Free Play/Fake Money Template Tools to help kids learn about how money works

I’ve built a new website to help people find free play money templates. If you would like to teach your kids to handle money better, a good place to start is at www.KidsMoneyFarm.com. Kid’s Money farm is a site that has free downloadable  and printable play money templates and will soon begin to add FREE education lessons to teach kids how to handle money.

Parents hold the most influential tool to teachings kids about money. Children learn from example. How parents spend their money in front them, is how children will make their understanding about money. Be sure to use words and phrases that add positive thoughts about money. Stay away from making money (or lack of money) a burden, or you children will subconsciously think money is a bad thing and they will begin to self-sabotage themselves as adults. Anthony Robbins, one of the greatest motivational speakers of our time, spends a lot of time in his teachings about what he calls “limiting beliefs”. If your kids hear you saying “can’t afford it” or “it’s too expensive for people like us”, then they will forever think they can’t afford much and not expand their thoughts to achieving more. It’s better to say something like, “We are here to purchase only things we NEED right now. If we want to purchase something just because we want it, we should make a plan for it when we get home.” This will help to give them an understanding that “want” items should be thought out and planned for and begin to save them from impulse buying problems.

Here’s an easy exercise to start playing with your kids.

1. Next time they ask for something in the store, tell them that if they want it, they need to find a way to earn it. Explain to them that you are shopping for a specific reason, like just to buy food to eat etc. Stay away from saying things like “it cost too much”. Instead ask them why they think they should deserve it, and how do they plan to work at getting it. (the key to this exercise is not to argue when they give you reasons they “think” they deserve  it. The key is to open up conversation as to how they can start earning their way to things and goal set.) Creativity and a sense of humor is necessary to keep from getting frustrated. Kids will do their best to wear you down, so keep the conversation going by asking them questions. Explain that you went to work today to earn income for the shopping you are doing. Can they think of ways that they can earn income so that they can buy things that they want?
2. Give them a pad and paper before going into the store and tell them that if they find something they want, they can write it down and when you get home you can find ways for them to earn it. Be sure they write down what it is they want, why they want it, why they deserve it, how much it costs, and what ideas they have on what they can do to earn it.
3. Teach them how the store makes money. They buy it for a cheaper cost (wholesale), then they sell it for more (retail). Along the way they need to make sure that everything they sell covers the cost of all their overhead.
4. Bring fake play money with you. You can get them free from www.kidsmoneyfarm.com and print them out. As you shop with your children, tell them you have set a budget to spend only $150 on groceries today and as you shop add up the cost and have them start pulling the play money aside as you pick up items so they can visually see the affect the choices they make while shopping affects your money supply. This is good for older children who have math skills that need to be sharpened.

The simple lessons above are ways to start changing the way they think about “wanting and whining” for something. Stand firm and explain that whining is not going to help their situation. If you give in once, they will see their whining as a way to get things and it will be harder to stop them from doing it in the future. Let them know that handling money should be a process that uses some thought, not just impulse. Do your best to make it fun. If you have any suggestions, please feel free to comment so others may be blessed from your experiences.