Home Education Children need regular lessons in financial literacy

Children need regular lessons in financial literacy


For many, discussing money is hard. But parents need to begin having ongoing dialogues with children from a young age to ensure they are financially literate.

If stuck, consider starting the discussion by explaining where money comes from – making it clear that money neither grows on trees nor in parents’ wallets. To help them understand, develop a “money in, money out” budget.

At this point in their lives, children likely focus on money going out. But where does it go? And when? And why? A budget, reviewed together monthly, can be an easy way to show the value of money.

– Paris Davis, Washington Federal Bank

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