Summer Money Magic: Teaching Kids About Money with Fun
Summer is more than sunshine and popsicles—it’s the perfect runway to launch your child into lifelong financial confidence. Studies show kids develop core money habits by age seven—including traits like spender or saver investopedia.com+8gohenry.com+8washtrust.com+8collegesavings.org+1gohenry.com+1. That means the summer after second grade? Pure gold.
This guide blends bold, real talk with hands-on action: teaching your child about budgeting, earning, banking—all disguised as summer fun. You’ve got their attention; now let’s give them skills.
What the Research Says
Money habits stick early. CFPB data shows values, saving habits, and planning emerge in early childhood—especially when allowance and real money are involved gohenry.com+1en.wikipedia.org+1.
Game-based learning works. From swaps in Monopoly to mock grocery shopping, interactive techniques reinforce budgeting and decision-making washtrust.com+15collegesavings.org+15empeople.com+15.
Bank accounts build responsibility. Opening a youth savings account gives kids a tangible way to observe interest and the rewards of patience ft.com+10partnercoloradocu.org+10macu.com+10.
Together, these three pillars—budgeting, earning, banking—create a summer curriculum that gives kids both the “why” (principles) and the “how” (practice).
Step-by-Step Action Plan
1. Mock Budget: Turn Money Into a Game
Why it matters: Helps kids weight options and prioritize.
How to do it:
Pick a weekly budget ($10–$20 from allowance or parent).
Create a budget tracker—fun visuals, like jars or sticker charts.
Give them choices: e.g., book vs. mini outing vs. savings.
Encourage questions: “Which do you want most? What else would you give up?”
Apps & Games:
"PiggyBot" (ages 6–10) – A digital piggy bank with fun goal-setting features.
"Green$treets: Unleash the Loot!" – Combines animal rescue with money choices.
"Plan’it Prom" (teens) – Budget simulation game from PwC with real consequences.
Bonus Activities: Grocery store challenge. Give them a mini list and a budget—let them shop, compare, and calculate. You can also play a money board game like Monopoly or Payday—it’s budgeting in disguise.
2. Earning Through Chores & Simple Jobs
Why it matters: Builds work–reward understanding and control.
How to do it:
Brainstorm age-appropriate chores or small jobs (dog walking, lemonade stand, weeding) macu.com+1partnercoloradocu.org+1.
Agree on payment ahead of time.
Set saving goals—earning $X to fund Y.
After payment, talk: “Do you want to spend vs. save?”
Pro tip: Use chore charts tied to allowance. Studies from CFPB show combining earning with real money helps anchor delayed gratification .
Apps & Tools:
"Homey" – Turn chores into earnings and savings goals with photo tracking.
"BusyKid" – Kids earn, save, donate, and even invest (with parental approval).
"Allowance & Chores Bot" – Tracks money earned from chores and spending.
Dinner Table Conversation: After they earn a few bucks, ask: “What’s your plan—spend a little now or save for something bigger?”
3. Open a Savings Account Together
Why it matters: Shows money growth & responsibility.
How to do it:
Research kids’ savings accounts (no fees, low minimum).
Visit the bank or credit union together .
Let them make the deposit—real action = deeper learning.
Explain interest (“small extra from bank”).
Track the balance weekly—celebrate small milestones.
Power tip: Many institutions provide youth materials—colorful, interactive, goal-driven.
Apps for Real Banking:
"Greenlight" – Debit card for kids with parent-controlled savings, spending, and investing.
"FamZoo" – Acts like a virtual family bank; kids manage savings, spending, and giving.
Talk About: What is interest? Why do banks pay us for saving?
Bank Bonus Tip: Many credit unions offer savings accounts with higher youth rates and financial literacy perks.
Two Powerful Resources
FDIC “Money Smart for Young People” – Free curriculum and field-trip guides for bank visits en.wikipedia.org+14fdic.gov+14investopedia.com+14councilforeconed.org+5macu.com+5partnercoloradocu.org+5.
Council for Economic Education “Financial Fun Pack” – Printable games and activities for grades K–8 councilforeconed.org.
Ready to Take This Further? Join Our Next Black Mammoth Power Hour
If reading this lit a fire under you to teach your kids about money—but you’re still wondering how to keep it consistent, what’s age-appropriate, or how to make it stick beyond summer—then the Black Mammoth Power Hour is where you need to be.
This isn’t some fluffy parent workshop. We’re diving into the real-life systems and tools that help families raise financially confident kids, using proven strategies, real numbers, and hands-on demonstrations. You’ll leave with an exact blueprint you can use the next day.
Whether your child is six or sixteen, this Power Hour will show you:
How to build a home economy without chaos or bribes
What apps, banks, and tools we actually use with our own kids
How to make your child feel empowered—not pressured—by money
And why financial education is a form of generational wealth
Don’t wing it—plan it.
Spots are limited and every session includes live Q&A, so bring your questions. Come for the tactics, stay for the transformation.
Schedule now for the next Black Mammoth Power Hour and turn “teaching your kids about money” into a lifestyle.