Kids Financial Literacy: Comprehensive Financial Education Program for Kids – Resources for Parents, Educators, Third-party Providers

Financial habits form young – when kids are between 7 to 9 years old.[1, 2] Youth who are not taught how to manage, value, and work for money lack the skills they need to be self-sufficient. This situation has impact not only on the child’s future finances, but also self-esteem, relationships, and overall enjoyment of life when he or she matures into adulthood.

Parents, schools, and third-party providers represent the front line to ensure that our kids receive the best financial education – education that drives students to use higher-level thinking skills and focuses on helping them develop systems and behaviors that build a foundation for managing their money well.

For those individuals who want to teach kids financial literacy, we have the solution.

We Balance Fun & Interactive Activities with Comprehensive & Educational-grade Materials

Our kids’ financial literacy resources include over 90 lessons that are flexible and can be delivered by educators, parents, or third-party providers. The lessons include:

We Set the Standards for Kids’ Financial Literacy Education

The NFEC sets industry standards for youth financial education that are referenced by organizations around the globe. Our objective is to share benchmarks with the personal finance industry and the public that help improve people’s financial capabilities.

To develop these industry standards, the NFEC collaborated with child development experts, educators, personal finance professionals, psychologists, behavioral therapists, and other experts to ensure that the educational standards were based in sound research. The resulting documents benefit learners, educators, and other stakeholders by setting parameters for evaluating the quality of financial education programs and the qualifications of their instructors.

Discover the Learning Outcomes of Our Materials

Kids Financial Literacy Standards PK – 8th Grade

Topics & Levels

Using Piaget’s Theory of Cognitive Development, each grade or age level reflects the best strategies at varying developmental stages. Review the Topic Overview for summaries of each topic included within the curriculum.

  • Age Groups: PK through 8th Grade
  • Educational Lessons for Each Individual Grade Level
  • 10 Core Personal Finance Topics Covered

Financial Literacy for Kids Curriculum Overview

Guide – Topic Overview

Age Breakdown of Financial Literacy Resources Tailored to Cognitive Levels

The content and standards were based on children’s cognitive stages. We use Piaget’s Theory of Cognitive Development, which lays out three phases in childhood learning:

Pre-operational
(Ages 2 to 7)

Children begin using and understanding language, and experience the world mainly from a selfish point of view. They only connect with one feature of a situation or object at a time. They benefit from lessons that encourage them to move around, handle things, and classify items into groups.

Concrete Operational
(Ages 7 to 11)

Children begin to develop logical, concrete thinking patterns. They can start understanding mass and volume and can gain symbolic understanding of things, for example, the amount of money and purchasing power represented by a certain piece of currency.

Formal Operational
(Ages 11+)

After age 11, youth begin thinking about things on an abstract level, which means they can learn through group projects, games, case study illustrations, and brainstorming.

Materials Include

Instructor Guide

Get clearly-defined steps on how to deliver the activities, games, presentations, and more. Feel confident as you share lessons with kids and get tips for adding learning extensions that make the process fun.

Student Guide

Hand out these guides/workbooks which coincide with all the lessons you teach. Age-appropriate design and easy navigation gives students visual learning cues that can enhance their learning.

Assessments

Measure the progress of the training with assessments that align with your students’ needs and desired outcomes. For younger students, these assessments are verbal and interactive. The testing transitions into more traditional modes for older students.

Family Chore Project

This project provides a way for parents to have their children practice what the real financial world is like in a safe environment. Kids pick up core financial lessons: how to earn, save, and spend. For educators and third-party providers – use the project to encourage parents to participate in their children’s financial education.

Adult Influencers

Invest in Future Generations: Purchase Kids’ Financial Literacy Package

By now you understand the need to teach kids about money and how our resources can support your efforts to provide knowledge and shape the behaviors kids need to work toward secure futures.

Looking for High School Materials? Visit our high school package page.

