School’s out and summer’s in—but learning doesn’t have to stop! For Nigerian families in the UK, the summer holidays are a golden opportunity to teach your kids key life skills—especially money management. Here are fun, practical ways to raise money-smart kids while making the most of the warmer months.
1. Start a Mini Business (Yes, Even a Lemonade Stand Works!)
Encourage your kids to run a small summer hustle—whether it’s a lemonade stand in the park, selling puff-puffs at a church picnic, or helping neighbours with small tasks. The goal is to teach budgeting, customer service, and simple record-keeping.
Help them plan the business together—what they’ll sell, how much to spend, and what they want to earn. Let them handle the shopping list within a set budget. When it’s over, count the earnings together—and don’t forget to deduct the initial costs so they understand profit and reinvestment.
2. Involve Kids in Family Budgeting
Make money talk part of everyday family life. Include your children in simple budget discussions, like deciding between a movie night or a family takeaway treat. Let them help with the grocery list or compare prices at the store.
You can also explain why energy bills are higher in the summer or how much the family is saving towards that December Nigeria trip. These conversations build money confidence early—and give kids a sense of responsibility.
3. Visit the Library and Read Money Books Together
Your local UK library is full of free resources—including books that introduce kids to money matters. Look out for titles like:
- “If You Made a Million” by David M. Schwartz (for younger children)
- “Get to Know: Money” by Kalpana Fitzpatrick (UK-focused)
- “I Want More Pizza” by Steve Burkholder (for teens)
Read together and use these moments to open up casual chats about money goals, spending habits, or questions they might have.
4. Create “Give, Save, Spend” Jars
Instead of just giving your kids pocket money or an allowance, use the “Give, Save, Spend” method.
Label three jars or containers and have your child divide any money they receive:
- Give – to support a church, mosque, charity, or someone in need
- Save – for bigger goals like a toy, gadget or future trip
- Spend – for treats or smaller wants
This simple system teaches balance, generosity, and delayed gratification. Decorating the jars can also be a fun bonding activity.
5. Learn Through Games
Board games and online games are a brilliant way to teach money lessons in a fun, low-pressure way. Classics like Monopoly can show the value of saving and investing. Ticket to Ride and Settlers of Catan help build decision-making and resource management skills.
There are also free digital games and apps tailored to teach kids budgeting, borrowing, investing, and goal setting—great for screen time that’s actually educational!
Final Thoughts
Raising financially literate children is one of the greatest gifts you can give them—especially while navigating life as a Nigerian family in the UK. These small summer activities can go a long way in shaping your child’s mindset about money, responsibility, and planning for the future.
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