cool, interactive tool for teaching kids financial literacy (2024)

Oh, friends.

How I wish I were better about teaching my kids to budget, to stay on top of finances, and to save money.

It’s not my thing.

But it should be.

It should be everyone’s thing. A basic necessity.

As I reviewed the cool, interactive tools for teaching kids about financial literacy fromPwC Charitable Foundation, this became crystal clear to me.

And because April is also Financial Literacy Month–yes, it really is!— what better time to share this with you than now?

cool, interactive tool for teaching kids financial literacy (1)

Except for our Spend, Save, and Give Jars from way back when, we have not done much in terms of teaching our kids how to save or the importance of being money smart–financially literate.

Sure, we gave our kids ways to earn money with Gem Jars as they got older, but we never really taught them how to budget. How to save. How to plan.

Or why it’s necessary.

I learned a ton from these resources on Earn Your Future Digital Lab, and I’m amazed that they’re available for anyone–any parent or teacher to use.

Here’s the skinny. . .

Cool, Interactive Tool for Teaching Kids Financial Literacy:

This whole thing may sound pretty crazy and complicated, but it’s not. The Earn Your Future Digital Lab makes things pretty easy and straightforward once you register as a parent or teacher on the site.

When you get to the site, you’ll see a screen like this:

Register.

Register, my friend, to get the fun rolling.

cool, interactive tool for teaching kids financial literacy (2)

cool, interactive tool for teaching kids financial literacy (3)

cool, interactive tool for teaching kids financial literacy (4)

Registration is simple and will only take you a minute or two for parents or teachers.

Goodness knows that we’re all so busy we hardly have time to learn one more platform, right? This one, my friends, is easy.

I promise it will take a second.

cool, interactive tool for teaching kids financial literacy (5)

They’vemade it really easy for you to add a student (or child, if you’re a parent) or to import a class list from a .csv file.

If you’re a parent and you’d rather not add students (like I did above, because I’m a really big nerd), you can simply have your child access the Earn Your Future Digital Lab by clicking on the ‘Launch Earn Your Future Digital Lab’.

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Once on the screen, kids can choose either:

  • Level 1 (Beginner): content designed for kids in grades 3-5 [Coming in fall of 2016!]
  • Level 2 (Intermediate): content designed for kids in grades 6-8 [focus: Help them plan for their future and make smart decisions about money.]
  • Level 3 (Advanced):content designed for kids in grades 9-12 [focus: Prepare students for life after high school and a look at careers, income, saving, credit, budgeting, home buying, risk insurance, stock market, and more.]

We only really looked at the Level 2 resources since Maddy is in grade six.

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In Level 2, there are seven sections to explore:

  • Module 1: Mortgage Mystery
  • Module 2: Truth or Dare?
  • Module 3: Can I Afford a Phone?
  • Module 4: Too Good to be True?
  • Module 5: What’s Your Interest?
  • Module 6: #Link2YourFuture

Maddy looked closely at several modules over time, and I think we both learned a lot.

Kids can earn ‘badges’ for each module they complete. You know we all love a little pat on the back when we finish something with success. . .

cool, interactive tool for teaching kids financial literacy (8)

cool, interactive tool for teaching kids financial literacy (9)

Each section is interactive and packed with information. I mean packed.

Like any solid lesson or unit plan, the modules contain pre-tests, reminders, mini-quizzes to check for understanding, repetition of material, and engaging, interactive components.

The support and resources available is astonishing. Really.

Each module contains printable teacher guides, introduction videos, related videos, and more. I actually almost couldn’t believe how much support was there–but it needs to be! Some of these topics are pretty confusing for kids — and adults!

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The lessons provide a ton of talking points and conversation starters for kids and parents; the PwC Charitable Foundation also includes more related resources on their website.

They’re organized both by topic and age level. You can grab them here: Additional Financial Literacy Resources.

Andreally, I’ve said this before, but it’s worth repeating: the resources are amazing.

Though this is a latebeginning for us as far as raising financially literate children, I’m excited.

I really am.

I’m excited about these resources.

I’m excited about this opportunity.

I’m excited that I get to share this with you, and I’m excited that all of our kids will learn a bit thanks to the Earn Your Future Digital Lab.

And I’m excited that I get to learn a bit, too.

What do you think? Is this something that you will check out with your kids? Might you pass on these resources to your child’s school or teachers?

I’d love to hear it!

fyi: This post was written as part of a partnership with PwCCharitable Foundation, but as always, all opinions are my own, influenced only by my experience as a parent and educator.

