Educate your children when it comes to money while they are at home without school
Because of coronavirus, many schools do not attend or transition to distance learning and we understand that your children are at home with you or other caregivers. Use our free activities to help children develop the essential skills they will need to manage money towards the morning
Because children are not expected to stay home because they are not in school – from preschool to college – you may be looking for ways to keep your children engaged and learning. We have created games and activities that will help your children and younger adults gain money skills. Best of all, you do not have to be a money expert to use them. Here are some tips and activities to help you teach your children about personal finances.
To develop money skills, follow the three building blocks
We conducted research on how to develop the financial ability of children and younger adults that they will need in adulthood. We divide it into three "building blocks" that children can get as they grow up. All of our financial education activities are based on these three building blocks:
Executive performance
The ability to plan ahead, remember information, multitask, solve problems, and control motivations. Children develop these abilities as early as 3 years of age and continue to develop them throughout childhood.
Habits and financial appreciation
People use standards, shortcuts, routine habits, and rules of living, in tackling daily financial activities. This aspect develops rapidly during elementary school and in the years before adolescence.
Financial decision-making skills
It is important in building familiarity with financial concepts and research and analysis excellence. Adolescents and young adults have good opportunities to develop such skills.
Using building blocks as a framework will help you keep your money-related conversations about age-appropriate. If your children have questions about money topics, you can keep building blocks in mind when you answer. For example, if your child asks about credit cards, here's how you can answer:
For the child attending school, connect your values
“Buying something with a credit card may not be a financial aid, but I do spend it. I promise to pay my credit card bill later, and I have to keep that promise. ”
For the child attending school, connect your values
“Credit cards are convenient, and it is important to use them properly. My personal rule is to use cash for anything less than $ 20, to ensure that small amounts do not overlap and become a big credit card bill. ”
For adolescents and adolescents, develop research skills
"Let's find an online calculator to see how much it will cost to pay the $ 1,000 credit card bill by paying the minimum balance per month."
Learn more about building blocks of financial ability.
Free financial education activities for parents to use with their children
We have put together some of our classroom activities Money As You Grow and Youth Financial Education for you to use with your children. To use classroom activities, you may need to read or download the teacher guide yourself, and then print the student guide and activities for your child and allow them to complete the digital worksheets. that way.
Preschool (ages 3 to 5 years) Building money foundations
Children aged 3 to 5 are often too young to understand abstract financial concepts, but they can build a foundation that will bring them good in the future. These sources of information can help your child when it comes to executive performance - the ability to plan ahead, delay fun, multitask, solve problems, avoid impulsions, and more.
Simulation game - Simulation helps children focus, think appropriately, and plan ahead. Use activity scenarios or use your own imagination! Download the mock game activity.
Space Travel Options - In this activity, your child will decide what to take on a tiny rocket ship. Help them practice choosing and its replacements due to limited resources, a key component of money management.
Money as You Grow Bookshelf - Read some of these popular children's books and use your parent guides to help discuss money lessons. Note: If you do not have these books, you can still use the activities in the latter part of the guides.
Active games that make up control - These help children learn how to wait, follow directions, pay attention, and practice controlling their behavior. Examples: Follow the Leader, Simon Says, and Red Light Green Light.
Children attending school (ages 6-12 years) Learn about financial practices and programs
Between the ages of 6 and 12, you can help your children learn the guidelines and daily habits that shape how they earn, save, and buy. Help your child attend school or is just beginning adolescence and adolescence financial and financial values Always keep in mind that discussing these activities with your child - as they grow, or after - will help them process and use what they are learning.
Bingo on the go - While doing physical distance, drive or stroll around your community and mark the different types of places around your residence and discuss how each area is funded - public, private , nonprofit, or a combination of these.
Using idioms to promote aging - Every language has wise sayings or phrases that give advice on how to live responsibly and think critically. In this activity, your child can explore English sayings that use phrases to better understand financial concepts such as saving and earning money.
Building a good reputation in borrowing money - People with a good reputation as a borrower (borrowing money) are more likely to gain the trust of a lender. In this activity, your child will review the profiles of three people to decide what kind of reputation for borrowing money they have.
Try what television commercials say - Explain to your child that television commercials use special words, music, and atmosphere to give us the desire to buy. On our parenting guide bookshelf for “Bargain for Frances,” it discusses an activity to help your child learn how commercials can affect our thinking. We can become discouraged if we buy something advertised without first knowing about it.
Parent Guides Money As You Grow Bookshelf - Even if your child has grown up with these books, you can still download Parent Guides go to the final pages for activities to do at home .
Adolescents and young adults (ages 13 to 18): Research and practice making money decisions
Adolescents and young adults often start earning and making decisions on their own. Adult supervision, guidance, and attitude can help them successfully navigate it. Below you will find selected activities for your adolescent or young adult that will help with financial knowledge and decision making - research and comparison shopping skills that will help them find reliable information, process it, and adapt to their own situation. Remember that discussing financial decisions with a trusted adult can help teenagers and adolescents to be confident in the way they think.
Family member jobs - In this activity, your teenage or adolescent child can talk to family members to research and compare the jobs they have and what education and training is needed to achieve this.
Reading about insurance - Insurance helps protect people from health and financial risks. Through this activity, your teenager learns ways they can protect themselves from danger and avoid paying big bucks when problems arise.
Choosing the best cell phone plan for you - Product research and comparison when shopping helps people make informed purchasing decisions. Your teenager can research the features and value of cell phones and cell phone plans and use a decision matrix to compare options.
Reporting fraud or identity theft to the authorities - Deception and identity theft affect millions of Americans every year. In this activity, your adolescent or adolescent child matches the descriptions of the crime of deception and identity theft with the appropriate steps of action to be taken in the event of a real crime.
