Prior to using this Quick Discussion Guide, you and your child may want to do any or all of the following activities on "It's My Life":

• Read the "Managing Money" article.

• Work together to come up with a "You Said It" submission for this topic.

• Print out the Crossword Puzzle and/or IML Journal Page “Making Money”. Complete it together or encourage your child to complete it on his/her own.

• Print out the related offline activities Budget Sheet and Monthly Spending Journal to compete with your child.

Discussion Questions:

• What do you think is the difference between wants and needs? What do you feel you need to spend money on? What do you feel you want to spend money on?

• Are there things you spend money on that you don’t think you should have to pay for? Why do you think it’s important for you to cover certain expenses on your own?

• Is there something you’d like to save up for over the long term? How can I help you do that? Would you like to set up a bank savings account?

• Can we work together to set up a money budget for you?

Remember:
-- Teaching your children to save will enable them to plan for the future. Work with them on setting up a saving plan and talk to them about things you’re saving for – a new house, family vacation, a pool, etc. Communicate to them your saving methods.

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