Six Best Ways to Teach Younger Kids about Money
The desire to give our children something we didn’t have is one of the most universal sentiments. Becoming financially literate, knowing how to handle money well, and eventually being financially secure or even wealthy is really high on that list. But what if you don’t feel confident in your own financial knowledge or know that you might need a little support?
We’ve got this.
One of the goals at the MAIAs is to find the best, most innovative and most creative ways to teach financial literacy to children, and in the 2022 awards, we saw a great selection from all over the world. From a Brit in Thailand who writes about his “grandfather’s fables” to a start-up in Canada asking, “Does it make sense?” there are ideas here for everyone, everywhere. We’ve got award-winning books, cartoons, apps, games, and even full courses – all your bases are covered in just six entries.
Read on for everything you need to help your child learn more about financial literacy, become comfortable handling money, understand its importance, and develop the skills to be financially secure and independent as early in life as possible.
Cha-Ching – The Prudence Foundation – Global
Cha-Ching is a financial literacy programme for 7- to 12-year-olds. Its cartoons, characters, and music are a superb way to equip kids with the knowledge, tools and practice they need to make informed financial decisions and receive a basic understanding of managing money.
The project began in 2011 and was developed by The Prudence Foundation with Cartoon Network Asia and children’s education expert Dr Alice Wilder. The storylines, music videos, comics, cartoons, and curriculum focus on four fundamental concepts of money: Earn, Save, Spend and Donate.
Cha-Ching now works with Departments of Education and NGOs around the world. Find out more here.
Easy Peasy Finance – Rishi Vamdatt – USA
When Rishi Vamdatt was just eight years old, he noticed the K-12 education system lacked adequate financial literacy lessons. To rectify this, he started creating weekly YouTube videos that broke down complex financial concepts and terminology in a way that children and beginners could easily comprehend.
Rishi is now 12, and his Easy Peasy Finance channel now has over 250 personal finance videos covering topics like investing, taxes, borrowing, insurance, and retirement. This has grown into a child-friendly website with fun, animated videos, quizzes, infographics, calculators, a glossary of terms, and more.
Rishi has also released two books – Easy Peasy Money and Easy Peasy Investing. Find out more here.
Grandpa’s Fortune Fables – Will Rainey – British
Will Rainey is a Brit living in Thailand with his wife and children. He wrote Grandpa’s Fortune Fables to teach kids aged 7 to 13 about money using fun stories. The book features a young girl called Gail, who shares tales about how her grandpa became wealthy.
Grandpa’s Fortune Fables uses the analogy of money being like a seed with the ultimate goal being to plant (as in save) to grow a forest. The kids learn that those who have a financial forest are wealthy and secure. Crucially, Gail doesn’t just share what she finds out; she also explains the actions she is taking with her money. The book has been incredibly successful. Find out more here.
Gifting Sense – Karen Holland – Canada
Gifting sense was founded by Karen Holland and is a mission-driven organization aimed at children between 3 and 13. The aim is to establish financial habits and beliefs that will inform and guide the kids in adulthood.
One of the main aspects of the project and site is its innovative DIMS – Does It Make Sense?® Score calculator lets children assess, compare, and categorize potential purchases before they buy. The site teaches the importance of considering the value of something before purchase, to see if it is really needed. The website has already had over 20,000 visits.
To make the program accessible for all, there is no fee structure, registration requirements or paywall. Find out more here.
Money Prep – Pam Liyanage – Canada
Featuring an app, games, and a financial course, MoneyPrep is a full-spectrum financial literacy program for kids in grades 1-12. The course teaches children essential skills such as being a smart consumer, making responsible spending choices, saving money, setting goals, keeping track of money, creating a budget, and more.
The content is developed by industry leaders who are experts in educational publishing, financial planning, and grade school teaching. The topics and education are different for those in grades 1-6 and 7-12 and also include gamified and interactive learning elements. Find out more here.
MoneyTime – Neil Edmond – New Zealand
MoneyTime is an online modular financial literacy program for 10- to 14-year-olds. Designed by experts to educate and promote participation, it is a digital program that is self-taught and gamified. The content is regularly updated to stay current while teaching various essential financial topics.
The program consists of 13 modules covering eight topics, designed for children to do with their parents or at school – although it is self-taught and covers the ‘what’ and ‘how’ of teaching, so carers don’t need to be experts. In addition, the content is localized for every country, so it is directly relevant to all situations. Find out more here.
Find more details of all the other winners of the 2022 MAIAs here. For any other information email us at michael@www.maiawards.org.