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Blog - Tying in JA Pillars on the 4th of July!

Happy 4th of July! Smack dab in the middle of the week this year, Wednesday will see Kansans celebrating America in the best way we know how - with food, friends, & fireworks! 

While summertime is a great time for kids to enjoy being out of school, there are always opportunities to teach kids about JA's three pillars: financial literacy, workforce readiness, & entrepreneurship. Here are some ideas to keep these top of mind when celebrating with your kiddos this week.. 

  • Want vs. Need: Before you head to the fireworks stand, make a list with your kids about what they would like to buy. As they're talking about all the different types of fireworks they would like, discuss with them whether that firework is a want or a need. If they had only five spots on their fireworks list, which fireworks would make it? Are they wants or are they needs? 
  • Profit vs. Loss: Are the kids using their piggy bank / allowance money to buy fireworks? What a great time to tie in profit and loss. Before purchasing, talk to them about how much money they currently have (profit) and how they can keep their profit by not spending all their money on fireworks. Talk about how if they spent more than they have, they would suffer a loss. Even use the bills as real-life examples, by taking them away and adding to the piggy bank to simulate profit and loss. 
  • Budget: Have the kiddos spread out their money and talk to them about budgeting. Is there anything else they want to spend money on this summer? Maybe their 4th of July budget is just a part of their summer budget. Explain that when they budget, they have to be diligent in following it or they won't have enough money for everything they'd like to do. Help them by creating a budget sheet, where they put in their numbers and have them track it as they spend their money. 
  • Taxes: Demonstrate real-life how taxes work in the world. Help them find the tax rate in your city before you head to the grocery store for all your cookout needs. As they put stuff in their cart, explain how the price will increase after taxes are applied. If they are old enough, have them figure tax on their items before they head to the checkout line! See how close they get! 

These are just a few ways to keep JA's pillars at the forefront while still celebrating the 4th! 

JA will be closed on Wednesday in observance of the holiday, but we wish everyone the best day!