How Googly Bands Can Teach Kids Financial Literacy
The latest craze at our elementary school is these Googly Bands which are basically rubber/plastic bands shaped like animals that kids wear, en masse, as bracelets. Word was out FAST which stores had them and which were sold out. They are $2.50 for a dozen at some gift stores in town and as I walked in with my oldest, who had been bugging me all week to take her, I literally heard the store owner on the phone with Googly Bands asking how fast they could ship more.
Capability:Mom has a nice post about a contest they are running that I am to ADD to figure out. All I know is that Capability:Mom said that as a member of Twitter Moms (we both are), we can get some Googly Bands free to blog about and this was the FIRST time my kids encouraged me to post on my blog. “Go ahead Mom! Write a post and GET US SOME GOOGLY BANDS!” Alas, there was a surge of demand from bloggers and we both were shut out.
However, the nice people at Googly Bands said that it was still encouraged to post on them. Hmmm… I have got to figure out the monetization of the blogging thing soon!
Have Googly Bands hit your schools yet? It’s a harmless fad and not as expensive as some. My kids are spending their own money to purchase them which is the only way I figured out to limit their appetite for them. They like to trade them or include them as birthday gifts. They make great goody bag stuffers too.
To apply the principles of personal finance (my last post) towards this trend of Googly Bands, here is a perfect TEACHABLE MOMENT:
- Have the kids pay with their own money
- Or let them earn it as a reward
- Comparison shop. Apparently the ones at CVS are not good but less expensive. Are the prices the same at different gift shops in town?
- Why do they think they want/need Googly Bands. What was the last trend at school and why did it last? Why did it end?
- How long do they think this trend will last? How many is Googly Bands are enough?