The junkyard, quarantine with kids
I started a thing with my kids to teach them about money through hot wheels racing. They race in a single elimination race on the 6 lane drag strip. They get prize money according to where they finish. They each got to pick an old car not suitable for racing for various reasons from the junkyard. They then use the prize money earned to fix them up and make them faster. I have a chart showing prize money as well as upgrade parts and services. We even use play money for each transaction. With school being closed for the rest of the year I thought it would be a good way to teach them something they may not learn in school, the value of a dollar.
Discussion
No better way to teach fiscal responisbility than a real world example. Nice work
What an awesome idea! would love to get my whole family involved. When they "buy" upgrades do you physically do them, or change the car?
Great idea! I might try that with my kid. She's really into Monopoly right now so the whole paying for upgrades might click quick.
Crap...mine are 19 and 17...Monopoly money isn't gonna work.
- Monopoly money doesn't work for mom and dad either. — SavageSpeeder
- Monopoly is timeless...7, 17, 57...I've played more Monopoly in the last 2 weeks than my entire childhood. — redlinederby
Thats absolutely perfect... and its why some of the clunkers in my races exist.. There are some cars that wouldn't roll down the track period.. and the game is to get the rolling.. always trying to make the cars better ... I got hundreds of junkers.. and I want them to roll and luckily my helpers do too...
Never thought about money.. too cheap.. :)
But I have taught them that making money in racing is real hard.. and much easier to spend it then make it.. which is true until you get to the top....
Outstanding...good luck with that