Organizations & Individuals Serving the Community: Kids’ Financial Literacy Resources

$297
  • $97 Annually Starting Year 2
  • 200 Participant Licenses
  • Instructors Guide
  • Student Guide
  • Family Chore Activities
  • PK – 2nd Grade
  • 3rd – 5th Grade
  • 6th – 8th Grade

Organizations & Individuals Serving the Community: Turnkey Financial Education Package

$795
  • $197 Annually Starting Year 2
  • 1 Instructor Training & CFEI Certification
  • 200 Participant Licenses
  • Instructors Guide
  • Student Guide
  • Family Chore Activities
  • Basic Learner Experience Resources
  • Full Measurement & Reporting Resources
  • Basic Business & Funding Resources
  • PK – 2nd Grade
  • 3rd – 5th Grade
  • 6th – 8th Grade

Guarantee, Terms, & Renewal

Family Package Terms: A 30-day No Questions Asked Guarantee. Receive 5 licenses to share and use the material for your family only – up to 5 people total. This information cannot be sold, shared, or delivered to anyone outside your family unit. Violators are charged $75 for each unauthorized license. You agree to the terms and conditions. Annual dues must be paid to maintain access to the resources.

Organizations & Individuals Teaching the Community Terms: A 30-day No Questions Asked Guarantee. You agree to the terms of the Education Resources and, upon purchase, are bound by the agreement. Read the complete terms and conditions. Starting year 2 (365 days after order), there is an annual investment due for renewal based on the package you select. Annual dues must be paid to maintain access to the resources and keep your Certification in good standing.

Turnkey Package Terms: A 30-day No Questions Asked Guarantee; Plus a 1-Year 100% Guarantee. You agree to the terms of the turnkey financial education program and, upon purchase, are bound by the agreement. Read the complete terms and conditions. Additional training and testing are required to maintain CFEI status. Starting year 2 (365 days after order), there is an annual investment due for renewal based on the package you select. Annual dues must be paid to maintain access to the resources and keep your Certification in good standing. Read Full 1-Year Guarantee terms.

The NFEC provides comprehensive financial literacy resources for those seeking to improve the financial capability of kids from PK through Junior High. For those seeking material for high school or college age youth, visit the financial literacy for student’s page.

The coursework has been designed by a team of educators, financial education experts and financial professionals. The NFEC has been successful in creating personal finance programs that meets educational standards while providing practical instruction to help our children prepare for the financial real world.

Providing financial literacy for kids before they move out on their own is essential to ensure their security and well being. Most major studies on the topic concur with the National Financial Educators Council’s research; the average children fail even the most basic financial literacy tests. This documented lack of knowledge on personal financial matters among our youth can plaque them well into the future.

Many parents and educators are surprised to discover that the majority of children today never receive money management coursework during any level of schooling, including college. Most college graduates have spent 16 years of schooling that will help them earn more money, yet no time is spent teaching them fundamental personal finance lessons. Children’s financial education at home is no better. Reports show that most parents don’t talk to their kids about money because they don’t feel confident sharing personal finance lessons with them. Consequently, the vast majority of kids enter the real world without ever learning about money in school or at home.

To help today’s youth avoid a future where they are worried about their financial security, it is essential that kids are taught about money. Professional money management programs for kids help them build essential lessons that can have lasting monetary and personal benefits. Below are tips that will help you start to share financial literacy lessons with children.

Once kids are old enough to count, typically around 2 year old, parents should start to teach kids about money. The NFEC’s report, “Financial Literacy Programs for Kids” provides educators and parent’s insight on how to begin teaching children about personal financial matters. This guide provides specific details on how to share monetary lessons with young children up to around age 7.

Ages 8 to 14 are critical times in the development of children’s financial behavior. During these years, they form habits on saving and spending that can last well into the future. It is essential that parents are actively involved in helping their children learn about financial matters. One of the best ways is through proper allowance management. Paying children for work they do and having them spend their own money when they want to make purchases. Each purchase and allowance payday can be a great time to teach kids about money.

By the time children grow up to reach high school or college-age it becomes critical they are taught about money. During these years, a professional personal finance course is necessary to ensure they have developed the skills needed to successfully navigate the financial realities they will face when they are on their own.

Providing financial literacy for kids is of critical importance. The lessons learned can benefit them in perpetuity and greatly improve many aspects of their life.

Financial Literacy for Kids Prepares Them for College

The time has arrived—your child is getting ready to graduate from high school and soon your nest will be empty. As a parent, you have many responsibilities to help prepare your young student for the challenges of college. Perhaps the biggest one is to teach them how to spend (or how not to spend) their money. A solid foundation of financial literacy for kids appropriately begins at home.

