Learning Age: 7 to 11 Years

Learning Track: Numeracy Part 2

Money: Cashflow, Budgeting and Saving

F ailure to budget or save could change your child's life, so why not give them some training now?

Understanding household cashflow is another aspect of numeracy you can show your child.

Being on a budget and making money go further is probably something you would want for your child.

Explain how the cash flow for your house to your child.

Explain where the money comes and how often it comes in.

Explain what it must be spent on.

Explain the idea of saving for a 'rainy day'.

Saving for something when possible rather than buying on credit or a loan is also a good message to give your child.

Mini-Lesson: Showing a flash animation Income from work, pay bills, pay presents, pay food, leftover save. Savings get bigger then child chooses a toy.

Don't forget that one of the main reasons they go to school it that it will give them more choice when they eventually look for work themselves.