Teaching Kids About Money

Teaching Kids About Money

A Financial Literacy Presentation by

Member Name, CPA

Money Basics

• Adults in trouble today because they didn’t learn lessons earlier in life

• Not learning it in school• Must know about budgeting, credit, saving• Hands-on activities for kids

Start Out Young

• Never too early• Toddlers – money recognition, spending, saving• Show coins and explain value• Piggy banks• Pretend grocery shopping

Elementary School

• Budgeting, goal-setting, borrowing money• Weekly allowance, if possible• 80-10-10 rule• First savings account• Credit cards• ATM machines

Middle School/Jr. High

• Learn how to make money• Extra chores for extra money• Use pre-paid credit card to teach them about

interest and using credit wisely

Stock Market

• Investing vs. saving• Set up mock portfolio

– Invest in what you know.– Research companies online/financial

pages• Two options for entering stock market:

1. Buy mutual fund.

2. Open stock account for child.

High School

• Should know how to earn, save and spend money responsibly

• Checking account– Be able to balance it

• Know how to use credit cards wisely• Reading a paycheck• Involve teens in bill-paying

Birthdays/Special Occasions

• Give money-minded gifts– Books, board games, videos, software– Play ATM machines– Pretend checkbooks– Voice-activated/keypad safes– Money bingo

• Give U.S. savings bonds

Any Questions?