Few college students are completely independent. That means their support can place a heavy burden on their parents, a burden which can last a long time. Recent surveys indicate that as many as 70% of college graduates are likely to move back home with their parents after graduation. But providing a good financial education for kids long before they head off to university can help relieve some of that burden. Young people can learn the repercussions of their financial decisions and begin developing positive money habits from an early age.

An unfortunate truth today is that college preparation courses presented in high school do not teach kids about money. College-bound youth need to learn how to resist the financial pressures of college life, allocate resources responsibly, and spend their limited funds in a mature, healthy manner. In the absence of adequate personal finance training in school, parents need to step in. One of the first things a parent can do is model good money habits themselves. Kids gain most of their money knowledge from you—so if you show them what mature spending looks like, they’re likely to pick up that habit.

To help you build financial literacy in your student and prepare him or her for the real world, some programs are currently available. Responsible parents can enroll their children in financial literacy programs—often called money camps—which impart positive money management skills. Many such programs also make resources available complimentary on their websites. If the time for your child to go off to college is near, it’s time for you to step up and make sure he or she is prepared.

Financial Literacy for Kids – Talk for Families

Families all around the country are beginning to recognize the vital importance of teaching children how to effectively manage money. Indeed, a financial responsibility movement is sweeping the nation as people strive to cope with the recent economic slowdown. Yet in the realm of financial literacy kids may be at a disadvantage, especially if their parents did not receive personal finance training when they were young. Too many people in the U.S. still live paycheck to paycheck—a risky financial situation regardless of income level.

Giving kids financial education is one of the best ways to prepare them for real-world challenges. The National Financial Educators Council (NFEC) has designed a set of ten essential money talks parents should have with their children. The first of these talks focuses on goal-setting. Setting realistic goals and making a plan to achieve them builds a viable framework for effective money handling.

The goal-setting talk sets the stage for teaching financial literacy to kids. The NFEC suggests that parents first share some of the goals they had when they were young, both the serious ones and the ones that seem silly now. Then they suggest asking the child to share some of his or her goals. Does she want to be a dancer? Does he want to have children of his own someday? Parents should encourage their kids to have dreams, and let them dream big.

The next step in this talk is to set a family financial goal. For example, the goal might be to reduce a utility bill by half. Plan to set aside the money you save for a celebration, like going out for pizza or a weekend at the beach.

This family money talk is one example of the comprehensive financial literacy lesson plans for kids that the NFEC has developed. This social enterprise organization has financial literacy programs for all ages and walks of life. Read the rest of the family money talks and learn more by contacting them.

The NFEC provides comprehensive financial literacy resources for those seeking to improve the financial capability of kids from PK through Junior High. For those seeking material for high school or college age youth, visit the financial literacy for student’s page.

Everyone has felt the pinch of the Great Recession that began in 2008 and out of which our country is finally pulling, ever so slowly. And families might feel that pinch even tighter during the holiday season or at the time of a child’s birthday. While you want to be generous, it’s still important to live within your means. Rather than overspend or go into debt, the National Financial Educators Council (NFEC) has a better idea: give kids financial literacy.

What they mean by financial literacy for children is simply some practical lessons about how to manage money effectively. Kids learn best by example. If you model proper money habits by spending your money responsibly and with maturity, your children will observe your behavior and learn to budget wisely themselves.

The NFEC recommends setting limits on holiday spending. Choose a spending cap that represents no more than 2%-3% of your net income (not your gross income, but your take-home pay). So if your annual net income is $30,000, that means your upper limit to spend on holiday gifts should be no larger than $900. If your net income is $20,000, your spending limit should be $600 or less. And so on.

It’s a good idea to communicate your decision to your whole family, including extended family and anyone else for whom you’re planning to buy gifts. This communication provides an excellent opportunity to teach kids about money. Some families decide among themselves to set an individual gift limit. For example, you might decide that no single gift will cost more than $50. You can set the limit wherever is most comfortable within your budget.

There’s no shame in spending responsibly and living within your means. If you communicate your decision to your friends and family, there’s a good chance they’ll be relieved—after all, they’ve been feeling the economic pinch too. And you’ll take advantage of a great chance to teach your kids money management.

The NFEC has a full range of kids financial literacy products, services, and programs, including a complete financial literacy curriculum for kids. Find out more at their website, www.FinancialEducatorsCouncil.org.

