In our last lesson, we worked on teaching our kids the life lesson of choices. Specifically, the effects that choices have on others around them. And we used a wonderfully tasty example: a giant cinnamon roll.
Life Lesson: The Impact of Choices On Relationships with Others
For this lesson, imagine the classic cookie jar – with one, final, delicious chocolate chip cookie inside. We’ll be using this last cookie to teach more lessons about the impact of our choices, and how this can be applied to finances.
For Elementary / Middle Schoolers:
You can talk through this one, or for more impact, have an actual “last cookie” (or if you don’t have cookies or a cookie jar handy, go with the last tasty item in a package).
- Ask them: “What are your choices?” (Eat it, eat half, leave it, etc.)
- Then: “Who does your decision affect?” (Brother(s)? sister(s)? parent(s)?)
- Finally, to get them really thinking: “When you think of others, how do your opportunity costs change?” (Remember that opportunity cost includes the reactions of others.)
For Teens:
Pizza might be a bit more tempting for older kids. How about that last slice of pepperoni in the take-out box? You’ll want to ask these questions:
- Ask them: “What are your choices?” (Eat it, eat half, leave it, etc.)
- Then: “Who does your decision affect and what is the short-term effect on those relationships?”
- Finally, “When you think of others, how do your opportunity costs change?” (Remember that opportunity cost includes the reactions of others.)
Parents: Focus on Relationships When Teaching Finance
Whenever possible, we want to teach the subject of finances from the perspective of relationships. There are not many other things that have the impact on our closest relationships like money does! So, we believe the consideration of relationships is vital to proper money management, and this lesson teaches the importance of this with a situation that will grab your kids’ attention.
Read Previous Kids & Money Life Lessons
December 2018
