Teaching Kids About Money: Fun and Educational Activities

Imagine if you grew up learning about personal finance from the get-go. Wouldn't that set the stage for a perfect scenario today? Well, maybe not a resounding "YES," but you catch my drift, right? Teaching your kids about personal finance can help them navigate the unexpected, turning surprises into planned wins. It's no secret that what you grasp as a kid not only sticks faster but becomes a part of your everyday life. So, let's chat about some fun ways to introduce your little ones to the ABCs of money matters!

Published on 2024-04-17

Economic Education Trends

According to the latest Economic Council Survey of the States, there has been a growing awareness of equity in accessing Economics and Personal Finance over the past two years, with 2023 standing out as a particularly impactful year. The numbers reveal that starting in 2022, an additional 12 states have joined the ranks of those requiring students to take personal finance courses to graduate. Notably, 35 countries now mandate students to study personal finance.

But enough theorizing, let's dive into the fun! Here's a list of activities and games to teach your little ones what money is and how to manage it better.

Introducing money concepts for Ages 2 to 5

Teach the little ones what money is and show them using examples from everyday life.

Keeping money safe for Ages 5 to 7

After learning the value of money and how to calculate it, it's important to teach them how to keep money safe and secure. This simple activity can be a starting point for discussing the topic at home.

A little bit of math in a puzzle for Ages 6 to 9

Find different puzzles or materials that you can print to teach your children the value of each coin, how to add them up, and more. You can use real coins or print paper coins. Or even buy this set of toy coins! These games are suitable for children aged 6 to 9.

Managing, Budgeting and Saving Money for ages 9 to 16

Once kids hit a certain age, you know how it goes – they're not exactly lining up to play with us like they used to. So, it's time to switch gears. Let's help them out by introducing some fun activities that'll teach them the ropes of money management. Here are a few pointers to get started:

  • Assign them a monthly or weekly budget and explain what they can use that money for: meals, extracurricular activities, you name it. The toughest part? Staying firm and not dipping into that fund or giving them more money when it runs out.
  • Offer them the chance to earn extra cash by doing some tasks.
  • Teach them to be savvy savers by setting spending limits they can't go over.
  • Suggest they set up their Rainy Day Fund and show them how to save for any surprises that come their way

Get ready for some fun for all ages!

You know those classic games we all love? Well, they're not just entertaining; they're also teaching valuable money skills to kids, teens, and adults alike! Plus, they're perfect for family game nights, sparking great conversations about smart money habits.

  • Fortnite: It's not just about surviving on an island; it's also about mastering money skills. Kids learn to strategize and save up for the good stuff.
  • Minecraft: Who knew those blocks were hiding money lessons? Kids learn to save, budget, and make smart investments for the future.
  • Roblox: It's not just a game; it's a virtual money playground! Kids manage expenses, build businesses, and strike sweet deals.

Finally, as a bonus, a pro tip for parents of 6 to 18-year-olds:

Check out these popular apps offering prepaid debit cards linked to an app. You can reload the card, track spending, and even assign tasks for earning allowances, all from your phone. Check it out!

Let's wrap things up! Teaching kids about money through fun activities isn't just about making it a blast; it's setting them up for success down the road. By introducing these concepts early on and getting them involved in games, we're giving them valuable skills that'll stick with them for life. So let's dive into the fun and get our kids on the path to financial savvy!

Looking to learn more smart ways to save money? Read all about it here. Or better yet