Plano Learns: Art Shop

Explore financial literacy with art! Assign monetary values to different art supplies and set a budget to “shop” with before creating your own masterpiece.

It’s never been a busier time to be a kid. With all the other things that kids have going on these days, there are some things that may not get the attention they deserve. One of these things, for many of us, is Financial Literacy. No one expects a preschooler or elementary-age child or even a tween or teen to know or fully understand the concept of financial literacy but being exposed to these concepts at an early age is very important to their future success and, as always, Plano Public Library is here to help.

The past year has been especially hard financially for everyone, from seniors to adults and even our kids. Now is a great time to get our children up to speed on some of the things they will need to know in regards to building wealth and financial literacy. Financial Literacy is all about getting your child educated and excited about the best way to manage finances. The benefits of this include learning how to secure their future, how to manage money in all ways possible and to spend their money (and yours!) wisely at all times.

Rest assured that PPL has plenty of upcoming programs to help get your child financially proficient and you can check our website and calendar for a list of those. Here are some tips to get your child introduced to the concept of money and financial literacy:

• Toddlers:  The first step in learning about money is being able to identify the different types they will be using.  Have your child draw or trace different coins, then let them color and identify the value of each coin.  Talk to them about which coin is worth more, they may not understand the actual numbers but they can also learn to identify them by shape and color.
• Preschoolers: This age is a good time to teach your child the value of things. You can either set out regular household items or you can take them on a tour of the kitchen and ask them what they think various item cost. For example, they might think their beloved cookies are much more valuable than icky old  broccoli and therefore must cost a gajillion more dollars. Talk to them and work with them so they understand the true worth and value of things.
• Elementary Age: For some children this is the time they might start getting an allowance which is a great way to introduce them to the idea of Savings. You can take them to the bank and help them open their very own account (make sure you are allowed access!) or they can put their money someplace more accessible to them and save it up for something special they want to purchase.  Now might also be a good time to let them use their own money to purchase gifts for birthday parties or for holidays such as Christmas and Mother’s Day.
• Tweens: This age might be a good time to teach your child the idea of creating different income streams. Teach your child how to be creative when asking for or needing money for things they want.  Extra chores, helping neighbors, lawn-mowing, even participating in garage sales are a good way to help teach them creative ways to earn money before they are able to actually work.
• Teens: Budgeting, credit and credit cards, paying bills, saving, protecting their money and financial information and working are all things that your teenager will potentially have to deal with.  Now is a time to increase your child’s personal responsibility over their finances. You should be there to help guide them, of course, but let them make their own decisions and work through their own consequences (if there are any).  Your child may also start looking into scholarships for school and you should help them explore all the options they have for financial aid.  This is an important time for your child and their finances, be there to support and guide them, but let them also take a strong hand in their own future success.

Now is a great time to get your child on the good road to financial literacy. Build on the skills you teach them as young as a toddler and help them as they grow more independent and responsible. With the proper balance of guidance and autonomy, you can be a powerful voice in getting your child ready to confidently face their financial future.

Check out the instructions and supply list below to host your own Art Shop at home!

Suggested Price and Supply List:

Instructions

1. Using household craft supplies host an Art Shop. 
2. Provide a “wallet” that contains $5.00 (3 one-dollar bills, five quarters, five dimes, and five nickels) of pretend money. 
3. Price each supply in the Art Shop. (See suggested price list.)
4. Have Parent/Guardian act as the Cashier.
5. Open your Art Shop for business!
6. Encourage your shopper to budget their money, or return supplies as necessary.
7. Have an area where your shoppers can create their craft!