The creators of Biz Kid$ (and authors of How to Turn $100 into $1,000,000) share valuable tips to help build your children’s financial literacy. First, they helped your kids set New Years savings goals. Now, they’ve got some great ideas for ways kids can save without sacrificing fun.
Have your kids made a financial resolution for the New Year yet? How’s it going so far? Having the discipline to stick with it can be tough. With the constant barrage of advertising and peer pressure at school, meeting a savings goal can sometimes take a back seat to having fun. But with a little planning ahead, and the ‘s-word’ (that would be ‘sacrifice’), it can be done. So let’s give them some help.
Here’s a few ways for kids to have fun for free—some are obvious, but helpful especially if the goal is just a few dollars away. And this is just the start—how creative can your kids get towards saving money? Hand them this list!
7 Ways for Kids to Have Fun for Less
1. Instead of going to the theater, rent a movie on Netflix.
We know…duh. But really, think about it—it’s a no brainer method to save money. No $15 movies until you’ve met your savings goal.
2. Instead of going to a restaurant, make food together.
Have everyone pitch in $5 and host dinner on a rotating basis—kind of like a supper club. It can be a lot more fun, and the bonus is you’ll learn how to cook (you’ll need to know this eventually). And…you won’t have the added expense of paying for tip. Meal suggestions that come cheap: pasta, beans, chili, DIY burritos, etc.
3. Instead of buying a dress for prom, borrow one.
Trade dresses with a friend, or rent instead of buy from websites like Rent The Runway or Charlotte’s Closet. Better yet buy from a thrift store and bling it out yourself!
4. Instead of buying another video game, head to a friend’s house.
Are you bored and not ready to tackle homework? Instead of downloading yet another expensive game that will hold your attention for one day, head to a friend’s house and play their games. Or…there are these places called parks and if you bring a dog it can be an excellent experience!
5. Instead of crummy cafeteria food, bring lunch from home.
Another no brainer. Food from home tastes better, doesn’t cost you anything (ok maybe it does for your parents), and is probably more nutritious.
6. Instead of Starbucks, bring a drink from home.
Ever hear of the ‘latte factor’? Whether you drink coffee, tea, frappuccino, or double whip no foam extra sprinkles hot chocolate, a daily (or even weekly) drink addiction can take a serious bite out of the budget. For the rest of January, try bringing your special drink from home in a thermos and see how much money you save.
7. Instead of buying new clothes, raid your sibling’s closet.
No we’re not condoning stealing, but placing a heavy emphasis on ‘borrowing.’ Can’t find what you want in your sibling’s closet? There are all kinds of cool finds at the thrift store and even online at places like Vinted.
If saving money and eventually becoming a millionaire is on your kid’s radar, it means finding ways to NOT spend money. Does that mean NOT having fun? Far from it! Just go online and search for free activities in your area. You’ll find tons of ways to kill time without killing your wallet.
About the Book:
From the creators of Biz Kid$ and Bill Nye the Science Guy, here is a comprehensive guide for kids to the basics of earning, saving, spending, and investing money.
Written in a humorous but informative voice that engages young readers, it’s the book that every parent who wants to raise financially savvy and unspoiled children should buy for their kids. It is packed with lively illustrations to make difficult concepts easy to understand—all as a way of building financial literacy, good decision-making, and the appreciation of a hard-earned dollar.