5 Lessons to Teach _ Kids Financial Literacy at _

April is National Financial Month and while it look a little different _ normal, we are still _ to helping young people __ our communities develop money skills and smart spending _. Instead of visiting schools, __ have put together fun to help you teach _ literacy at home. Don’t , teaching these lessons doesn’t __ a special degree but _ starts with the basics. __&;__ provided all the tips tools to get you __.

 

Being able to determine _ is necessary to have to what is nice __ have is the baseline __ making good financial decisions. __ a family, you likely your money on needs _ as food, shelter and . While the nice to _ expenses, like toys and _, come after those needs _ been met. Demonstrating this _ of behavior with your _ will help them make own financial decisions in future. 

 

 

Kids should learn money &;_ unlimited. Showing opportunity cost _ means explaining that money _ to purchase an item &;_ be available to use __ purchase another item. For __, when shopping for groceries, _ online, kids can be to choose between two _ kinds of crackers. Explain _ there is not room __ the budget for both. 

 

Using a piggy bank __ save money is a idea but may not _ kids the best visual. using a clear jar __ collect your kids’ savings __ they can see the grow. For example, yesterday _ had a dollar bill two quarters. Today, they have a dollar bill, quarters and 5 dimes! them excited about the growing! 

 

 

To go along with savings jar, consider creating other jars: one for and another for sharing. time your kid receives , either from chores or __ a gift, have him __ her divide the money __ among the jars. The jar can be used small items like stickers __ gum. The sharing jar _ be used for donations __ charity.

 

Encourage your kids to _ regularly and explain that _ purchases may require waiting there is enough money. __ their savings and talk __ your kids about goals using their money. Use , simple messages to encourage _:

Every time they add __ their savings, help count much there is and _ about how much more __ needed to reach the _.&_;

 

 

Taking advantage of teachable money moments can help _ grow to be mindful _, savers and givers. Download full Making Life Great __ Home packet for more _ literacy fun!