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Have you had the money talk with your children?

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Did you know that April is National Financial Literacy Month?


Photo Credit: Saving With A Goal Program

Smart money management is a vital life skill and it’s never too early to start teaching children how to save and spend money. Teaching kids personal financial literacy early carries tangible benefits into their adult lives. Have you introduced financial literacy to your children?

If not, here’s some suggestions on how you can introduce personal finance to your children this month..

Saving together - A family piggy bank is a great way to introduce saving. With the whole family chipping in, your money can add up pretty fast! Set a family savings goal and save as family until you reach that goal.

Decision making - When teaching personal finance, allow your child's voice to be heard, and give them the freedom to make choices, wether you believe their financial choices are good or bad. Allowing your child to mishandle money while learning is crucial. It’s better for your child to learn the effects of poor financial choices while learning rather than out in the real world with very real consequences.

Keep learning fun - Hold your child's attention by keeping money lessons relevant, age-appropriate and a bit playful. Using visual aids such as books, games, videos, and even music can help you introduce personal finance to your children in a way that they can relate to and understand.


Photo Credit: Saving With A Goal Program

If you've already introduced personal finance to your children, share a few tips below.

Happy Saving!!!

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