Kate McKinnon Teaches Kids Important Lessons About Money Using Some Interesting Techniques

This is hilarious ... and important.

Money and finances are two topics that can be tricky to understand — especially for kids. But in a new video for Financial Literacy Month, Kate McKinnon partnered up with Beth Kobliner, a financial journalist and New York Times best-selling author, to talk to kids about money. 

In the video, McKinnon sits at a table with three young kids: Justine, Ricky, and Jillian. Then, she probes them with questions about money, starting with a simple one: "Do you know what money is?"

"I have a lot of money in my boot," Jillian says. "It's like a piggy bank, except it's a boot."


Then, McKinnon stands behind a toy booth, offering the kids different toys in exchange for a particular amount of tickets. When Justine wants a pair of big toy glasses but doesn't have the eight tickets required to buy it, the question becomes: "Should you take out a loan?"

"We have a situation," McKinnon tells her. "I could give you the glasses if you choose to take out a loan. That means I'm going to lend you two tickets, but then you have to come back to my house next week with nine tickets."

With that, Kobliner steps in to offer a little advice: "Kate's offer may sound great, but be careful when you borrow. It can cost you lots of extra tickets come payback time." 

Later, McKinnon talks to the kids about what jobs they want to have when they grow up, what credit cards are, and what "delayed gratification" is. 

To demonstrate the latter, the kids try asking McKinnon for pizza, but McKinnon asks them: "Would you rather eat one bite of pizza now or a whole slice later?"

Kobliner comes back to help the kids out: "Waiting is an important skill. When you wait, you can save up for something you really want, like a slice of pizza."

At the end of the video, the kids have learned that "money is important" and that "money is actually very good to spend on stuff," but hey — we're making progress. Finally, the video reminds viewers that "money habits are set by age 7," so we should start teaching kids about those habits early on. 

You can check out more in the video below:

(H/T: People)

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