The Benefits of Financial Literacy for Kids

The advantages of teaching young people some money management skills are many. There are also numerous benefits involved when institutions have considered making them a part of the financial literacy curriculum. Elementary schools as well should not be overlooked. Parents who are against this process are definitely in the wrong. Financial literacy for kids is an important subject that should be explored fully.

It does not however matter whether institutions are teaching the children. Parents should take the initiative and take note of the importance of the subject. Invest in quality financial literacy curriculum and share it with your children. The young ones must get the knowledge from you directly. One of the biggest advantages that you will get at some point is a better life for them. An excellent future for your grown family is what you want of course.

It also means that children will be able to get the knowledge they require in saving. Saving money for a rainy day is an important thing to consider. There is no better lesson to have in mind than this one. You will definitely know the importance of providing money management programs to kids when you understand the consequences of financial illiteracy. You will realize that there is an immense number of individuals who are in debt. Gaining the skills early in age will allow them not to be in such situations in future.

It is important that you have them learn the important lessons with something in their hand. This is a very important thing to consider. You have to make sure that you give them some allowance. The money you give them should be carefully used and they should know about your intentions. This is the only way you will be sure that they are learning. Check on them after sometime and find who has saved the most. You can also check around and see what they have purchased with the money. Take that chance and further your coaching. Financial literacy for kids is an important subject, with a doubt.

Understanding The Benefits Of Financial Literacy for Kids

Do not underestimate the importance financial literacy for 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 literacy education lessons that will support them as they mature.

The Importance Of Financial Literacy For Kids

Financial literacy for kids is about ensuring that your child is educated on the best way to manage finances. This is a way of securing their future. This is because they will be able to learn how to manage money in all ways possible. This helps them spend wisely at all times.

You can help your kid learn more about making money, saving it and also managing it via interactive games. These games will definitely increase their knowledge on how to handle cash. These games can be found on the internet. They make lessons on money management to children easy and also fun to learn.

Many of these educational WebPages provide basic personal finance for kids material. It is suggested that online education simply will help guide your child; however, the real financial education should be done with a qualified instructor. Some of the material you can find online are basic aspects of money management for kids which can include how to save and spend cash. They also touch on how children should bank their cash.

There are also videos that offers live lesson to children on how money work and how to handle it dependably. These live lessons are offered on stages. The first level deals with importance of money and the right amount of allowance that should be given to the young ones. These lessons can be downloaded.

Recently there have been new games which have been developed to show kids how to deposit and also fill out banks slips. These games also have a section on how to use an automated teller machine. They also have a section of parents to explain some of these activities to their children.

Financial literacy for kids is important as it prepares the toddler for a brighter financial prospect. It is the duty of every parent to make sure that their children have adequate knowledge on cash matters. Good monetary literacy will help your child to have a good understanding and awareness of cash

The NFEC provides comprehensive financial literacy resources for those seeking to improve the financial capability of kids from PK through Junior High. For those seeking material for high school or college age youth, visit the financial literacy for student’s page.

Financial Literacy for Kids: Resources for Parents & Educators

Anyone with an interest in understanding best practices to present financial literacy for kids has landed in the right place. The following resources and tips can encourage positive and successful efforts to teach children about handling money.

The NFEC’s latest financial literacy for kids programs will be available the first quarter of 2021.  The program was designed to deliver the key foundation knowledge that is necessary to develop good money management habits.  In the meantime, enjoy the complimentary kids financial education resources and tips on this page.

Newly updated kids education resources coming Q2, 2021!

Understand the Challenges Involved in Teaching Financial Literacy for Kids

To teach financial literacy for kids effectively, you first need to understand the difficulties they face and how those can be addressed. Kids pick up information starting very young, and it’s crucial to turn pivotal moments into key opportunities for molding positive financial behaviors.

Each child encounters a unique financial situation at home. The family’s socio-economic placement will have central impact on the challenges and opportunities affecting the child’s future finances. But although the birth lottery does influence a kid’s future, it’s still possible for any child to reach a higher level of personal finance knowledge and security than his or her parents did. It may just require a little extra effort.

From the moment of birth, a child starts developing behavioral habits. Think of all the messages kids receive related to money: parental modeling, advertisements, peer and societal pressures to spend. Building financial literacy for kids involves taking proactive steps to mold positive behaviors around money handling that can counteract marketing and social influences.

A child’s sentiments about money also play into his or her financial future. How do their parents feel about money? What emotions do their peers express about financial topics? Everyone develops a relationship with money, and as children mature, their financial sentiment solidifies. Those who teach money management for kids of any age must take care to help them to form positive money relationships and build their confidence.

