One of the best ways to make a point with kids is to give them real-life examples of things other kids do that underscores your message. \u00a0So, once again, I find myself using my own kids as pawns. \u00a0I hang out with them a lot and, as a result, I end up with a bunch of stories perfect for use in my money classes.<\/p>\n
Here’s one I use when I talk with kids about unwise things to do with our money. \u00a0It’s a lesson on gambling and this particular example has to do with the lottery.<\/p>\n
Now you may be thinking that the kids I work with aren’t even old enough to gamble. \u00a0True. \u00a0But gambling comes in many forms. \u00a0\u00a0<\/p>\n
We had driven to Pleasanton, a town about two hours from our house. \u00a0Ryan had a cross country meet. \u00a0 When we “travel” to these sports events, we usually eat out, a rarity for us, and a treat for the kids.<\/p>\n
We were at McDonald’s ordering our “food” \u00a0when Ryan picked up the McDonald’s Monopoly Game Board. \u00a0This story took place last fall so the game is now over. \u00a0But if you didn’t see one of the boards when the game was out, it’s a mini version of the real Monopoly board and the idea was to collect properties in the form of game stamps. \u00a0<\/p>\n
The game stamps were collected by buying stuff off of the McDonalds menu. \u00a0If you were lucky enough to collect all of one color, then you won a prize.<\/p>\n
Kids haven’t been around long enough to know that these things are rigged. \u00a0And by rigged, I mean rigged in a mathematical way. \u00a0You and I know that the probability of winning both Boardwalk and Park Place and receiving a million dollars is slim to just about none. \u00a0But kids don’t. \u00a0And if they win a free McSomething, it gives them the “bug” to try it again.<\/p>\n
So here’s what happened. \u00a0We were sitting at the table eating when Ryan said, “You don’t know how bad I want to buy a soda right now.” \u00a0Those are his exact words. \u00a0I know because I wrote them down on the Free Parking pass we got for the cross country meet which, as I was writing on it,\u00a0I thought appropriately fit the Monopoly game. \u00a0<\/p>\n
Ryan wanted to buy a soda because we got the Arches Avenue game stamp with lunch. \u00a0 All we needed was Golden Avenue and, voila, we were winners. \u00a0100,000 dollar winners.<\/p>\n
“Go ahead,” \u00a0I told him. \u00a0“But you have to buy the soda with your money.”<\/p>\n
That made him stop and think. \u00a0That happens when you put kids in charge of their own money. \u00a0But a few minutes later he said the exact same thing, only this time with more inflection. \u00a0“You don’t know how bad<\/em> I want to buy a soda right now.”<\/p>\n I repeated my exact words, as well, only minus any added inflection.<\/p>\n He didn’t buy the soda. \u00a0He was unwilling to part with his money for something he knew had a slim chance.\u00a0\u00a0Being a math teacher, I get annoyed at things like the lottery.\u00a0 And my kids know it; we’ve talked about this\u00a0stuff before.\u00a0 That said, you can give kids all the information you want, but at some point they end up on their own, and all we can do is hold our breath and hope they do the right thing.\u00a0 I exhaled with relief as we walked out of McDonalds, short one soda.<\/p>\n Here’s a little exercise I do with my students:\u00a0 Ask yourself where, on average, you would lose the most money: \u00a0gambling in a casino or playing the lottery. \u00a0Most kids, and adults, choose the casino. \u00a0But in reality, the casino takes an average of 5% of the money you initially gamble, while the lottery takes 50%.<\/p>\n Why do kids need to know this? \u00a0Because apparently, “legal” gambling begins early.\u00a0 I consider the McDonald’s Monopoly game gambling.\u00a0\u00a0 Okay, so it’s not hard core gambling, but it is most definitely a form of gambling.\u00a0 And one that we willingly allow our kids to participate in.\u00a0 So they need to know.<\/p>\n It’s just about arming kids with information. \u00a0 The odds of you getting struck by lightening? \u00a01 in 9,000. \u00a0The odds of you winning the lottery? \u00a01 in 7,000,000. \u00a0The odds of you winning the McDonald’s Monopoly game? \u00a0My guess…you’ll probably get struck by lightening first.<\/p>\n","protected":false},"excerpt":{"rendered":" One of the best ways to make a point with kids is to give them real-life examples of things other kids do that underscores your message. \u00a0So, once again, I find myself using my own kids as pawns. \u00a0I hang out with them a lot and, as a result, I end up with a bunch of stories perfect for use in my money classes. Here’s one I use when I talk with kids about unwise things to do with our…<\/p>\n