Ideas for Money Wisdom #5

💡 When you pool money (savings / pocket money) toward a shared goal, you buy more and achieve more 🤝

Money, too, can be combined into one shared goal, which makes the whole bigger than the sum of its parts.

Just like in the question of how 3 children can buy a ball for 30 NIS when each of them only gets 10 NIS in pocket money, the shortest and fastest way to buy the ball is to pool the pocket money of all the friends and buy the ball together.

Another, longer way is for each friend to save their own pocket money for 3 weeks (3 weeks * 10 NIS a week = 30 NIS) to reach the goal and buy the ball.

Another way could be to convince your brothers/sisters to pool their pocket money together and buy the ball together as a family.

Another example:
We have 30 children in preschool and we want to buy candy for the whole class.
Each of the children in preschool only has 1 NIS.
One candy costs 2 NIS, and a bag of candy (with 60 pieces) costs 30 NIS.

The problem
One NIS isn't enough to buy a candy for everyone, and it's also not enough to buy a bag of candy for everyone. 

The solution: 
What happens if we pool all the NIS of all 30 children?
Child 1 = 1 NIS
30 children = 30 NIS
30 NIS = a bag of candy for all the children in preschool.

The conclusion:
Pooling the pocket money of all the children together lets us reach the shared goal faster.

Can you come up with another conclusion?

How much candy will each child get now? 


Pool your savings with friends or with your brothers and sisters toward a shared goal!

Together we buy more and achieve more 🤝


Ready for a challenge? We've prepared some extra challenges for you to try

Try checking together. Take two small toys that can be joined into one toy, and see if playing with them together is really more fun than playing with them apart.

Easy
1. Check together whether two small snacks together are more filling than one big snack at the same price.
2. Ask your child: which two friends would you combine into one team to make it the strongest, and why them specifically.

A bit of a stretch
3. Choose two games you have at home together and try to combine them into one whole new game, and check if it works.
4. After saving together with a sibling or friend toward a shared goal, check how long it took compared to saving alone.

Challenge for champions
5. Ask your child to invent a new product that combines two existing products that weren't connected before.
6. Try together to think of a service or store that could be combined with one more service, and imagine what that would look like.
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