Winter Break Challenges from the Ross Roeder Institute

Hello Shorecrest Community and Happy Holidays!

I hope you are preparing for an amazing holiday season and a chance to break and breathe with the people you love. Thank you for welcoming me and the Ross Roeder Institute into the Shorecrest Community. We have had a great start and look forward to working with you and your children into 2024! 

Here are a few quick holiday challenges for you to keep the financial literacy conversation going over Winter Break:  

Guesstimate Game:

Challenge #1 - All Grades: Video Games - Play them

Play video games with your kids and spot the financial aspects of the game. No, not just the money they ask you for to buy things, but the financial conversations that are actually a huge part of the strategy in many of these games. The questions to ask:

1. How do you earn coins / vbucks or whatever that world’s currency is? How do you know when you have alot?
2. How do you get a new avatar / skin / etc - is there a store?
3. What do you need to do to level up?   
4. How did you get so good at this game?
5. Do you have a goal that you are going for in this game?

This has two cool impacts - one, you get to talk to your kid about their “thing” which makes you a cooler parent; and two, you get some insight into one of your kids most ubiquitous classrooms, the gaming console.

If your kids are playing video games or watching YouTube videos (yes, you have to watch the videos with them too), they are seeing money in action every single day. Jump into the conversation over the break and remember you don’t have to do the teaching to have the impact… have them teach you.

Challenge #2 - Middle School / Upper School: Chill Time is a Need, not a Want   

We spent some time allocating resources, building budgets and setting goals in our Financial Literacy Class. Rather than focusing on dollars and cents, we actually used their most precious of resources - time - to build our budgeting skills. We started with our “needs” - the things we must do; then moved to our “wants,” the things that we want to do; we even planned in some “emergency budget” time to help us get through each week. Your kids are pretty good about valuing their time, it’s an interesting exercise to see where they put the most value.   

If you are traveling, I am sure that you are planning activities. Take the time to build a “Travel Budget” together and insert time for your needs (food, sleep) and your wants (skiing, playing, etc.) and put aside an “emergency” fund for chill out time.   

Challenge #3 - Experiential School / Lower School: Value is in the eye of the toy holder

It’s that time of year when toys flow in, and as a parent you may be itching to see some flow out.  The answer to the question, “Which of these should we get rid of?” is always “None!” The answer to, “Do you think any of these might be enjoyed by another child?” can usually ease our way into a chance to give back and donate some toys. This teaches kids that there is long term value to the things they play with, and that value extends beyond their playrooms and into the entire community.     

All Grades: Money can’t buy happiness but it can buy a cake

Baking is the ultimate exercise in critical thinking, resource management, a little chemistry, and in my house… risk management. Have them pick the recipe, go to the store, figure out your Return on Investment. Your Yum to Dollar ratio should be high!

Have some fun with this! Be the learner - not the educator - and have a wonderful holiday season!

Earl Walton
Director of RRI

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