Download the NECU app on iTunes. Dismiss

Teach Them About the Value of Money

The beautiful autumn weather we’ve all been waiting for is finally here. We all know how hectic and messy life can get with a growing child. They’re constantly outgrowing things; clothes, toys, books, and the size of their bedroom. What better way to get rid of old items and teach them about the value of money than with a yard sale?

Allow your child to take the lead and be a part of each step. Have them choose which items they want to sell and at what price. In the process, they’ll learn how to negotiate and handle money, make change, market their goods and feel confident in their abilities.

Turn the yard sale into a conversation with your child about money management. Ask them what they want to do with their profits. Talk to them about saving as well as needs vs. wants. You can even bring them into your local branch and open a MyFunds Savings Account with their earnings!

You can feel good knowing you have given your child some basic money handling tools that will start him/her on the path to positive money management. And your house will be a little bit cleaner in the process—win-win!