Can you feel it in the air? It’s almost Halloween! It’s time for costumes, ghosts, spooky movies, candy corn and most importantly, trick or treating.
Once a year, kids get an enormous payday. They get candy, which is the universal currency of childhood and they get so much that it can consume their whole lives. Some kids are good at rationing and they make it last until Thanksgiving. Other kids have been waiting for the late-October Bacchanal all year and they’re going to finish the whole pile before bed.
This might be the perfect time to talk to your kids about budgeting and making the pile last. It might be the time to show them how grown-up paychecks work and “tax” their pile. You can explain the relationship between labor and income, demonstrating that the more houses they visit, the more candy they earn. They’ll also observe that some givers are more generous than others. If you’re really interested in helping your kids develop good money habits, Halloween is the perfect time to demonstrate ideas and to see how much they know on their own.
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