If you want the kids in your life to live their best lives, talking about money early and often can make a huge difference. But it can seem daunting to figure out ways to make the concepts both understandable and interesting for kids. To help you start out on the right path, we’ve combined a list of our favorite ideas to make learning about money fun for kids – and hopefully more fun for you too!
1. Play house! Give your kids an age-appropriate job and pay them for their work. Then create a little store where they can redeem their hard-earned money for treats or prizes.
2. Make or buy three different piggy banks to show kids how to set aside money for savings, spending and giving; use clear containers so kids can see their progress.
3. Play money-based board games like Monopoly, Life or Act Your Wage.
4. Watch kid’s money videos on Youtube together and talk about them afterwards.
5. Host a contest to see who can save the most money in a month for something they want or to donate to charity.
6. Go shopping at garage sales and let your child spend the money they have earned.
7. Use money apps such as Piggy Bot and Savings Monster. For other ideas, click here.
8. For older kids, take them on a field trip, or make a Zoom call, to a financial advisor.
9. Set up a real kid’s account at your local bank or credit union.
10. Play business! Pretend you are starting a business with your kid. Brainstorm about different types of businesses and how much money you will need to start the business.
While this article is about teaching kids about money, you may be surprised that you could learn some things too. So, go have fun with your kids, grandkids or students!