Curriculum Lays out Financial Literacy Worksheets for Kids
Teaching kids to be financially responsible is a huge part of getting them ready to face the real world. But what are the best ways to help kids learn about money? With all the testing requirements and budget cuts in public schools, it’s unlikely that children will get money training there. The National Financial Educators Council has developed curriculum packages for youth at all age levels, including a set of financial literacy worksheets for kids.
One example of materials available through the NFEC can be found in the Family Money Talks: Ten Talks you Must Have with your Children workbook. To really learn financial literacy, children need practical guidance. Parents can make a difference and help kids gain skills that will secure their future lives. And research has proven that children are ready to learn about money even as young as preschool.
One of the financial literacy lesson plans for kids in Family Money Talks has to do with learning the importance of good credit. In this activity parents start by asking their child if they can borrow something he or she owns, like a toy. Then the parent says, “I’ve decided to keep it.” The parent continues to do this until the child refuses to lend any more toys; the parent asks why.
This is an effective activity to teach kids about credit. Teaching kids about money works best when the activities relate to things they find important. Parents are encouraged to walk through the process with the child: you buy something with a credit card, and you’re required to pay back the cost. If you don’t pay it back, the credit card company will close the account and refuse to extend any more credit.
Giving kids money management skills like building good credit can save them thousands of dollars over their lives.