Financial literacy for kids also demands high-quality education, which most children are unlikely to receive either at home or at school. Just 23% of youth in a recent survey responded that they talk to their parents frequently about money.

Composition of Financial Literacy for Kids Methods

Financial Literacy for Kids Tailored to Cognitive Level

It’s never too early to start teaching children money concepts. However, the content and delivery of efforts to develop financial literacy for kids must be based on children’s cognitive stage. For example, Piaget’s Theory of Cognitive Development lays out three phases in childhood learning based on their age ranges: pre-operational (2-7), concrete operational (>7-11), and formal operational (>11).

At ages 2 through 7, children begin using and understanding language, and experience the world mainly from a selfish point of view. They only connect with one feature of a situation or object at a time. They benefit from lessons that encourage them to move around, handle things, and classify items into groups.

Between 7 and 11, children begin to develop logical, concrete thinking patterns. They can start understanding mass and volume and can gain symbolic understanding of things, for example, the amount of money and purchasing power represented by a certain piece of currency.

After age 11, youth begin thinking about things on an abstract level, which means they can learn through group projects, games, case study illustrations, and brainstorming.

Important Financial Literacy for Kids Skill Set

If you are a parent you will do well to prioritize kids financial literacy. It is important for your children to learn the lessons of dealing with money from an early age. There are so many young people these days that have accrued unmanageable debt before they complete college. The reason is because they were not taught the basics of budgeting by their parents.

You will be doing your child a favour if you ground them with a thorough understanding of the way money works and have them participate in financial literacy for kids programs. Children learn best through hands on experience. As such, you should apply real world experiences to their repertoire. For example children should learn to earn the money that they receive.

There are many reasons why we do not give our children the amount of chores we ourselves or our parents would have expected as children. Maybe it is because we are conscious of not being seen to oppress our children or because we want them to have a better childhood than we had. Unfortunately, we realize too late that the childhood we had has been better for us than the one we are giving our children will be for them.

The result of modern child rearing practices of handing kids money, has spoiled children. Spoiled children become reckless adults. Every household has daily chores and it is proper that children and young people should be involved in their daily maintenance. Pocket money can be tied to the work that has to be done in the home so that youngsters can learn the lesson of working equals financial enrichment.

Learning to earn is one thing but learning to spend responsibly or save are other important lesson that many youngsters of today have failed to grasp. This is because we allow them to spend their cash on whatsoever they please but still obliged to provide them with modern luxuries in addition. Parents buy the cell phones, sneakers, and game stations for their children while the children spend their own money on partying and other frivolous activities. This combined with the fact most never attend any financial literacy workshops or other personal finance training is a dangerous combination.

Kids financial literacy is paramount such as that which can be obtained from the NFEC school programs. You should give it the same level of priority in their education as you would mathematics, grammar or the arts. Teaching financial literacy to kids is a core subject that deserves the attention other subjects receive.

Teach Kids about Money (Tips 1 through 5)

Don’t you wish you’d gotten a practical financial education when you were young? Now you have a chance to make a difference! Teach kids about money and share the personal financial knowledge that you wish you’d received when you were younger.

The vast majority of schools and colleges do not teach kids about money. College students spend 12 years (16 or more if they graduate college) learning skills to earn more money. Yet colleges don’t teach young people how to save, grow their savings, and set financial goals to live their desired lifestyle. We give them a professional education on so many other subjects; shouldn’t we give them a professional education on skills they’ll use every day of their lives?

Youth report that their leading source of personal finance information is parents. According to several commonly-cited studies, more than 60% of children acknowledge relying on their parents for financial knowledge. Unfortunately, most parents face their own financial concerns and have not learned to be comfortable handling their own finances. Many report lacking confidence to teach their kids about money management.

The following ten tips will help:

Tip 1: The Importance of Money

Money itself—that silver coin or piece of paper—is not an intrinsic motivator. It’s what money allows one to do that motivates children to pick up money management skills. Discover your children’s hopes, passions, and dreams. How do they envision their ideal futures? Help kids see that achieving their aspirations is tied to a healthy understanding of money basics. Learning to earn, manage, save, and grow money makes people’s lives easier and helps them reach their goals sooner.

