Activity Idea: Who Can Save Their Family the Most Money?

I got this idea after watching this video from The Telegraph about five tricks to saving money (in this case, Pounds) on household bills (in this case their energy bill):

This family of four said they are generally savvy when it comes to getting the best deal from their energy tariff and cutting their energy use.  However, parents Andrew and Avani Higgins – along with their son Theo, 13, and daughter Lily, 12, wanted to know if they could cut their annual bill, typically £2,000, even further.

What if you asked your students to partner with their parents/guardians to come up with ways to reduce their family’s expenses?  You might even be able to have a “Biggest Loser” prize for the student who comes up with the idea that saves their family the most money.  As they think about potential cost-savings categories, Next Gen’s Personal Finance Budgeting Lessons could be a helpful starting point or you could challenge them to find 3-4 online resources to assist in developing cost-saving strategies.  One of the great benefits of an activity like this is to get the money conversation going between parents and their children.