How to help your child succeed at school

Teaching children about money from a young age is crucial for their financial literacy and responsible money management. The provided suggestions offer practical and engaging ways to introduce various financial concepts to children of different age groups. 

 

Ages 2 and 3

Games. introduce the names of coins through games, such as matching games.

Play Shop. Use imaginary games like playing shop to introduce basic concepts of commerce.

 

Ages 4 and 5

Coupon Clipping. Involve preschoolers in coupon clipping before going to the supermarket to teach them about saving money.

Play Restaurant. Encourage playing restaurant at home to develop various skills and introduce the concept of paying the bill.

 

Ages 6 and 8

Opening a Savings Account. Make a trip to the bank an event and help your child open a savings account to teach the importance of saving.

Coin Collecting. Introduce coin collecting as a hobby.

 

Ages 9 to 12

Comparison Shopping. Teach kids about value by comparing prices, sizes, and quality during shopping.

Garage Sale or Market Stall Project. Involve children in organizing a garage sale or market stall to learn about setting values, decision-making, and negotiation.

Budgeting. Help children set a budget by discussing wants vs. needs, emphasizing the importance of prioritizing expenses.

 

Charity as a Money Lesson:

Selecting Charitable Organizations. Encourage your child to choose charitable organizations of interest.

Research and Decision-Making. Make it a family project to research these organizations, understand their mission, and evaluate their effectiveness.

Social Responsibility. Emphasize the importance of giving to charity as a way to instill social responsibility in children.

 

By incorporating these activities into day-to-day life, parents can seamlessly integrate financial education into their children's routines, fostering a healthy understanding of money from a young age.

Laura Leung

Teaching and Learning