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Experts Share The Best Way To Teach Financial Literacy To Children

Many parents advocate for financial literacy in school curriculum, feeling their kids don't get enough financial education. Experts share tips on teaching kids money management.

Financial Literacy Apps

Find free financial literacy apps for children like World of Money, Famzoo, and RoosterMoney online. They offer features like virtual piggy banks, savings trackers, and video tutorials on budgeting, saving, and investing. Simon Bacher, Creators of the Ling App.

Practical Experiences

Teach kids financial responsibility by giving them allowance to spend, save & share. Start a saving jar for a goal. This fosters patience, goal-setting & a healthy financial mindset. Onur Kutlubay, Founder of YouParcel

Leading By Example

"Teach kids financial responsibility by modeling, giving allowances, encouraging saving & charity, opening bank accounts, and involving them in budgeting and shopping. Rikin Shah, CEO of GetSure"

Gamification

Gamifying financial education via Visa's Financial Football makes the subject exciting and emphasises its importance in a fun, informative way. - Worku Gachou, Visa's Head of Inclusive Impact.

Gifting Stocks

Gift stocks, not toys, on birthdays to familiarize kids with investing early on. Choose a stock they'd like or consume, like Disney or McDonalds. Monitor the investments with your child regularly. Andrea Woroch, Money-Saving Expert

Gift Cards

Buy gift cards from Stockpile to give kids fractional shares of big stocks like Amazon or Disney as a recurring gift for birthdays, to encourage investing. Andrea Woroch, Money-Saving Expert

Keep It Positive

"Teach kids hard financial truths positively and entertainingly. They're smart and can handle it. - Bob Weinschenk, Co-creator of FreeKick"

Don’t Overcomplicate

Avoid complex finance topics like credit scores or stocks if your child is unacquainted. Start simple. - Bob Weinschenk, Co-creator of FreeKick

Explain Purchases

Discuss buying, selling, and saving impacts with your kids. Explain your choices and timing. -Bob Weinschenk, Co-creator of FreeKick

Start With An Allowance

Start with a clearly understood allowance. Is it tied to chores or as sole revenue for leisure activities or future savings? Defining this helps kids make spending decisions. Bob Weinschenk, Co-creator of FreeKick

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