PS 133: Mini Money-Mind 101

PS 133 Mini Money-Mind 101Do you know what money is, where it comes from, what it does?

Money Seems Like It Grows on Trees… very mysterious…being sensitive to what money is, how you get/earn money is very important…it’s also important to learn about how much things cost…how much you have to pay for something you need or want.

Work: what is it, what is a job, why do people work?

How do you get money: allowance? Payment for chores (jobs at home)? Asking Mom/Dad when you need money for something you want, need, want to do (an activity: movie, a show, a shopping spree)

What do your parents tell you about money: are you required to save, to spend some of your money on what you want, donate to a charity? Do you spend all the money you get? Do you save up for major purchases?

Work Generates Money…Production is Required…action (work) creates a reaction (money)…”basic monetary physics”…for every action there is an equal and opposite reaction…if you work, you make money, and then you can enjoy a certain kind of freedom

Mommy and Daddy Work Very Hard…they are providers for the family’s support and needs.

Different “things (toys, video games, clothes)” have different values…”things” have to be paid for…things have a monetary value…you get what you pay for (most of the time)…you need to learn how to be a good shopper, and how to evaluate value.

Coping with the fact that you will not always get what you want…deprivation feelings, and even hurt and anger…a lot depends on your family’s “budget” and how many operates in your family.

We Must Work Sometimes Even If We Don’t Feel Like It, or Want To

Money Creates What We Call “Autonomy” which is a kind of freedom and independence…we can do what we want, we can make our own choices and decisions…we (you) are in charge….money is a tool that can help give you freedom… can be “the boss,” and a “master of the universe”.

Budget Tracker: allowance…monitoring and managing your money behavior and your money feelings…start keeping track of what comes in (allowance, jobs) and what goes out (your spending)…”think before you buy!”

Banks, credit cards, investments: saving, building, spending, building.

Education: learning about money, managing money, planning and budgeting, knowing what your expenses are…being money aware/being money smart!

Money is the “fruit of your labor”…it really doesn’t grow on trees!

Ideas, innovation, let’s start a PS 133 Inventors/Investors Club!
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