Empower children to become money savvy

Children’s spending has tripled in the U. S. in recent years and by the end of 2006 the direct buying power of kids aged 4 through 12 is expected to exceed $51.8 billion, according to a recent report by the U.S. Kids Market.

To help parents empower their children to become more money savvy, "Cyberchase," the daily math mystery cartoon on PBS Kids Go!, began their Know Your Dough financial literacy campaign. This multimedia initiative includes special TV shows about saving, spending, budgeting and money systems, as well as exciting games and activities on the show’s website.

Here’s a fun budgeting activity for kids from "Cyberchase" math experts. You can do this with your child next time you go to the supermarket.

1. Make some $1 cyberbucks play money with your child. Decorate with your favorite "Cyberchase" characters.

2. Make a shopping list together. About how much do you think you’ll spend? Write your estimate on the list.

3. Have your child count the play money. Is there enough to cover the estimate?

4. Take one envelope and write "wallet" on it. Put the cyberbucks in there. Take another envelope and write "spent" on it. Use that at the store.

5. At the supermarket, have your child check the price as each item goes into the cart, and round it off to the nearest dollar. Take that many play dollars from the "wallet" and put them into the "spent" envelope.

6. When everything on the list is in the cart, have your child count the play money in the "spent" envelope. How close is the total to the estimate you made in Step 2? At the checkout, see if your cyberbuck amount is about the same as what you pay in real dollars.

Where’s the math? Youngsters practice estimation, rounding off numbers and money management.

For more money tips, fun math games and stories, visit Cyberchase online at http://pbskidsgo.org/cyberchase.

This story provided by North American Precis Syndicate, Inc.