Field Trips: Teaching Financial Literacy Everyday – Part 2

Money and black girl(money moves cover)

Financial transactions at financial institutions

On your next trip to the bank, allow your child to make the deposit or withdrawal with the teller.  Instruct the child to tell the teller that they would like to make a deposit or withdrawal in/from the checking or savings account.  The teller will be very impressed with your little financial guru as they process the deposit and gives the child the transaction receipt. Let the child know the teller will ask, “Is there anything else I can help you with today?” The child should respond to the teller’s question and also say thank you.

Financial Life Lessons & Teachable Moments

Take your child to open a custodial bank account. Discuss what it means to have a custodial bank account and the opportunity you are providing them by having their own account. Allow the child to make deposits and withdrawals, as appropriate, at the bank on a regular basis.  This will help your child develop the confidence and the responsibility of transacting business with financial professionals.

As a parent, teacher or guardian you should always look for opportunities to make everyday activities educational experiences to increase your child’s financial literacy.  Don’t let your child be a passive participant in life until they are 18 before they begin making financial and business decisions without 13 or more years of previous experience.

Linsey Mills

Callinz Group

Managing Director




Field Trips: Teaching Financial Literacy Everyday – Part 1

girl and money

As a financial consultant and creator of interactive financial education experiences, I enjoy the learning that takes place when children experience financial concepts, terminology, and strategies first hand.  You don’t have to be a financial professional to begin teaching your children financial literacy.  In fact, you are your child’s first financial advisor and educator. The financial transactions your child observes you making can greatly influence your child’s financial future.

Look for opportunities during your daily routines to engage children in financial and business transactions.  Below are some examples that you can use to create memorable experiences.  Some of these I still remember from my childhood:

Financial transactions during meals… when ordering a meal at a restaurant with a cashier, give the child cash to make their meal purchase. Make sure they have more cash than the cost of the meal. Allow them to approach the counter alone and interact with the cashier by ordering their meal, exchanging their cash for their order, and receiving change.  After receiving their meal, ask if they got what they ordered.

A few tips to prepare the child for making their meal purchase:

  • Discuss what the child wants to order and make sure they identify the total cost for their meal (drink, dessert, etc.)
  • Ask them how many dollars is needed to buy their meal.
  • Remind them to wait for their change after giving their money to the cashier.
  • Do a practice run allowing the child to tell you what they plan to order.


Financial Life Lessons & Teachable Moments

There may be an occasion when the child does not receive the correct change.  In this instance, discuss with the child the correct change due. Then, instruct the child to go back to the counter and inform the cashier that they did not receive the correct change and ask for the correct amount. Be there to support the child, but allow the child to talk with the cashier directly to correct the issue.

During the first experience, you and the child will both be nervous but after a few attempts your child will feel very confident communicating with adults and handling everyday basic financial transactions when making a purchase.

In another scenario, you can set a limit the child can spend that requires them to make a decision about what items they can afford with the money you’ve provided.  For example, the child may have to order the free cup of water rather than a non-free drink to fit within their budget.

Try these suggestions with your students or children! Let’s continue the financial life lessons and teachable moments!

Linsey Mills

Callinz Group

Managing Director


Kids Give and Get the Feeling

kid giving

Every December, since the first grade, my mother and I would put pennies into rolls, and cash them at the bank. I would take the money and buy Christmas gifts for my family. This taught me the value of money and the gift of giving.

I would get excited when my parents took me to the store to purchase gifts for my family. The feeling I got when my family opened the gifts I purchased was indescribable.

In the article, “The Neuroscience of Giving,” by Dr. Eva Ritvo, she says giving boosts “neurochemical drivers of happiness.” These drivers are dopamine, serotonin, and oxytocin.

Dopamine affects emotions, motivation, and the experience of pleasure. Normal levels of serotonin can promote feelings of comfort, happiness, and well-being. Oxytocin naturally increases self-esteem, trust, and the bonding experience.

So, you see why my feelings as a child were indescribable during Christmas?

Let’s encourage our students/children to give this holiday so they can “GET THE FEELING”.

Giving does not have to come in gifts. Below are other ways to give…

  1. Gift of Time – being present with those you love and/or like
  2. Gift of Touch-giving someone a hug
  3. Gift of Labor-volunteering to help others
  4. Gift of Friendship- being there for your friend
  5. Gift of Art-creating something and giving it away
  6. Gift of Teaching- to show or explain something new to others

Happy Giving!!!