Saving and Spending Money Lesson for Kids

Hi everyone, Ms. Dolman and Lucy here and let's talk about money. You know, moolah dough paper. People can earn money through a job or maybe you even earn money through an allowance by doing chores at home. When you spend, you are paying money for a good or a service. Saving? Well, that's just the opposite. Keeping money and using it for later for something that costs a little more or maybe in an emergency. And now, it doesn't make much sense to spend all your money in one place, so let's see what Lucy and our other friend Milo do when it comes to spending and saving money. Enjoy! Now, Lucy is a spender. Although she has a closet full of shoes, she just bought three more pairs. Here, Lucy has spent money on ordering pizza, even though she has a fridge full of food. Shopping online for things that you don't have to have is a good way to spend lots of money. Lucy, did you need all of that? Lucy, how will you save for the things that you need? Is that your money in the fridge? That's not the way to cold hard cash. Let's see how Milo saves his money. Here, Milo's at the grocery store and he's getting only what he needs. He's saving for something. I wonder what it is. Milo is cutting coupons, so he can save even more money the next time he goes shopping. Milo, I can see your money jar. What are you saving for? It must be something special. Milo, you bought a house. You are an excellent saver. Can we see the inside? I know that you've been practicing saving your money. I hope you haven't been practicing saving your hugs and kisses. Can I have a kiss? That's a good boy. Can I have a hug? Good boy. Now make sure that you buy things that you need before you buy the things that you want. Save enough money for emergencies or big ticket items that might cost a little more. Lucy, how about we come up with a budget? You can always change how you spend or save. That's a small price to pay when it comes to having what you need. Bye everyone!