Tuesday, June 28, 2022

Enriching Education: Boost Summer Learning

Studies have shown that since the pandemic our students have fallen behind, particularly in math and literacy. While summer is a time for relaxation, play, and exploring for our kids and the LAST thing they want to do is school work, it’s important they keep up with their math and reading. Here’s how to do both by teaching your kids about money with these tips.

Get Your Kids a Library Card – A library is so much more than “Shh!” ing librarians and rows of dusty books. A library card is free to local residents and offers other free services and programs for a variety of ages. The American Library Association has even published a book list to help engage kids about money. You can find your book of choice together, check it out at the library and read it together anywhere! Then start the conversation. Your child won’t remember the summer they played video games or laid around in the sun, but they will remember the summer you had your own book club.

Create Activity/Day Trip Challenges – Day trips are synonymous with summer! Get your kids involved with the planning by setting a price cap challenge. What can we do for $30? Or $50? You can research places together and come up with a unique itinerary. Go even bigger if you have older kids with a Free Trip Challenge. What can you do that will cost you nothing? This helps kids start to associate activities and trips with money, and helps them learn that no, it does not grow on trees!

Give Them a Trip Allowance – Already have a trip or vacation planned? You can give them a lump sum of cash (and a wallet to keep it in that you can hold for safety), or a preloaded credit card to do with as they wish. Help them know much money they are starting off with, how to keep track of their spending, and their remaining balance. This helps them not only learn the art of budgeting, but it helps them distinguish between a WANT and a NEED. Is that extra candy or one more arcade game worth more than a gift they can take home?

Let Them Help You Grocery Shop – Going to the grocery store is a necessary evil in every household. Sit down with your kids and create a budget (or tell them how much money there is to spend) and then build your list together. If you can, shop at the grocery store where you have a rewards card so your kids can see how much more money you can save. You can enhance this experience by going through the sales flier for that store, or plan to hit a couple of stores if it saves money (this is a good opportunity to teach your kids how to figure out the best per-unit price). Have your kids read the fine print on all coupons and sales advertisements as this will teach them to automatically look for exclusions that apply, and learn all the offer details.

Keeping your kids engaged throughout the summer doesn’t have to be boring! As parents, we can help make learning about math, reading, and financial literacy fun by teaching them about money in real-world situations. HAVE FUN this summer!

About Cut the Fiscal Fat:
Cut the Fiscal Fat is a mother-owned business providing financial education to kids and teens in an effort to help end poverty and economic disparity. The company’s goal is to raise enough money to educate one million children by the end of 2022 through GoFundMe. Cut the Fiscal Fat’s financial literacy curriculum, “Need To Know Life Guide (Level 1),” equips participants with information on how to make the most of the money they have and how to use it to achieve maximum success in life. Learn more at CuttheFiscalFat.com.

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