Making a Difference: Teach Kids About Money

July is Make a Difference to Children Month and a great opportunity to make an impact on the kids in our lives and insure they have a strong foundation of financial knowledge. Check out these resources to learn more:

At a young age we begin to form habits that we will carry throughout our lives, so it’s never too early to start teaching young children about money. The Consumer Financial Protection Bureau (CFPB) has resources that you can use to teach kids between the ages of 3 and 5 foundational concepts such as earning, saving, and planning. The Money as You Grow Bookshelf includes a list of books and guides that you can use when reading together.
It is important to not shy away from conversations about money at home. Including children in money decisions can help them be more aware of how money is used in the household. Your child may have a lot of wants. Talking about money can help them understand why they may not be able to have something now and provide an opportunity to learn about saving. Our module, Family Conversation About Money, has tips and activities that are age-appropriate to help guide your discussions.
Simulations are a great way to help teens learn about money. The reality-factor is engaging and gives them the opportunity to use critical thinking skills to find solutions. Banzai Courses use real-life scenarios to help teens and young adults navigate financial concepts.
Finally, learning should be fun! Through humorous story telling, our series of Money Management Videos helps teach complex financial concepts in a clear and easy to understand way.

Teaching youth about money is important. When people don’t learn about finances, it can have a negative impact on every aspect of their lives, including their health and relationships. Through financial literacy, we can build a well-informed generation who will be healthier, more productive, and resilient.

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(July 2024)