*I am not a finance expert and if you are looking for financial advice I encourage you to seek out a professional. Also, nothing in this blog post is sponsored.
Here are some tips and resources about how you can teach kids about personal finance. I think the most important thing is to lead by example and have conversations with your kids about money. Since one thing I constantly hear is how people wish they learned about personal finance at school or that someone taught them.
Elementary Age
Biz Kids: is an Emmy award-winning tv show that teaches kids about financial literacy. I used to watch BizKids as a kid and I liked how they featured kids my age. I looked up to these kids who were starting businesses or showing you how to save money. They also have a website that has a lot of useful resources including ones for Teens.
Give them an allowance: This allows them to learn how to save and budget money
Save, spend, give jars: I have seen this idea online where kids divide up any money they earn into three jars.
- Save jar: The money is put into a savings account that the kid can use when they are an adult for college or other expenses.
- Spend jar: They can use this money however they please.
- Give jar: They choose a charity that they care about to donate the money to
Caregivers can set any boundaries and decide what percentage should go into each jar.
Middle and High School
KhanAcademy: They have free personal finance lessons that cover saving, budgeting, interest, retirement, and more.
TeensGotCents: This is a blog that I discovered when I was in high school. The founder is one of the reasons I started this blog. It is run by young adults and teens who write about how to save money.
Edx: You can take free personal finance college classes online. This is a great way to learn about new topics and most of the courses should be free. However, if you want to earn college credit you would have to go through Edx partner programs. For more information click the Edx link.
All ages
Money Prodigy: Money prodigy also mentions free online curriculums that families and teachers can use to teach kids of all ages about money. I discovered this article by Money Prodigy when I was doing research for this blog post. I like how they compiled over 31 free resources that families can use.
You don’t need to buy a curriculum, book or class to learn about personal finance. If you do want to then go ahead. These are just some ideas to get you started. If you found this post helpful, subscribe to my email list to know when new blog posts are published.
