Teaching Kids About Money on el Dia de Reyes | H&R Block
January 6, 2016 : Violeta Stauffer-Rodriguez – Past Contributor
Three Kings Day, or “Feast of the Epiphany,” is one of the most celebrated festivities in many Hispanic households. Every January 6, it celebrates how the Three Wise Men arrived with gifts for baby Jesus.
In the Latino community it has the same importance as Christmas Day, the holiday season is not over until the celebration of Dia de Reyes. It’s also a great opportunity to start teaching kids about money, especially now that a new year has started.
You may ask, how? Well, Dia de Reyes is also a time for gift-giving and celebration. Your kids can receive not only a gift that you know they will love, but also a good lesson about the importance of managing their money. Here are five smart ideas to help you teach your kids while celebrating, too.
1. Play and learn.
Dia de Reyes could the perfect time to spend some time together and play a variety of games that teach basic financial concepts, like Sesame Street: for me, for you, for later or Monopoly. The Sesame Street videos and games are also available in Spanish.
2. Monetary gifts and the three-jar system.
If the Tio or Primo gave the kids cash as a gift, this is the perfect opportunity to teach about money management through the three-jar system. What you need to do is label three jars: Saving, Spending and Charitable Giving. It allows them to make choices with their money. The good news is that they can do this year-round. There are no strict age limitations; you can do it with your teenager and your 6-year-old.
3. Chores and jobs during the celebration.
Children can help bake the Rosca de Reyes, help you welcome guests and assist with other things around the house. This will demonstrate the value of work.
4. Talk about money.
Money talk can be a difficult topic for many parents, but don’t be shy; every opportunity counts. Invite your kids to do some of the food shopping for the celebration, and explain how you plan your purchases. It’s important you show them the importance of having a grocery list, for example. Little things can make a huge difference, and your example will help them more than anything.
I hope you and your familia celebrate a wonderful Three King’s Day. Our best wishes for 2016!