You’ve heard of the Bank of Mum and Dad, where parents financially support their grown-up offspring. You may even run your own branch!
Mum and Dad will soon find themselves branching out from banking into teaching. Nationwide school closures place further pressure on already busy parents to find creative and informative ways to keep young minds busy at home.
At nimbl, we understand the pressures parents are under and are always looking at ways we can support the nimbl family. We are pleased to have teamed up with Moneyready, the independent, online financial education platform – providing interactive activities, videos, games and quizzes, Moneyready puts the funny into money, keeping children aged seven to 18 years learning, engaged and entertained.
Moneyready’s self-guided programmes for children take the stress out of teaching for parents, saving time with no need for lesson planning, marking or specialist knowledge. Parents can keep an eye on progress with the parent dashboard, and a series of pop quizzes. They may even pick up a money tip or two!
We checked in with Moneyready, founder, Helen Driver (or Miss Moneyready) who shared her top three tips for how you can help your kids get ‘moneyready’ while school is out.
1. Make the everyday fun
Learning about money doesn’t need to be a drag. Shopping can be a great way to get the kids thinking about the difference between price and value, the influence of advertising, managing a budget, and learning about ways to pay. At a time where family budgets are under pressure, whether looking through newspaper adverts and promotions, shopping online or in your local store, gets the kids looking for the best deals.
2. The marshmallow test
An important life skill is learning to control our desire for instant gratification. Have fun trying the famous Marshmallow test and be sure to play along. Resist the marshmallow for 15 minutes and get another. Can they hold out? Can YOU hold out? Whether marshmallows or spending money, being able to resist temptation and controlling our urge to splurge is a key money skill.
3. Go for goal!
Kids love a challenge; setting and working towards financial goals is key to being good with money. Whether saving for something special or simply seeing how much they can save, get them to choose a savings goal and encourage them every step of the way.
Remember, the most important part is always to have fun whilst you’re learning.
You can sign up for Moneyready with our exclusive 20% discount for an annual Moneyready subscription. Use code ‘nimbl’ at checkout – get Moneyready at www.moneyready.org