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With COVID-19 driving widespread closures of our nation’s schools, many parents are facing new obstacles that they hadn’t anticipated. While this looks different for everyone, many families are now challenged to deliver remote learning instruction to their children or keep kids occupied while juggling the demands of their job.
As the novelty of this “new normal” wears off, you may be starting to hear, “What are we doing today?” or the dreaded, “I’m bored.” Maybe you’re on your fourth puzzle or craft project of the week and looking for a new way to keep your kids’ minds engaged and active. With April being Financial Literacy Month, why not propose an activity that is educational and fun? You might even learn something new yourself.
“Do I need that?” This is a question we often ask ourselves when our Amazon cart reaches triple-digit totals. We can all agree on our basic needs -- things like food, water, clothing, and
shelter, but when it comes to the things we want, this won’t be the same for everyone. At any age, it is important to determine needs, identify wants, and find a way to fit both into your budget, while also setting aside money for emergencies. For this activity:
Hopefully, this activity will help your child put into perspective some of the things we take for granted, while also teaching a critical and foundational Financial Capability skill.
When it comes to facts about finance, it can be tough to sift through the myths and identify what is true. Read the following statements out loud to test your child's financial savviness. Can they identify which statements are myths and which are facts? Ask them to explain their reasoning and then lead a discussion about why the statement is true or false.
For example, “Sharing personal information (e.g. social security number) with friends is okay. Myth! Personal information like social security numbers, bank account information, etc. should be kept private. Always talk to a trusted adult before you share any personal information, especially when online.”
Encourage your child to put their entrepreneurial skills to the test as they work to build their own food truck business! Creating your own food truck business takes more than just brainstorming taco toppings or creating a logo. A lot of thought needs to go into your plan and strategy. Use the guiding questions below to set the [food truck] wheels in motion and then challenge your child to present a business plan pitch using the optional prompt.
Optional prompt: Create a business pitch - a quick description of your business that you use to explain it to customers and investors. The goal is to be clear and concise and to get your point across in just a few minutes.
There might be a toilet paper shortage right now, but there is certainly no shortage of information on local and national news outlets. These days it is safe to say that every time we turn on the TV or pick up our phone, we are inundated with headlines. Have you ever considered the ripple effect that these news updates have on various industries? Why not take this opportunity to foster a conversation around investing and the news?
Did you enjoy these activities? We want to hear from you! Join the conversation on social media using the hashtag #RemoteLearning and #TeachFromHome.
This blog content was created in partnership with EVERFI. BTC Bank is a member of EVERFI's Financial Capability Network, and we are proud to deliver critical financial education to our communities.