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Money Management: Coupon Crazy4/23/2018

Picture of child writing

Lesson: Coupons can be valuable money-saving tools, but only when used properly.

Ages: 8 and up

Taking advantage of sales and coupons can help you save significantly at the grocery store.  Help teach your kid the value of coupons and how to use them wisely, with this fun activity.

Materials needed:

  • Online coupon circulars and/or newspapers
  • Online storefront of your favorite store
  • Calculator
  • Paper and pen

Instructions:

  1. Sit down with your child and ask them to create a spending plan for this week’s groceries.  Set a budget and a shopping list for the items your family needs.
  2. Making no mention of coupons and using the online storefront of your local grocer, have your child add up the cost of all the items on your list.  Once they have finished “shopping,” request a “receipt” for the cost of their total grocery bill. 
  3. Stress that the challenge in the activity is to see how far the budget for a week’s groceries can go and to stay under budget.  You can offer an incentive to your child by promising to use any leftover budget money for a special treat or toy.
  4. Next, introduce coupons, but make sure to explain why buying something you have no need for just because there is a coupon isn’t a good idea.  Let your child decide which coupons are worth using.
  5. Watch your child use their budgeting skills and smarts to “shop” for the family and try to save as much as possible.

If your child is older, you can do this in real life!  Take your child to the grocery store with you, to help show just how important setting a budget and couponing can be.



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