If you’re a parent, you know the excitement that surrounds Halloween for your kids – from picking out the perfect costume to watching scary movies and of course, trick-or-treating around the neighborhood for that coveted giant candy stash.
While the kids might gorge themselves on Halloween, there’s a huge opportunity to teach them a thing or two about personal finances within that giant pile of sweets. Step 1? Put all of that candy into one pile and set a rule that each kid will be limited to one piece to enjoy after dinner each night.
Now, you’re probably wondering why torturing your kids like this has anything to do with teaching them about money. Here’s why…
When it comes time to choose that coveted piece of candy, your kid will be forced to make a decision about what they want. As you know, life is just a series of decisions – especially when it comes to finances. Stress the importance of decision-making, even as they plead their case for one more piece.
By spreading out the candy, you’ll also show the value of making something last – and with the one-piece-a-day rule in effect, that candy will last until Christmas. Explain this to your kids and stress how this can relate to money and budgets.
On the topic of budgets, enforcing this rule will also control impulsiveness. We were all kids once, and we understand that a giant pile of candy in the eyes of a child screams ‘eat me!’ Encouraging your children to make their candy last through the end of the year can teach them the value of not acting on impulses.
Besides the hidden financial lessons a pile of Halloween candy can impart on your kids, not gorging on their candy all at once also lends way to healthy lifestyle choices, which could also save on healthcare costs down the road.