These lessons can span from savings to being charitable, or even understanding market value.

I always encourage my clients to engage their kids and grandkids in age-appropriate dialogue that can help pave the way for responsible savings and spending habits down the road.

1. Saving For A Rainy Day.

Challenging kids to eat through their candy slowly is good for their health but also gives them a chance to hone their budgeting skills.

It could be a tough sell at first, but their self-control will quickly pay off when they still have half their haul in mid-November and their friends have nothing left but empty wrappers.
 

2. Sharing With Others.

Your kids might not have deep pockets to support a local charity, but candy is a commodity that can be easily shared.

Some nonprofits redistribute donated candy to U.S. troops, service members, wounded heroes, and veterans. Homeless shelters and senior centers generally accept unopened candy as well.
 

3. Dealing With Taxation.

We all know that death and taxes are inevitable. This might be a good opportunity to help explain to your kids a lesson on taxes with a “mom or dad tax” on their loot (candy).

Help them understand that this tax will help support the cost of shared resources. Just keep it simple, and prepare for some pushback.
 

4. Understanding Market Value.

This might be my favorite. Kids quickly learn that different candies are worth different values. After a fun night of trick-or-treating, kids tend to haggle among their friends and siblings. They create a market without even knowing it.

Some candies are more coveted than others, hiking up the trading price. This is a great opportunity to explain market value and how quantity is not always better quality.
 

The best way to teach our kids to is to lead by example and include them in real-life conversations. Show them what it means to be charitable and the importance of saving.

Encouraging good money management habits now will set them up for a successful future.

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