Financial Literacy for Kids: 10 Ways To Build Good Money Habits

As parents, we know that financial literacy for kids is critical. But how do we get started? 

Financial literacy means having the knowledge and skills to manage your money successfully and confidently. These concepts are big and complex and maybe too much for kids to understand.

Early financial literacy gives your kids as much time as possible to learn & internalize the skills you’d like to impart to them. Here are ten ways you can start building good money habits in your kids.

Children constantly observe and learn from people and the world around them. Therefore, one of the best ways to instill financial literacy in kids is to model good money habits.

1. Model Good Money Habits

One of the most basic money skills kids can learn is how to save money. For the youngest of kids, it works best to do this in a tangible, tactile way.

2. Teach Your Kids How To Save

3. Teach Your Kids the Basics of Investing

Eventually, your kids will be old enough to manage their investments. But you don’t have to wait until then to put their money to work.

4. Go Shopping Together

Well, unless your kids plan to live off-grid in a cave, they’ll eventually need to spend money. So, why not teach them the skills to do it wisely?

One of the best ways to do that is to take them shopping with you. You can then weave in financial literacy lessons by showing them how you spend less on the things you need to buy.

Swipe up to earn more!

READ MORE

8 Tips to Help Kids During Virtual Learning

Can You Really Teach Your Baby To Sleep?

simplyrealmoms.com