Financial Literacy Resources for Kids

Teaching children about money management from a young age is crucial for their future financial well-being. Thankfully, numerous resources are available to make learning about finance engaging and accessible for kids of all ages.

Age-Appropriate Resources

• Early Childhood (Ages 3-7): Focus on basic concepts like saving, spending, and earning.
  • Picture Books: Books like "Alexander, Who Used to Be Rich Last Sunday" by Judith Viorst and "The Berenstain Bears' Dollars and Sense" by Stan and Jan Berenstain introduce money concepts in a relatable way.
  • Chores and Allowances: Assign simple chores and provide a small allowance to demonstrate the connection between work and money.
  • Piggy Banks: A physical piggy bank helps children visualize their savings accumulating.
  • Games: Simple counting games and pretend play involving money can reinforce basic math skills and introduce the idea of transactions.
• Elementary School (Ages 8-12): Introduce more complex topics like budgeting, saving goals, and the difference between needs and wants.
  • Online Games and Simulations: Websites like Practical Money Skills for Life and hands on banking offer interactive games and simulations that teach budgeting, investing, and credit management.
  • Board Games: Monopoly and The Game of Life can introduce concepts like property ownership, income, and expenses.
  • Budgeting Apps: Kid-friendly budgeting apps can help children track their spending and saving.
  • Savings Accounts: Opening a savings account in their name encourages them to save for specific goals.
• Middle and High School (Ages 13-18): Cover topics like investing, credit cards, student loans, and long-term financial planning.
  • Online Courses and Workshops: Many organizations offer free or low-cost online courses and workshops on personal finance for teens.
  • Investment Clubs: Joining or starting an investment club allows teenagers to learn about investing in a hands-on environment.
  • Financial Literacy Apps: Apps that simulate investing or managing a credit card can provide valuable experience without real-world risk.
  • Guest Speakers: Invite financial professionals to speak to students about relevant topics like college financing and retirement planning.

Free Resources

Many excellent financial literacy resources are available for free:

• Government Websites: The Consumer Financial Protection Bureau (CFPB) and the U.S. Securities and Exchange Commission (SEC) offer valuable educational materials.
• Non-Profit Organizations: Organizations like Junior Achievement and the Council for Economic Education provide free programs and resources for schools and families.
• Libraries: Libraries offer a wide range of books, magazines, and online resources on personal finance.

Making it Engaging

The key to successfully teaching children about finance is to make it engaging and relevant to their lives. Use real-life examples, involve them in family financial decisions, and encourage them to ask questions. By starting early and providing age-appropriate resources, you can help your children develop the skills and knowledge they need to achieve financial success in the future.