Friday, September 29, 2017

How Halloween Can Help You Teach Your Kids About Money

Let's face it, there are MANY things to spend your money on when it comes to Halloween; candy, decorations for the house, costumes for your kids, even costumes for your pets! You can use all of these purchases to set a good example for your kids to manage their money efficiently. First Bank of the Lake is here to give you 5 financial lessons you can teach your kids during Halloween.

5 Financial Lessons You Can Teach Your Kids During Halloween

1. Comparison Shopping

Whether you are searching through store after store for the PERFECT Halloween costume for your kids or trolling through the stores online, you can teach your kids the benefits of comparing prices when shopping. Teach them how to use apps such as:

  • ShopSavy
  • RedLaser better compare prices. Give them the chance to see you comparing prices of these perfect costumes. This can help them to know whether or not they are getting a good deal.

2. Never Paying Retail

No matter how bad you want something, there's a pretty good chance you can find it on sale, online or offline at a competitor's store. Teach your kids that they don't always have to pay the sticker price for items. They need to keep their eyes peeled for the latest deals, coupons and special offers using apps. Many stores may run weekly specials and last-minute markdown deals leading up to Halloween. Try apps like Target's Cartwheel app, it allows you to capture mobile barcodes while you shop. Cartwheel enables you to select from hundreds of discounts ranging from 5% to 50% off.

3. Buying in Bulk

Show your kids the value of buying in bulk. Teach them how they are saving money by buying all of the Halloween candy in large amounts, instead of smaller amounts. Try warehouse clubs such as:

  • Sam's Club
  • Costco round up your Halloween candy this year. Warehouse clubs can also be a great place to buy your Halloween decorations such as wreaths, miniature haunted houses, and even character costumes.

4. Fair Trades

The night of Halloween is the perfect opportunity to teach your kids the art of proper trading. A child's desire to have the best candy can enable you to teach them they need to trade more than one piece of less popular candy for a premium brand. This is a great lesson for those kids who have siblings.

5. DIY Projects

Teach your kids how fun it can be to make their own Halloween costumes. Their costumes can not only be unique but also budget friendly.

Need a Bank You Can Trust With Your Family's Money?

First Bank of the Lake has you covered. Our goal is to find the right product or service to meet your financial needs. When you work with a local bank, you put your money to work growing the local economy. We share a common commitment to our community with our customers. We understand your local needs. To speak with one of our friendly bank employees in Osage Beach, call 573-348-2265 today.

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First Bank of the Lake - Striving For Excellence
Member FDIC. Equal Housing Lender.

Located at the entrance to the Osage Beach Premium Outlets!

4558 Osage Beach Parkway

Suite 100
Osage Beach, MO 65065

(573) 348-2265

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