Halloween Candy Buy-Backs Best With Financial Literacy

by | 10/31/13 | Commentary, Uncategorized

On this Halloween, many financial literacy advocates are promulgating the virtues of teaching kids about money at a time when a growing number of dentists, health professionals and a vast range of organizations are paying children for the candy they collect while trick-or-treating.  The goal of those giving money for candy is to teach kids that they can reap greater benefits from money received for candy than they can from eating the candy.  This, in turn, would spark improved health by removing the temptation kids have to dive into their candy bags and avoid excessive candy intake that could cause problems with teeth, fillings and bridge work.

But the financial incentive for kids gets lost on those who don’t understand the value of money or the various ways in which money could be put to great use.  Financial education professionals contend that once kids understand how money works, they will begin to place much greater value on the dollars they can earn from the candy they collect.

From a different perspective, many believe that financial education for young people is more exciting at Halloween since kids connect their learnings about money with the excitement associated with this kid-friendly holiday.  Furthermore, research has shown that individuals learn more when they are excited about doing so.

If we can successfully leverage Halloween to get kids enthusiastic about learning financial topics, it’s a win-win for everyone.  Parents love the buy-back programs since they provide a means for easily disposing of excess candy.  Health advocates praise these programs for sparking improved health.  And kids love the programs since they can earn money for their candy.  But as financial literacy proponents contend, the incentive for kids will only be effective if children truly understand money, as well as its value, uses and benefits for a more financially stable life ahead.

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