The holiday season may not seem like the best time to teach kids about finances, but it could be the best opportunity you have ever had.
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1. Cash is becoming a top gift by family members to the nieces and nephews (and even grandkids) in the family. Take the kids shopping at the after Christmas sales to help them see ways to get more bangs for their bucks.
2. Let it go. Getting new gifts is exciting but finding room for those gifts may not be. Before the kids go back to school use the time at home to sort through old toys and belongings – toss the broken ones or ones that are missing parts and give away those that are still in good shape but are never used. There should be plenty of room for the new gifts to be enjoyed.
3. Always say thank you. Let the kids decorate blank note cards and then write thank you notes to all the people who gave them gifts. Be sure to include a sentence or two about why the gift is appreciate (like what will be done with the cash or how the toy will be used).
Now is the perfect time to get the kids started on the right financial path. Teaching them to appreciate what they have, pass on what they no longer need or want and using the money that they do have in the best possible way (like with sales) are all tips that will help them along to a sound financial future.