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With Thanksgiving (and Black Friday) quickly approaching, this month presents the perfect opportunity to talk to your kids about saving money, budgeting, and giving. As we prepare for traveling, holiday parties, gift-giving, and extravagantly delicious meals, it can be easy to lose sight of our financial goals and literacy. This Thanksgiving, Walter the Vault is here to help you teach your kids about financial literacy during the holidays. 

Budgeting During the Holidays

As you sit down to create a budget for the holiday season, include your little ones in the conversation. You can create a Thanksgiving dinner grocery, Christmas gift, and holiday activities budget with them. Asking them for ideas on how you can save money is a great way to include them in the conversation while giving them a chance to use their critical thinking skills to build their financial literacy.

Gratitude and Giving

Thanksgiving is a wonderful time of the year, fueled by gratitude. You can create some fun Thanksgiving traditions surrounding this idea of gratitude. As your child develops a deeper understanding of their blessings, you will be presented with the perfect opportunity to begin talking to them about giving.

There are tons of ways you can introduce giving to your children during the holiday season. A few ideas include:

• 💸 Asking them to contribute a portion of their allowance to donate to charity. 
• 🧸 Having them pick some toys to donate to children in tough situations.
• 🥘 Bringing them to volunteer at a soup kitchen or toy drive.
• 🎁 Celebrating Giving Tuesday- a day dedicated to helping those in need.

Reaping the Benefits of “Black Friday”

Black Friday is a great opportunity to buy those things you have been saving for every year. While the sales are great, it can also be easy to get carried away. Plan a budget for Black Friday shopping, get your kids involved with choosing the best deals, and take this time to teach them about being intentional with their purchases. 

Sharing the Love on “Giving Tuesday”

The first Tuesday after Thanksgiving is known as “Giving Tuesday”.  As you may know, this is a day dedicated to giving back to those in need.  It’s a great reason to donate some extra items around your house, set aside cash for a local food bank, or help people you know who may need some help with essentials or gifts for their loved ones.  You can ask your kids to help you brainstorm ways to help others.  Kids often have the best ideas!