My 8-year-old cries poor like the Pentagon before commencing a $10 billion nuclear weapon upgrade.
Granted, she doesn’t get a regular allowance, but with grandparents like these, she wants for very little.
Actually, she wants a lot, but as the only granddaughter, she typically gets it all, which is why I don’t give her an allowance.
This, of course, has led to many heated discussions on money, spending habits and budgeting. However, thanks to a recently covered Social Studies unit on our country’s earliest settlers, we’ve added a new topic to our financial discussions: bartering.
Bartering is the exchange of goods or services without using currency, and guess what? Kids can use it to gain all sorts of stuff.
Hands-on lessons in bartering can be fun and educational. What’s more, children don’t have to be financial whizzes in order to understand the concept. You can help your children learn the nuances of bartering by giving them a chance to exchange goods with other kids. For example, you might consider hosting a bartering party. Simply invite a group of children to bring over an item or two that they wouldn’t mind trading with other kids. If you are dealing with very young children, be sure to remind them throughout the party that if they barter with a friend, they will not be getting their item back.
Older kids can learn more about bartering by playing Would You Survive. The popular card game teaches kids how to barter to gain the supplies they need to survive as early settlers. At first, your son or daughter may be tempted to trade their goods freely, but as the game progresses they will quickly learn that certain items, such as fuel, increases in value, especially when it’s in short supply. The game is designed to show kids the benefits of strategic trading and start discussions on how they can gain from executing real-life bartering.