Money conversations with Kids
Liktoon’s boat: Kids picture book about entrepreneurship, teamwork and money
We all have dreams. While working hard to achieve these dreams, we make many financial decisions along the way that impact us and our children. What kind of example do we set when we make these financial decisions? Our children are watching and learning. But without context and understanding, their financial learning remains incomplete. Hence, money conversations with our kids should start early and happen often. [pullquote]Liktoon’s boat promotes saving
Games teaching about money
How to grow money
2 ways to teach kids about the risks of gambling
Let’s get this straight – gambling is neither an investment nor a way to earn a living. From an early age, the children need to understand that indulging in any form of gambling like betting or lottery etc. is a bad idea. Just talking to them about this may not suffice. Here are some practical methods you can use to teach them the dangers of gambling.
For Ages 8+
Earning Money
How to talk about money with kids
Kids always surprise you with how much they learn about money from observation. What they don’t learn from their parents, they learn from observing others. However, the adults in a kid’s life do not always make the best role models in financial behavior. So, it is important to talk to kids about money and do it frequently. Kids as young as 3-years old are smart enough to understand basic concepts such as “needs vs wants” and that coins have different shapes. The first step is to think about what everyday topics and activities can be opportunities about money lessons.
Currency Recognition
Teaching the value of coins to children
Around the age of 6, the children start learning addition and start observing their parents making financial decisions, especially about toys, groceries, and treats. Age 6 is a good time to introduce a real-time example of how a simple math skill (addition) can be used in real world. This simple and fun activity will help the children in becoming more confident in math and handling money.
Age 6+
Growing Money
2 ways to teach kids about the risks of gambling
Let’s get this straight – gambling is neither an investment nor a way to earn a living. From an early age, the children need to understand that indulging in any form of gambling like betting or lottery etc. is a bad idea. Just talking to them about this may not suffice. Here are some practical methods you can use to teach them the dangers of gambling.
For Ages 8+