Teaching Young Children about Financial Literacy

Financial literacy plays a major role in our society and economy, hence, why it is crucial to have a decent background in this knowledge. Below we have listed a few resources and tips to better assist those looking to develop their ideas:

1. Building Healthy Money Habits Early On

   Teaching your child about money from an early age can help them build responsible financial habits that last a lifetime.

   
   

2. Promoting Delayed Gratification and Long-Term Planning

   Financial literacy helps children understand the concept of delayed gratification. Instead of buying something impulsively, they’ll learn the value of saving for something more significant in the future.

   
   

3. Financial Books for Kids

   1. Just Saving My Money by Mercer Mayer

   2. Rock, Brock, and the Savings Shock by Sheila Bair

   3. Paper or Plastic (Money Monsters) by Okeoma Moronu Schreiner 

   4. A Boy, a Budget, and a Dream by Jasmine Paul

   5. Little Daymond Learns to Earn by Daymond John

      
      

4. Use Activities to Garner More Interest

   • Create a savings jar or digital savings tracker where the child can visually see progress toward their goal.

   • Play "Store" with Play Money

   • Allowance with a Budget