Children and savings
A large part of economics is about saving for what you want and for hard times. Just like the small and cunning arctic fox that gathers food for its winter stockpile.
Make sure your child saves up for something it can reach within a relatively short period of time, so it has a sense of achievement.
Praise and cheer on your child along the way, so it feels proud of its savings.
If your child wants to earn a little extra, you can offer a small reward for a job, e.g. shoveling snow. It creates an understanding that they need to provide something in return for the money.
Make sure your child saves up for something it can reach within a relatively short period of time, so it has a sense of achievement.
Praise and cheer on your child along the way, so it feels proud of its savings.
If your child wants to earn a little extra, you can offer a small reward for a job, e.g. shoveling snow. It creates an understanding that they need to provide something in return for the money.
Children and consumption
Economics is also about being able to use your money and get something for it without spending more money than you have. It is difficult for children to postpone their needs, but they can learn it.
Talk to your child about what things cost. For example, take your child shopping and discuss why there are differences in prices.
Help your child by telling them about things you would like to have but do not buy because you cannot afford them or have chosen to spend the money on something else.
Show your child that it must choose, and sometimes give up one thing to afford something else.
Talk to your child about what things cost. For example, take your child shopping and discuss why there are differences in prices.
Help your child by telling them about things you would like to have but do not buy because you cannot afford them or have chosen to spend the money on something else.
Show your child that it must choose, and sometimes give up one thing to afford something else.
Children and Grønlandsbanken
Young Money is Grønlandsbanken's digital pocket money and savings app for children and young people aged 7-17, which can teach your child about money.
Teach your child that money is also digital and help them save in the app.
Also show that your child can get an overview of what they have spent in the app.
Let your child get a Mastercard Debit card for their account for spending, and teach them that the card is not free to use.
Teach your child that money is also digital and help them save in the app.
Also show that your child can get an overview of what they have spent in the app.
Let your child get a Mastercard Debit card for their account for spending, and teach them that the card is not free to use.