Continue reading »]]> The NFEC releases “10 Tips to Teaching Children About Money” to help parents, educators and volunteers improve the financial capabilities of today’s youth. A companion guide – Family Money Talks – is also offered complimentary through the Financial EduNation campaign. The goal of both resources is to provide step-by-step guidance to those that desire to teach kids about money.

Most people agree that they wished they had received a financial education when they were younger. Picking up financial literacy skill sets at a young age may of saved many people from financial stress that is directly associated with monetary illiteracy. Today’s youth rely on their parents and concerned citizens to share personal finance knowledge that can help them avoid the common pitfalls that plague many people worldwide.

The 10 Tips to Teaching Children about Money will provide those that read the article clear guidance on how to effectively share money management lessons with kids, teens and young adults. Not surprisingly, this also helps adults learn areas of personal finance they may not be familiar with currently. The NFEC commends your efforts to help our youth learn about money so they may avoid the disastrous consequences that can accompany financial illiteracy.

Continue reading »]]> ‘The Talk’ Financial Literacy PSA was developed to get parents to talk to their kids about money and to raise awareness about the financial literacy movement. Within a few hours of the website going live, the NFEC received some positive compliments and also some concerns. We at the NFEC appreciate everyone’s opinion and set up this blog so you can share your thoughts with us.

We greatly appreciate the concern expressed by several over the safty of the children in the “Jaywalk” and “Train” PSA pictures. Rest assured they were completely safe. The girl crossing the street actually had holes in her blindfold that were filled in in post editing. Her mom was walking in front of her and grandmother behind her. On the Train PSA, the train was superimposed in post-editing, we had spotters watching the tracks and we knew the train schedule.

Overall, we have had a great response from the campaign. From the initial response we are excited it may help us accomplish our objectives of raising awareness and having parents talk to thier kids about money.

We welcome your comments, suggestions, concerns and ideas below.

Continue reading »]]> The NFECs’ financial literacy program for children (PK – 2nd Grade) is launching April 30th. Now through April 30th receive a 50% discount by entering the coupon code shown on the personal finance for kids webpage.

The financial education program combines project based learning, activities, songs, rebus stories and interactive lessons that lays a foundation for building positive money management habits. Over 12 hours of coursework teaches kids about money in a fun, engaging format. Learn more about the curriculum for kids by reading the NFECs’ whitepaper that examines the feasibility of teaching financial literacy to children, based on their cognitive ability to grasp key financial concepts.

Continue reading »]]> There has been a recent surge in organizations seeking finance games to teach people of all ages about money. This has led the NFEC to introduce several financial literacy games that is aimed at improving the financial capabilities of those that play the games.

There are many benefits to ‘game style learning’. Improved retention and engagement among participants are just the tip of the iceberg. Designers and inventors often face difficult tasks in creating programs that meet the highest educational standards while also being fun. The Real Money Experience, Camp Millionaire, NestEgg and the Money Game have bridged those gaps and the feedback from those who participated have been excellent.

The Real Money Experience puts youth the financial situations they will face when they graduate. Housing, auto, credit, debt savings are all covered giving participants a wide base of information to build on. The NestEgg game personal finance game gives ohigh-level information on investments and money management habits that will help players in real life.

These finance games ensue the performance of your bank account as people learn and take action upon the lessons learned. Always run the financial adventure for maximum gain. Last but not least, is the National Financial Educators Councils’ hands on games for kids. Mostly, it is played by the younger generation of people. Here, a way of earning money is taught to them in a way of formal or self employment. Truly speaking, the are the better ways to learn than the hard way.

Continue reading »]]> It is quite difficult for a person to succeed in life if he does not know how to manage available resources. Most times, people complain about difficulties in their financial life because they are not properly educated on how to manage their funds. The best way to avoid such problems is to be well equipped before adulthood. A strategic way of doing this is by using a financial literacy game.

Monetary games have a lot of advantages. Apart from effectively teaching financial literacy, they make learning very easy. As a parent, you may have the challenge of letting your child understand banking issues but these games help you do this task with little difficulty. Some of the qualities of good games on this subject include the presence of interaction during play and the availability of practical examples. These qualities are important because they help the users understand the lesson easily and increase their retentive memory.

One of the things you may want to consider before buying one is the availability of video tutorial. It is also important to check the content of the tutorial or lesson plans before getting them for your kids. A good one should be able to let the user understand how their incomes can be affected by their education, career, expenses, and priorities in life.

The RMX financial literacy game is a very good type to buy. It takes less than four hours to complete the games so users cannot feel bored during the learning process. Apart from having the qualities above, it is helpful in learning about credit, banking, insurance, and transportation. The game is very easy to use and it is suitable for high school and college students. It has an instructor’s guide, fund-raising resources and surveys to analyze the students’ understanding.

Continue reading »]]> The National Financial Educators Council is always looking for talented people that have a passion for financial education. The NFECs’ Financial Literacy Job Board will launch in late 2012; however, we invite you to submit your application now by emailing your curriculum vitae or resume to Traci (at.) FinancialEducatorsCouncil.org

The NFEC offer’s various jobs in the financial literacy space. Our focus is on filling five key areas over the next 8 months. These positions include: education, marketing/PR, sales, creative and C-level executive positions. Please note, education based financial literacy jobs are limited to curriculum designers. We receive a lot of requests for paid speaking opportunities; however, those are reserved for NFEC Certified Financial Education Instructors.

We appreciate your interest in working with the NFEC and look forwarded to growing with like-minded individuals.

Continue reading »]]> Teaching children about money is becoming increasingly important. Many countries are faced with economical downfall and children will have to learn how to work with money in order to succeed in future. Our children will manage the economy in years to come and that is why financial literacy worksheets for kids should be used in conjunction with a comprehensive financial literacy for students program that starts from a young age.

