Parents don’t always know where to start when it comes to teaching children about money. You know you should be having the conversation, but when you don’t feel like you have mastered money skills yourself it is hard to know where to start.
Fortunately, there are a number of online resources that provide information and games to help children of all ages learn about money, finances and investing through interactive learning. A few of the sites that are worth checking out include:
http://www.themint.org/teens/. This site is connected to themint.com, which is a great budgeting resource for anyone earning money. This section of the site goes over basic financial education such as spending, saving and investing concepts including managing credit cards and how interest impacts the price of things you buy. There are sections for younger children, teenagers and parents offering tips, valuable information and interactive games to reinforce what is taught.
http://www.monetta.com/educational-games.html is a site with a variety of games for children to play and learn financial skills along the way. Topics cover spending, saving and investing skills. The games are interactive and entertaining, giving children a way to “practice” making financial decisions. Want to start a lemonade stand or save for a road trip or play financial soccer, then Monetta is the place to go.
http://www.watreasurer.financialfootball.com/games/trainingcamp/ff/ is for football lovers. This site is sponsored by Visa and the NFL. They have created a fun and interactive game that develops financial skills for teenagers and young adults using football basics.
http://financial-education-icfe.org/children_and_money/index.asp is geared more towards teenagers and has more in-depth information on money management. This site is not as “fun” in the sense of games but contains valuable information for older teens that are earning income and need the skills to manage money. There is also a section for parents and grandparents with detailed ideas on how to educate your children and grandchildren with the financial literacy skills needed for successful adulthood.
http://www.hsfpp.org/ provides a complete financial literacy program for children in grades 8 to 12. The program is geared towards parents and teachers with complete lesson plans, interactive ideas and games. It can be used by teachers, home school groups, parents, and youth group leaders.
http://www.ourkidsandmoney.com/ is a site dedicated for parents and presents ideas and how to teach your children. It covers areas like talking to your children about how to pay for college or getting their first job. The site breaks down teaching moments by age group, from preschool to college aged children.
The majority of financial literacy that children absorb and use comes from the home. Finding ways to include teaching moments for financial education in everyday life is an important part of your children’s development. These resources will help make the job easier and provide interactive games your children will enjoy playing while they learn.
While online games will not make children financial geniuses alone, when combined with meaningful discussions and practical application, your children can gain all the necessary financial skills needed before leaving home.