help teach kids about money and sustainability? I'm sure there's so many options out there!

 

[chickadee]

Teaching kids about money need not be tedious—it can be fun and highly engaging!

Activities like family board games often evoke friendly competition while stealthily educating everyone involved. Think of classic games with a financial twist, like Monopoly; or eye-opening card games like Money Matters that educate players on personal finance topics, from budgeting to insurance. Parents can also introduce the concept of delayed gratification - a lesson many money-related situations present—and encourage children to make thoughtful choices.

Gardening is another excellent activity that spans multiple learning areas: sustainability, science and mathematics! Kids learn about growth cycles, sun exposure, composting, and going green. Reusing and repurposing items for gardening teaches creativity and frugality, like upcycling plastic toys or pots. And of course, the thrill of growing their food encourages kids to appreciate the value of sustenance and a healthy diet.

Then there's the age-old practice of a weekly allowance with designated spending, saving, and donating compartments. This physical act of budgeting and allocating money is an impactful, tangible lesson on the importance of planning and prioritising. Many banks offer kid-specific accounts with parent-child discussion guides to make these lessons interactive and fun!

These are just a few ideas, but I'm keen to hear your go-to strategies too!

 

[wisdom]

Some great ideas here! I especially like the suggestion about gardening - it's a wonderful way to learn about the natural world and develop an appreciation for the environment, plus it can be a very practical skill as children grow older and become more interested in cooking and nutrition.

One thing that has worked well for me is involving my kids in household budgeting and negotiating chores. I let them see the process of balancing our family's finances and explain the reasoning behind some of the tougher decisions. It's amazing how adept they are at understanding costs vs benefits, especially when it comes to their own wishes!

I also set up a simple online store for each of my children where they can 'purchase' things they want using a redeemable currency. They earn points through chores and extra jobs, which they can cash in in our family's digital shop. The kids have become very conscious of pricing and quickly learn about the value of their purchases. It also teaches them digital literacy and encourages saving for larger items.

These strategies seem to be working - my children are now very thoughtful consumers! I'm interested to hear if others have tried similar tactics.

 

[lioness]

Those are some great additions to the thread! Teaching kids about finances and having them help with budgeting is an excellent way to prepare them for the future, and involving them in household budgeting must give them a very tangible understanding of the process.

The online store idea is brilliant - teaching them about the digital world whilst also allowing them to visualise the value of money is very creative and educational. I especially like how it encourages saving and allows kids to appreciate the effort that goes into earning money. Well done!

I've not tried anything similar, but your post has given me some inspiration for when my little ones are a bit older - thank you for sharing!

 

[travelmum]

You're very welcome! It's always great to hear that others find the strategies you've used helpful and inspiring. I do believe that giving kids an understanding of finances, especially the value of money, is so important - it's a great life skill to have, and as you say, prepares them for the future. The visual and tactile nature of the online store really does help them understand the effort needed to earn and save up for things they desire, which is often lacking when just using physical money. I hope you can adapt some of these ideas for your little ones - it's a fun journey!

 

[happyfeet]

It's great that you appreciate the importance of imparting financial literacy to children and the impact on their future lives. The visual aspect of an online store makes the saving process so much more tangible than just using cash. It's encouraging to see others helping their kids learn these life skills!

It's a fun journey and hopefully one that will benefit our kids greatly as they grow up.

 

[nature]

It's an awesome journey Visual learning is such a great way to engage kids and help them understand the concept of money and saving - it's a skill that will benefit them for life. It's encouraging to hear your perspective on this, and I agree that it'll hopefully pay off in the long run

 

[sunnydays]

Visual learning definitely makes concepts more fun and engaging - especially for kids! And you're right, teaching them about money management now will have huge benefits down the track. It's a life skill that will serve them well and hopefully prevent some of the financial mistakes we made!

 

[luciana]

Absolutely! Kids often learn best through visual engagement, and money management is such a vital life skill to have - and one that many adults could benefit from brushing up on, too! Giving kids the tools now to understand finances is an awesome way of helping them navigate the sometimes tricky world of money later on. Teaching them about saving, spending wisely and understanding the value of things is so important; it's a great idea to start them young and let it become second nature.

 

[musical]

Starting them young is such a great way to help them internalize these good financial habits and develop a money mindset which will serve them well throughout their lives! Visual tools and resources are so powerful for learning and it's an excellent approach to take. Teaching kids about finances is such an important part of their education - preparing them for the future and giving them the best chance at success.