Learning and Working Together

Building basic economic understanding begins when children are quite young and extends well into adulthood. School curriculum may help, but nothing delivers as powerful a message as real world lessons that matter. Whether the challenges of the economic crisis are immediate or distant from your family, this collection of practical ways for learning and working together help adults and children refocus attention on cooperating as a family, building confidence and mutual support during tough times. Keeping a sense of humor as you approach such practical tasks will relieve stress and make the learning fun and productive.

Together We Can (elementary age and older)
adapted from ideas of Ginny Boshop, shared with Holly Robinson Peete on Oprah Radio

Instead of saying, “we can’t afford it,” sit down and talk together about what you can do and plan it together. Make it clear that there is a plan, and define it in THEIR terms. Start by sharing information on how much "we" (as a family) do have, even if it is very small. then say, "Let’s figure out how we can do ... (Christmas, vacation, birthday, new clothes, etc.). Be sure to give choices, so everyone feels he/she has some control and input. Instead of one big thing that is out of reach, consider many small things. For many children and teens, having choices makes all the difference.

Follow a Favorite (early elementary and up)
adapted from ideas of Ginny Bishop, shared with Holly Robinson Peete on Oprah Radio

Have each family member choose a favorite food item from your regular grocery choices and record the current cost of that item. Then use grocery sale announcements, receipts, and coupons to follow the cost of that item over six months. For elementary children and older, have them keep a graph on the refrigerator or a spreadsheet of the cost each week. Younger children should have a chance to see and feel the actual coins and bills to equal each week’s cost, if possible. If the economy drives the cost of the Favorite above the family budget, the person who follows that item can choose an alternative that is within the budget or make the decision to stop purchasing it altogether. At the end of six months, allow everyone to choose a new Favorite or suggest a different item for the family to try instead.

Wants vs Needs (elementary and middle school)
Distinguishing between wants and needs is a skill even some adults struggle with. Children benefit from multiple opportunities to sort these differences.

• When your middle schooler asks for something or grumbles about not being able to get new things, respond calmly,  asking whether the request is a Want or a Need and why. This will open the discussion to how people make sound financial decisions. Be sure to share your thinking out loud as you see ads for your own Wants and how you sort them from Needs. Keep the conversation open, not a lecture, as your young teen explains his/her reasoning, too.

• As you write the family grocery list, think aloud and ask your elementary child to help you label W for wants and N for needs on the list, making it easier to decide which items to skip when the total runs too high. If your child shops with you, talk about your choices as you shop.

• For younger children, use refrigerator magnets to hold magazine cut-outs, advertisements, or drawings of items, sorted into a Wants area and a Needs area. Be sure to encourage children to add their own pictures.

• To introduce the basic concept to the very young, give them two colors of sticky notes, green for wants and yellow for needs, for example, and have the child stick them to items around the house as they decide which are Wants and which are Needs. Since the notes are re-usable, your child can have repeated practice with the concept using only one note pad!

Coupon Cleverness (elementary and up)
Adapted from an idea shared by Donna Maria Coles Johnson of Mocha Moms
Make couponing a family activity. Collect coupons from newspapers, free mailers, online coupon sites, and in-store flyers. Keep a total of the amount saved each shopping trip and over the course of the year. Perhaps use a fraction of that amount to fund one of the family “wants” posted on your refrigerator (see Wants and Needs).

Shop n Cook (upper elementary to teens, at least one child over 13)
This activity is best done during a school vacation because it is time-consuming. Calculate how much your family spends on groceries for one week. Tell your children that they – as a team-- will be in charge of one week  of groceries, menu planning, and cooking.  Adults should monitor safety during any cooking activity.

The team must provide healthy meals for all family members, and they must perform all the tasks normally done by the adults: planning, shopping, meal prep, etc. They get to choose the recipes (check for safe choices only), and the parent(s) get to be the kids – including complaining about what’s for dinner! The adults will do the tasks normally completed by the children (setting the table, dishes, or whatever is normal in your home). 

Make sure the team has a calculator. Allow plenty of time for the grocery trip, since they are likely to have arguments about what to buy. They will also end up needing to put back items when they exceed the budget. Say nothing except to avoid annoying other shoppers and store personnel. You SHOULD be available as a resource for direct questions, such as how much toilet paper the family uses per week, but do not volunteer the information. Bite your tongue!

Your family will never be the same after this week, and your children will talk about it for years!

Cash or Charge?  (middle school and older)
Allow your teen to follow the family credit card for two or three months. Share the receipts, the bill, and the discussion about how much you pay and why. Be sure to  explain the very concept of credit to older tweens. What does a credit card do? How does the bank make any money on it? Use resources recommended by TeachersFirst to help.

more Learning and Working Together Ideas

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