Although basic economics was taught, topics regarding individual financial literacy were not covered in school when I was growing up. That will change here at Roast Madison. I distinctly recall my father (an accountant) teaching me how to correctly use a checkbook. It was likely my first real financial lesson (and one I’m forever grateful for!).
Another thing my dad used to do with us was help us “roll coins” that we had saved. I still think that’s a great exercise to do with kids – it helps to identify (visually and manually) the “value” of a “pile of coins.”
Counting them out, and rolling them into their little sleeves was especially gratifying once we realized that the “pile of 50 pennies” was 50 cents… or the “pile of 40 nickels” was transformed (in our minds) as $2! Or, $5 for the “pile of 50 dimes” or… best of all, $10 for a roll of 40 quarters! Ah, good times. Anyway, my tip for today is, if you have kids, to do this exercise with them (first, by encouraging them to save those spare coins to begin with!).