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How to help your children understand the value of activities

How to help your children understand the value of activities

Tips for helping your children learn the cost of different activities.

With the school holidays beckoning, you’re probably starting to think up ways to keep your little ones entertained. If your kids are anything like mine, they’ll already be coming to you with ideas, some of which may be pricey. This presents a great opportunity to teach them an important lesson; it’s not just products that cost money, activities do too, and some are cheaper than others.

Get your kids involved in planning their holiday to help them understand the value of the different things they can do. Sit them down and explain which types of things cost money and which don’t, then challenge them to come up with a whole day of fun that’s also easy on the wallet.

Here are some extra ways to help them appreciate the value of different activities.

Work out a savings plan

If there are some more expensive activities that they really want to do, such as visiting the zoo, help them come up with a savings plan to pay for it. The fact that they will have to wait until they’ve saved enough money to do the activity will help them understand its value. Conversely, you can explain that cheaper or free activities, such as heading to the park for a game of sport, require no savings and can be enjoyed straight away. This could help them to see the value of opting for less expensive choices from time to time.

Compare activities with similar-priced things they love

Chances are, your children will understand the value of products before they transfer that understanding to activities. If that’s the case, make a list of activities they want to do over the holidays and try to find something tangible in their world that is of similar value. For example, explain that a day at the theme park could cost around the same as their favourite toy, and try to promote activities that give back to the community, such as volunteering at the local market, as worthy entertainment options.

Visit The Beanstalk for more tips and tricks for teaching your kids about money.

Veronica Howarth
Veronica Howarth

Head of School Banking and Youth

Veronica is responsible for Youth at the Commonwealth Bank. With over 20 years in the business, her passion is leadership, coaching and business transformation. She understands and appreciates the value of early financial management skills.