Learning about finances and money can be fun and engaging, you just have to find a way to do it. To get children and students interested in learning about financial literacy and to motivate them, you have to be creative and think outside the box.
With smaller children, you have to be imaginative in presenting finances and money to them through play, with them being at the cash register and you being the customer. You can use real money here, but also monopoly money, it doesn’t matter because the goal and intention are the same.
When it comes to older children and students, they can understand faster but also lose interest even faster, so it is very important to intrigue them long enough and in the best way so that they persist in learning and improving their financial literacy.
When children are interested in something, they find ways and methods to reach the goal. It is important that you train them and that they adopt the right habits and rules, and they will do everything else, you just need to trust and support them.
There are many ways and strategies to teach, interest, and realize financial literacy in children of all ages, but in a fun and innovative way.
- Give them a credit card
One of the best ways to quickly learn finances, financial literacy, and various responsibilities and skills is by giving them a kids debit card. The process of getting a card is quite simple and fast. Parents provide the children’s basic personal information and by paying funds into the account, it is activated automatically and then it is ready for use.
Parents have full control over the account, transactions, and all activities that children do on the account. In addition to all the other possibilities that children have, they can receive payments, earn, invest, save, donate, and spend money.
Parents draw up tables of curricular, extracurricular, and household duties for their children, which they must complete within a given period, and all of them are easily personalized according to the child’s age.
- Let them earn their own pocket money
If you want to make children into responsible adults in the future, you will have to treat them like that. If they want to increase their pocket money, they will have to do additional work around the house, volunteer, or help in the neighborhood. Also, many parents give their children pocket money as a form of salary, with the condition that they agree on the amount that can be increased or decreased under the performance of duties within the given period.
- Let them find a part-time job
If children have certain ambitions and desires and are good at math or languages, they can teach other children their age or younger. Some children decide to walk the dogs, mow the neighbors’ grass, take care of pets, look after children, make various objects, paint art, and the like.
The possibilities here are various and only the sky’s the limit. Don’t restrict them, let them choose what they like and do. Also, children can earn extra money if they do extra work in and around the house, and their parents can increase their income in line with their ambitions and work.
- Let them take over part of the costs from the store
If they earn or have good pocket money, then they can make a list of groceries and go shopping with you at the store and participate at least in part in paying for them. In this way, he will best see how much food costs and that there is never enough money, and that he will not always fulfill all his wishes because he will not want to spend money.
- Encourage them to invest
One of the best long-term ways to learn finance is investing. They will have to teach them the basics, but credit cards themselves offer the option of certain investments that must be approved by parents.
Children can invest in well-known companies such as Netflix, Google, Apple, and many others, and monitor whether the shares rise or fall. encourage them to invest in various types of industries to expand their earnings.