Teachers, mothers and financial institutions have put together great activities to teach children more about money. It has images and descriptions of money in different denominations and can be used in different ways. Simply coloring in the activity sheets is a great way to start teaching young children about money.

In the earlier grades, activities can be incorporated whereby kids can color in images of the different coins and notes. The end result can be cut out and stuck to cardboard. Using this play money to play shop is a great way for them to learn to count money.
Children learn through playing. Playing shop is an age old activity which teaches the basic skills of using money and to give the right amount of change. When they reach middle-school, children will want to explore money in a variety of different ways.

From about eight years of age and up, children often start to ask for pocket money. This is the right time to start teaching them how to use their money wisely. Using financial literacy lesson plans for kids is a great way to start teaching them to save from a young age is a great way to teach responsibility and teaching them to give away 10% to a good cause will teach compassion.

In high school children will start to learn a lot more about economics before they enter the real world; however it is essential to provide financial literacy for kids of a younger age to get them ready. Preparing them for it by using financial literacy worksheets for kids is a great idea. It can be used at home or at school from a young age.

Continue reading »]]> Various institutions have been formed worldwide due to the dire need of knowledge in our society by everyone including young ones. These institutions aim at providing high standards of financial literacy programs for kids with learning facilities and opportunity for the youths and their parents about finance, core values in life and skills they need to make a change and be successful in life. Learning materials are dispatched to both public and private schools and also incorporate after-school sessions to make an effective outreach to the relevant target groups.

A wide range of products and services are availed in such centers and are mainly focused on providing finance related education. There currently is a broad range of material available for those seeking to provide financial literacy for student in elementary school, high school and through adult education presentations. Unfortunately, most are poorly marketed and have public relation campaigns that do little to aid the process of learning.

The majority of children are unlucky to have the necessary education related to finance and hence most of then languish due to illiteracy in money management. These sessions are tailored towards wiping out these situations and creating consciousness in money handling between the youths and children. The instructions on this subject improve the level of knowledge of the children with a positive impact realization.

Reckless and unplanned for expenditures which are associated with children and adults who lack knowledge on how to manage their finances often leave them without money hence ending up participating in several vices in the society. These trainings are meant to make a change in spending and saving habits among students.

In the modern days internet has been incorporated into the learning process hence making it easy for both the geographically and financially disadvantaged children to undertake such courses through an innovative and flexible online environment. From basic financial literacy worksheets for kids, to rich content are delivered to the target groups through these sites can rapidly improving finance related skills.

Ones who are interested in undertaking the financial literacy programs for kids courses must register in the relevant websites or schools with the help of their parents to be able to have the training. This is a life-changing process which should be embraced by every parent to stamp out illiteracy among their children.

Continue reading »]]> Teaching a kid financial education is an ongoing process. It’s best to start young by assigning chores, and paying for a job well done with an allowance. By starting early, a child will be able to learn the value of labor while instilling a lesson that will use for life. A healthy work ethic will benefit children for the rest of their lives.

Learning at a young age that a hard day’s work brings a monetary reward is a powerful lesson in the ways of the modern world. A work ethic based on good habits which include punctuation, neatness, and perseverance is an example that can be instilled early in life. This must be taught at a young age, later on life it is much harder to create good habits.

Providing a financial education for kids can be accomplished during daily tasks. When delegating work to your kids it’s important to mix and match tasks. Keep them on their toes by assigning different and random tasks. Some jobs should be long-term projects and others can be quick tasks. By delegating perpetual work, children will learn how to focus and persistence. While the short term jobs can be done quickly, the continuous tasks will require the children to self start to adhere to a tight schedule.

For example, if you ask them to clean out the garage, and give them six weeks to complete the job, this will teach them how to manage projects. By dividing one very large job into smaller, and more manageable tasks they will eventually complete the task. These divide and conquer techniques will instill pride and a sense of accomplishment. Combined with a financial literacy program for kids, this training can have lasting benefits.

Don’t let the child procrastinate until the last minute and have them try to do it all at once. This will defeat the purpose of assigning a long term goal. By dividing large tasks into smaller ones, what once seemed insurmountable becomes doable and this will lead them towards a lifetime success. By assigning mundane chores a monetary value, children will be educated in financial matters. If your kid financial education is sound, this will lead to a lifetime of honest work.

Continue reading »]]> Do not underestimate the importance financial literacy kids. Children should be taught how to handle money from the early on. To many young people are in crises situations with debt simply because they never learned basic lessons in money management.

Children should understand how the world of money works from the moment they begin to get an allowance. In the real world no one gives us money for free. We have to earn it and the children should learn this important principle as soon as possible.

Unfortunately, we have got into a habit of spoiling our children. They are rarely required to do chores in the home on any consistent basis. If this is the case in your home you should change it straight away. There are some jobs that need doing regularly that can be done by a child such as taking out the garbage or unloading the dishwasher.

Think about how much you would have to pay someone to come to your house and unload the dishwasher on a daily basis. You can then apply the same or similar amount to your child as their allowance. It must be directly related to the chore. If they do not do it they do not get paid except for holidays and some unintentional sick leave.

Once children are earning their allowance they must also learn other important lessons such as how to save their money and how to save it. A child of any age can have a bank account so you can help yours to get one set up. Through providing financial literacy lessons for students, your kids will learn to manage their account and appreciate the value of seeing savings accrue.

However, as in the real world, some things have to be paid for. It is not to say that you have to offload your parental responsibilities to the child but at the same time the child must understand that he will have to spend some of his earnings on the things he wants. Good financial literacy kids will ensure responsible adults in future. So be sure to teach your kids financial education lessons that will support them as they mature.