Tip 2: Savings

The biggest financial problem, facing more 70% of Americans today, is lack of savings. Most people will never be able to retire. To help our youth avoid that problem, get them into the habit of saving money young. Help them develop a savings plan as early as possible. Even with a limited allowance income, children can still set aside a portion of any money they receive. Help them set aside a portion of birthday and holiday money, and all other income. By the time they enter their teenage years and start earning their own money, saving will be second nature.

Tip 3: Skill Set Foundation

Developing a good foundation helps our youth gain a financial head start. Help them build key skill sets like time and risk management, ethics, organization, empathy, marketing, belief in living one’s passions, and the ability to communicate with and relate to others effectively. Teaching kids about money is more than just teaching personal finance topics. It’s about helping them identify their own strengths and build skill sets to support those strengths.


Tip 4: Addressing Negative Associations with Money

The majority of us have gone through challenging financial situations at some point in our lives. The fact that many of us never received formal financial education is a likely contributing factor. But even if you’ve experienced financial challenges, you want to avoid passing along a negative money mind-set to children. Frame your talks about money in the positive while still addressing the challenges you went through. And if you’re experiencing trying financial times now, use that experience as leverage to teach your kids about money. Leverage learning opportunities like the Cash for Candy campaign to shed light on any negative financial associations.

Tip 5: Financial Foundation

Guide your children or students to open checking and savings accounts before they move away from home. Managing their own accounts will enhance their sense of responsibility and get them used to handling their accounts properly. Caution: please be sure to supervise their accounts so they avoid overdraws and keep their banking experience positive.


Teach Children about Money (Tips 6 through 10)

If you’re like most people, you wish you had received a professional-level financial education when you were younger. Money management skills might have saved you from past (or current) financial worry. Although technology won’t allow us to travel back in time, you can teach children about money. Our youth are counting on you to share money management knowledge that can help them avoid the common financial pitfalls that so many people find themselves in today.

Many parents and teachers feel uncomfortable teaching children about money. NFEC has conducted surveys with parents and educators, indicating that the top reasons for not teaching children about money are lack of confidence about the subject matter, feeling uncomfortable talking to kids about money, lack of guidance, and not knowing how to start a conversation. For these reasons many parents and teachers never teach children about money—kids are left to figure out the world of personal finances on their own, often with disastrous consequences.

This article will help you feel comfortable talking to children about money. Follow the personal finance for kids tips and pick up your complimentary gift, “Family Money Talks.”

Tip 6: Compounding Interest

Want to give a kid hope of achieving their lifestyle and financial goals? Spend 10 minutes online playing around with a compounding interest calculator. The discovery that saving just $100 a month can make them millionaires gets youth excited. This is a powerful activity, especially when combined with the first tip – relating money to lifestyle goals.

Tip 7: Credit

Two of the most common financial pitfalls for college students are debt and credit issues. The two topics are inter-related, and essential to cover when teaching kids about money. Building good credit can save children hundreds of thousands of dollars over their lifetimes. Take time now to explain how to build good credit. The NFEC encourages all youth to take a professional-level course on credit in addition to the other essential personal finance topics.

Tip 8: Lemmings vs. Free Thinkers

People are influenced by marketing. Whether messages are delivered by advertisers or politicians, most people lack capability to evaluate the truth behind persuasive messages. When you go shopping or watch TV with your children, point out the advertisements and critique them together. What are they trying to sell? Who are they targeting? What actions are they trying to get you to take? This analysis can help children evaluate advertisements logically instead of emotionally. You will begin to raise free thinkers—not lemmings.


Tip 9: Investing

Encourage children early to learn about investing. Children or students might spend 30 minutes a week learning about the stock market, real estate, and entrepreneurship. Take your children with you the next time you meet with your financial advisor, insurance agent, or tax preparer. Let them learn in ways they enjoy: YouTube, magazines, TV programs, newspapers, and talking with experts are all viable ways to learn about money.

Tip 10: Encourage Entrepreneurship

Encourage your child to start a business, something that doesn’t require a significant financial investment. Their first businesses will probably be skill builders rather than multi-million-dollar ideas; but starting a business forms a valuable building block for future endeavors. What’s more, kids will pick up personal finance skills and knowledge along the way.

Teaching children about money gives them a head start toward a successful future. Get started now, and your kids will thank you for a lifetime.

Participate in the Cash for Candy Halloween financial education activity.