As parents, we want our children’s future to be happy and prosperous. We work hard and do our best to make a living for them to get a good education and a better life. Part of that good education is teaching them the value of money and how to make good financial decisions in a simple and meaningful way.
At what age is it appropriate for them to learn about the value of money? What are the simple and fun ways so they can understand it well and enjoy it while learning?
Starting at an early age is the wisest decision. Teaching them about money, financial concepts, and savings at an early age is beneficial. It can influence their spending and savings habits for a lifetime. They will remember and understand that money can make their future secure and stable future. If you think that teaching them about money at an early age is a difficult task and may find them boring, that was before because at this time there are many simple concepts, games, and other fun ways to teach our kids financial literacy.
As a mother, I’m always looking for easy and fun ways to teach my kids so they won’t find it boring. I am thankful for the latest technologies, financial literacy creators, websites, and app developers for creating such brilliant and fun tools that will be of help in introducing our kids to money, its value, and how to earn and spend wisely. Here are some great books, ways, business classes, and financial literacy games that you can reference to teach your little one all about money.
Enjoy these fun online games for FREE where kids can learn about money in a fun way. Sharing below the top 2 games that we enjoy playing online. These games are fun where kids can practice basic arithmetic computation, buying, and selling.
Grocery Cashier is a game where the player operates a virtual cash register. Through this online game, kids can practice addition, subtraction, and familiarity with money.
The game starts with clicking the “TAP TO BEGIN”, grocery items with corresponding prices will show in the cashier counter. As a grocery cashier player, you will have to input or enter the cost of each item that comes down in the conveyor belt and then have to add them by tapping the plus button.
After entering all the items that, press the “TOTAL” button to calculate the amount to pay by the customer. If the customer pays via gift certificates, enter the amount of the gift certificate and the minus sign then click the “DONE” button.
Coffee Shop is an online game that teaches players the aspects of running a coffee shop business. The player of this game will manage the operation of the shop including, budgeting the cash flow, setting the price of the coffee, inventory of ingredients used, and reading feedback from customers which makes the game fun and interactive. Through this game, kids will be able to learn budgeting, spending money wisely, and making a profit.
The game starts with a starting capital of $30 that can be used to purchase materials and ingredients for the business. From that investment, the coffee shop owner’s goal is to gain profit as much as they can in 14 days.
Kids can get bored pretty quickly when they play the same game for a while, and with ABCmouse, they have the choice of hundreds of games. While it is not free, it does offer a lot in terms of educational games, including maths, reading, art, and science, and it even has printables – so if you want your child to take a break from the iPad, then they can use the printables instead.
ABCMouse is perfect for children aged 2-8 and will help your child reach their literacy goals!
- Great Money Literacy Books For Kids
Reading is great for kids. It’s a way to improve their vocabulary and learn new things. Aside from story books, reading money literacy books at an early age helps them understand how money is earned and should be spent. Here are some great books for kids you can refer to teach about the importance of money
Bunny Money by Rosemary Wells
This book is a funny story about two bunnies named Max and Ruby, who want to buy a perfect birthday gift for their beloved Grandmother with the money saved by Ruby. Together with her brother Max then step out to buy a gift. However, before reaching the gift shop they spent the money on several unimportant things which results in dwindling their savings. Money management is the biggest lesson from this book for it gives a good visual understanding of not spending money on unnecessary things.
Lemonade in Winter by Emily Jenkins and G. Brian Karas
A storybook about two siblings who attempt to make money by selling lemonade stand in the middle of winter days. The book teaches the kids about money, counting, addition, subtraction, sorting, and a bit of running a business. This also helps kids think creatively about how to increase sales and identify the differences between costs, sales, and profits.
This season of gift giving, give the gift of practical skills and knowledge like learning how to start a business by signing them up for a business class for kids. There are available courses online that can be taken anytime, anywhere – after school, on weekends, or during school holidays. Through business courses, kids will learn how to start a business, understand marketing principles, and how they influence customer behavior so that they can make wise purchasing decisions and avoid impulsive purchases. Business courses for kids are smart investments because the course equips them with the knowledge they will need as they grow up.