16 Fun and Easy Ways to Teach Financial Literacy to Kids

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How do we teach monetary literacy? As parents and educators, we wish to make sure that kids have the instruments they should spend responsibly. Showing them how to handle money and become self-reliant is simpler than you may think. Check out this assortment of tips and actions to assist teach monetary literacy to kids!

What Is Financial Literacy?

Financial literacy is the important thing to your relationship with money. It’s how you’ll be able to higher perceive and use instruments like budgeting, money management, and investing.

Being financially literate means you know how to repay debt, can create a working budget, and are able to make use of different types of monetary resources to save money.

When Should Kids Learn About Financial Literacy?

When you teach monetary literacy early, it means kids have a greater chance of success. Believe it or not, monetary literacy is an important life skill. What you teach your kids now will assist them handle money higher as an adult. In fact, by age 7, most of our monetary habits are already set.

Teaching monetary literacy helps your child keep away from pitfalls and create good money habits. Both teachers and parents can use these sixteen enjoyable and easy tips and actions to present monetary literacy to kids.

16 Fun Ways to Teach Kids Financial Literacy

Get began with these tips, lesson plans, printables, and actions to assist teach kids monetary literacy.

3 Ways to Teach Kids About Money

  1. Start with an allowance – Having an allowance will assist teach kids that money isn’t an endless supply. Money has to be earned. By having an allowance, kids can learn the important skill of budgeting and the way to make higher choices when it involves spending money.
  2. Open up a financial institution account – Opening up a kids account at your native financial institution or credit score union is a nice way for even youthful kids to have the ability to see their money grow, or dwindle, as they make choices on whether or not to save or spend. Preteens can additionally use a debit card connected to their account to make purchases in shops or online.
  3. Earning their very personal money – Kids can earn their very personal money past simply doing chores across the house. Yard work, babysitting, a storage sale, or a lemonade stand are all nice methods to earn money and deal with money. By incomes their very personal money, kids can select to save it or put it towards one thing they actually want.

4 Lesson Plans About Money

Show Me the Money | Teachers Pay Teachers
This plan is for the youthful set, kindergarten and first grade, with over 70 pages of content.

U.S Currency | USCurrency.gov
Designed for grades 2-5, this “currency academy” is an interactive way to introduce kids to U.S. currency.

Money Math Lesson Plans | Education.com
These classes will assist teach issues like buying items, making change, and figuring out coin values.

Middle School Money Lessons | Practical Money Skills
These classes for grades seven and eight include a teacher’s guide, student activities, PowerPoints, and presentations.

5 Money Printables

Printable Play Money | Teachers Pay Teachers
This printable money is a realistic way to let kids play with money within the classroom or at home.

Money Math Worksheets | Education.com
These printable worksheets are geared towards youthful kids, from preschool to 3rd grade.

Money Worksheets | K5 Learning
This set includes worksheets with everything from counting and recognizing cash to utilizing money when shopping.

Balancing a Budget | Teachers Pay Teachers
Kids from third to fifth grade can learn how to balance a budget whereas strengthening their addition and subtraction skills.

Identifying & Counting Coins | Teachers Pay Teachers
This pack has tons of worksheets, games, and actions to assist teach kids all about coins.

4 Fun Activities

  1. Biz Kid$ – This PBS present is geared towards center schoolers and excessive schoolers. Financial literacy is taught through real-life topics. Watch the present on-line after which obtain the free printables for every episode.
  2. Needs & Wants Game – It’s important to present our children the distinction between wants and wants. Needs are what we have to have, like food, water, medicine, and shelter. Wants are the extras, the enjoyable stuff like toys and electronics. On one side of a piece of paper write “needs” and on the opposite write “wants”. Go across the home and have your child level out what’s a necessity and what’s a want, then write them down on that side of the paper.
  3. Free Comic Books – What’s extra enjoyable than a comedian book book? The Federal Reserve Bank of New York offers free comedian books you can obtain or have them despatched to you within the mail. They assist kids perceive concepts like saving and budgeting, gathering interest, and the economy.
  4. Money With Mak & G – This enjoyable podcast is nice for kids and adults alike. Thirteen-year-old twins Mak and G assist teach a brand new monetary lesson in every episode. Their dad jumps in on the finish of every episode to give his perception as a monetary planner and CPA. Listen to episodes with your kids throughout breakfast or on the way to school.

By serving to kids perceive the worth of a dollar, you assist put them on the proper path.

Creating good money habits now will give kids a strong monetary basis all of the way into adulthood.

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