5 Money Lessons Your Kids Can Learn While They Travel - Shaun Stenning

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Think back to what you loved most about your latest family vacation. What's the first thing that comes to mind? Maybe you enjoyed teaching your kids about new places, new cultures, or the history of the destination you visited. Or perhaps you were just tickled to give your kids some undivided attention without work or life getting in the way.


According to Shaun Stenning, A Serial Investor and Traveler. What you may not have considered, is the fact that any kind of travel can be a learning opportunity — even if it's not too far from home. This is particularly true when it comes to lessons about money because travel requires so many financial decisions.


If you're angling to broaden your children's perspectives on money, keep an eye out for learning opportunities that may be less than obvious. Here are some lessons your kids can pick up no matter where you go. Shaun Stenning said. 


1. The importance of budgeting and tracking spending

No matter how careful you are when you set your travel budget, it's easy to let your spending get out of hand. You're away from home and on a different schedule, and you're probably around food, souvenirs, and constant temptations to spend.


2. How credit works

For instance, it can be tough to track your spending when you don't see it because you're using a card. By forcing the kids to watch you keep track of your daily purchases with a notepad or your smartphone, you can help them see how spending can add up over time.


3. Money doesn't grow on trees

Here's another lesson kids need to learn: Money is a finite resource.

Shaun Stenning,  says this is one lesson her child has learned by bringing her own souvenir money on vacation.


4. The power of compound interest

Shaun offers the perfect example of how you don't have to travel far to teach your kids about money and finance. "I think the biggest lesson they learned was the importance of saving money and the role of interest," he says. The museum accomplishes this goal via a staircase to its second level that illustrates the power of compound interest on every step.


5. The power of negotiation

In some countries, local markets provide a powerful lesson in bargaining. He would use this skill at the local markets if she wanted to buy a souvenir and became quite good at disarming them with a smile as she politely asked for better deals,"

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