Virginia Johnson's Blog

Teaching children the value of money, when traveling

Traveling is fun, and your child might be more excited than you for the trip. However, it is an opportunity for you to teach them the value of money and make them realize that earning money is difficult as compared to spending money.
Here are some tips that should be on your mind if you are planning to teach them the importance of money.
1. Look for opportunities to save money at the hotel: Many kids often skip breakfast because they are too lazy to get to the table in the morning. There are kids wasting resources at the hotel because they think that they do not have to bear the cost for the same. However, you need to teach them that there is a cost attached to everything. While traveling with kids, staying at the hotel will be an opportunity for you to [url=http://www.takingthekids.com/travel-topics/lodging/how-to-save-more-while-staying-in-a-hotel-with-the-whole-family/#.WCtT7c5OJdg]save money if you have planned in advance[/url]. Let your kids be with you while you are comparing and booking the hotel finally. Similarly, to teach them, you need a plan that you can stick to. While making a plan, be sure that you give the money to your kids carefully and let them know the cost you are bearing for each and everything you purchase or every service you use.
2. Take them to a place where you'll find unfortunate people: With no intention to hurt the feelings of unfortunate people, it is an opportunity for you to let your kids know that they have a lot to be thankful for and they should Praise the Lord for everything they have been blessed with. It is an important point and can create a positive impact on the minds of the kids. So, think about it.
3. Set monetary targets for each activity: Set the target and let them decide what they want to do in the set limit. Let them do the calculation and take the headache of choosing the activity that is more fun for them. Remember that your set limit should give them enough time to decide. If they do not have enough time to decide, you'll end up paying an additional amount, and the entire purpose will be defeated. For example, if you are planning to go to [url=http://www.travelandleisure.com/articles/disney-world-travel-tips]Disney World[/url] with them, give them a budget for $200 and let them know that it is all they will get. Let them know about the budget before you leave for Disney World so that they get enough time to decide which activity should be chosen.
4. Give them incentives for money saved while traveling: If you give them a set budget of $100 and they come back to you with $25 at the end of the travel, give them incentives for creating savings. Incentives can be in the form of doubling the amount and adding it to their account or getting them a gift that they have always wanted.
This should be told to them in advance so that they think about it accordingly.

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