Financial education to kids below 5

Financial education is very important to kids in their daily activities. Especially we need to teach our kid about the financial education in early stages. Because they will understand the situation of the family in their childhood days.

How we can teach our kids below 5 years about financial education?

Teaching financial education to kids below 5 include hands-on activities and day to day experience in their routine.

Here are some ideas to parents to start teaching to their kids.

1. Value of money

Introduce Money to them through playing stores, toy coins or notes. Teach counting using coins or play money. let them analyse and identify and value the money.

2. Little saving

Daily give them a coin and ask the value of money and teach the importance of money by saving little in a penny bank or savings jar.

3. Story Time

Introduce books to them and tell a financial related moral stories about saving, spending and sharing. Stories can engage kids' imagination also gives the valuable lessons about the money management.

4. Role Modeling

Let them see what you are buying and how much you are paying for the things and what you need and different between needs and wants. They will also learn the name of the grocery and also the value of money.

5. Encourage decision making

Parents should give some activities involving money and encourage their achievements and involve them in simple decision making like choosing toys or snacks.

Teaching financial education to kids below 5 is essential for establishing the foundation of healthy money habits in future. By integrating play, stories, saving, spending and giving they will have the positive attitude through money in their later life.


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