Financial Literacy For Kids Can Empower Their Future
Do you want to empower your kids to have a financially secure future? We need to provide financial literacy for kids starting at an early age.
Research from the University of Cambridge suggests that our financial habits are set by age 7.
Financial literacy for kids will help them to understand financial concepts and technological tools that are fundamental to being savvy about managing money.
Financial Literacy For Kids Can Empower
Buy them a piggy bank so they can put physical coins to fill it up. Some piggy banks are transparent so they can see their money grow.
1. Saving Money
We need to help them distinguish between needs and wants using examples like paying rent or buying a giant TV.
2. Understanding Wants versus Needs
It is “Keeping Up With The Joneses” on steroids and influences us, let alone our kids, to make impulsive purchases they either don’t need or afford.
3. Social Media Spurs “Keeping Up With The Jones”
There are several fintech apps, including Greenlight, that parents can use to motivate their kids to earn money by doing chores, saving money, and learning to invest.
4. Earning Allowances
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