KIDS FUNANCE – AGES 6-10

Fun Facts: MONEY

Did you know:

1. U.S. Paper Money was created to fund the Civil War.
2. U.S. Pennies are worth 1 CENT but cost 2.4 CENTS to make!
3. Many money terms come from Ancient Rome – like
4. Some countries share currency – like the Euro.
5. The newest type of currency is Electronic.
6. The first paper money was used in China.
7. Money factories are called MINTS.
8. The U.S. Dollar is the most commonly used currency in the world.
9. The first U.S. Mint was powered by HORSES!
10. The first coins were minted over 2,500 years ago!
11. More Monopoly money is printed each year than real money.
12. The mint in Philadelphia is the largest mint in the world.
13. Early Romans used salt as a form of money. Even the word “salary” derived from sal, which means “salt” in Latin.

The Anatomy of a Dollar

Ever wonder what all that information on your money is? Well, let us break it down for you.

1. The large black letter indicated which of the 12 Federal Reserve Banks your dollar came from.

2. All those Latin words actually mean something.

3. The original 13 colonies are referenced several times.

4. There is a legal and binding contract written on each bill.

5. There are several “symbols” representing the values of our founding fathers. Some say they have a connection with secret societies!

Download It!

Budgeting 101

Do you know what a BUDGET is?

A budget is a list of how much money you RECEIVE versus how much money you SPEND. You can set up a daily, weekly, monthly, or yearly budget.

A budget gives you an overall view of your finances and is very important. If you do not follow a budget, you might accidentally spend more money than you receive. Then you will be in debt or unable to pay all of your bills.

Start your budget out monthly. Add up all of your allowance for the whole month, then write down how much you are spending. If you have $20 allowance each month, then you are only able to spend $20 each month on your needs and wants.

Keeping track of your budget also helps you prioritize your spending by buying the most important items first.

Fillable Monthly Budget

App Spotlight

iAllowance

iAllowance is a great tool for teaching your kids about earning money from doing basic household chores.

You can even set up iAllowance to automatically deposit money into your child’s bank.

You can customize rewards and chores! It’s set up for unlimited children and banks and supports over 150 world currencies.

iAllowance is currently available on iPhone and iPad.

Banking Spotlight

Savings Account

Have you outgrown your piggy bank?

Do you have a SAVINGS ACCOUNT?

If not, you should open one! You will most likely need your parents to open the account for you. Most banks will not let a minor (under 18) open their own account.

There are a few things to consider when shopping for the best savings account.

  1. Are there monthly charges for the account?
  2. Is there an account minimum to avoid monthly charges?
  3. What interest rate do they pay you for your money?
  4. Do they offer any special features for you – like Savings Matching?
  5. Do they have online features that you can use?
  6. Will they give you a debit card to use with your account?

Do you know the different parts of a DEBIT CARD? Click below!

Earning Spotlight

Yard Sale

You know you have a TON of stuff that you don’t use anymore! We’re talking about stuffed animals, LEGOs, hats, shoes, blah, blah, blah – all those things your mother is constantly telling you to get rid of.

Well, the answer to all of your problems is vey simple – have a YARD SALE!

Yard sales are a great way to clear out your room and MAKE MONEY!!

And these days, you can even go VIRTUAL with your yard sale.

Apps like VarageSale, OfferUp, LetGo, and more allow you to sell online to your friends and neighbors. But make sure to get your PARENT’s PERMISSION before logging in to any website or app to sell your stuff!

If you’re old school, you can put up signs around your neighborhood (especially on the busiest corners) with arrows pointing in the right direction, set up a table in your front yard or driveway, lay your items out in a nice, orderly fashion, price everything with blue painter’s tape or stickers, and have your change box ready to go!

Don’t forget to ADVERTISE your sale on Yard Sale Treasure Map! Get the app below!

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24031 El Toro Road, Suite 210
Laguna Hills, CA 92653