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cool, interactive tool for teaching kids financial literacy (2024)

FAQs

How to teach kids about financial literacy? ›

When they're little
  1. Introduce the value of money.
  2. Emphasize saving.
  3. Introduce them to investing.
  4. Encourage a summer job.
  5. Introduce them to credit.
  6. Consider a Roth IRA.
  7. Help them set a budget.
  8. Encourage them to stay invested.

What would be a good method for teaching financial literacy? ›

Make It a Game

Payday is among the best for teaching kids valuable money management skills where players have to make their money cover expenses. They can purchase items, take out loans, and learn to budget.

What are the big 3 financial literacy questions? ›

Table 1 The “Big Three” financial literacy questions
  • Suppose you had $100 in a savings account and the interest rate was 2% per year. ...
  • Imagine that the interest rate on your savings account was 1% per year and inflation was 2% per year. ...
  • Please tell me whether this statement is true or false.

How to engage students in financial literacy? ›

Education Research You Can Use
  1. Play credit score Jenga.
  2. Draft budgets for the future.
  3. Play needs versus wants.
  4. Work From real-world examples.
  5. Parcel Out Beans.
  6. Break down credit cards.
  7. Practice filing mock taxes.

What are the 3 keys to financial literacy? ›

Three Key Components of Financial Literacy
  • An Up-to-Date Budget. Some tend to look at the word “budget” as tantamount to the word “diet,” but at its most basic, a budget is just a spending plan. ...
  • Dedicated Savings (and Saving to Spend) ...
  • ID Theft Prevention.

What is the 50 30 20 rule? ›

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings.

What is the best book for financial literacy? ›

Let's dive in.
  • The Richest Man in Babylon. ...
  • Rich Dad Poor Dad. ...
  • In Dave Ramsey's The Total Money Makeover, readers are given a step-by-step plan to rectify their financial woes. ...
  • Your Money or Your Life. ...
  • The Millionaire Next Door. ...
  • The Simple Path to Wealth. ...
  • The Little Book of Common Sense Investing.
Aug 28, 2023

What is financial literacy for elementary students? ›

At this age, financial education often focuses on basic concepts such as understanding the value of money, distinguishing between wants and needs, and beginning to grasp saving and spending. Games, stories, and interactive activities can be effective teaching methods for these foundational concepts.

What are the 5 principles of financial literacy? ›

The U.S. FLEC highlights five principles as the building blocks of financial literacy, known as the MyMoney Five.
  • EARN.
  • SPEND.
  • SAVE & INVEST.
  • BORROW.
  • PROTECT.
Apr 17, 2024

How do you integrate financial literacy in the classroom? ›

You can use real-world examples, case studies, simulations, games, or projects that involve financial issues or problems that your students can relate to or are interested in. For example, you can ask your students to create a budget for a trip, a college fund, or a business idea.

How do you demonstrate financial literacy? ›

The first step to demonstrate your financial literacy skills is to know the basic principles and terminology of accounting, finance, and business. You don't need to be an expert, but you should be familiar with concepts such as income, expenses, assets, liabilities, equity, cash flow, profit, and loss.

What are the three C's in financial literacy? ›

Students classify those characteristics based on the three C's of credit (capacity, character, and collateral), assess the riskiness of lending to that individual based on these characteristics, and then decide whether or not to approve or deny the loan request.

What are the four quadrants of financial literacy? ›

It categorizes people into four quadrants based on how they earn their money: Employee (E), Self-employed (S), Business owner (B), and Investor (I). Each quadrant has its own strengths, weaknesses, and characteristics. The E-quadrant values security and works within someone else's system.

What are the 4 steps to financial literacy? ›

Key steps to attaining financial literacy include learning how to create a budget, track spending, pay off debt, and plan for retirement.

How can I make learning literacy fun? ›

Talking, singing, playing sound and word games, reading, writing and drawing with your child are great ways to develop your child's literacy. The great news is that everyday activities, like family meals, bath time or shopping, are all fun opportunities for literacy development.

How to gamify personal finances? ›

Some ways you can do this include trying a savings challenge or taking on a debt-payoff plan. You can also incorporate your competitive nature into your game by facing off against others in real life. For example, if you take on a savings challenge, you can challenge another person to try to save as much as possible.

What is financial literacy activity? ›

Financial literacy is key to understanding how to save, earn, borrow, invest, and protect your money wisely. It is also essential to developing short- and long-term financial habits and skills that lead to greater financial well-being.

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