FINANCIAL LITERACY GUIDE FOR KIDS — SENSE 2 CENTS

Financial literacy is an understanding of the skills and knowledge that allows an individual to make informed
and effective decisions with all of their financial resources. It encompasses budgeting, saving, investing, and
includes anything and everything that deals with money management.

IMPORTANCE OF FINANCIAL LITERACY

Financial literacy unlocks the door to financial success.It empowers us to make smart financial decisions. It provides the knowledge and skills we need to manage money effectively — budgeting, saving, borrowing, and investing. This means that we’re better equipped to reach our financial goals and achieve financial stability. The most interesting and easily adaptable way is the use of  Financial literacy guide for kids

The particular benefits of financial literacy will differ depending on a person’s circumstances, but some common situations in which financial literacy can help include:

*Saving for retirement.

*Creating and sticking to a balanced budget.

*Purchasing a home.

*Selecting insurance.

*Reducing expenses.

*Investing.

*Buying a car.

*Saving for college.

*Managing debt.

*Using credit cards

FINANCIAL LITERACY AMONG KIDS — A MUST

Financial literacy guide for kids!! For many kids, personal finance is first learned outside the classroom. The education they receive comes from the financial habits they see around them — TV and the internet, family and friends. Some of what they learn is positive. Some of it isn’t.

To begin, kids should become familiar with the basic concepts of financial literacy. This includes core topics like spending choices, saving, and needs and wants. There are many ways through which these basic concepts can be taught to them. 

• FINANCIAL LITERACY GAMES — BEST WAY TO LEARN FINANCIAL LITERACY

There are many Financial Literacy Games available in the market which are specifically made for the purpose of indulging kids into a financial learning mindset in a playful atmosphere. One of the best games is financial literacy board games which helps to guide them the proper meaning of financial literacy.

Financial Literacy Flash Cards

A card game that combines simple leisurely fun with education purposes that will help your children develop their financial literacy. It gives a new way to instill learning habits in them.

Financial literacy BOARD GAME

With this tool, learning can become part of the family fun! It challenges you and your family to test your financial management skills.

PEYTON SAVES (BOOK WITH COLORING PAGES)

Peyton is a way to becoming an entrepreneur with learning and playing along the way.The book introduces a whole new way of learning financial literacy.

Printable Financial Literacy Activity

With the Printable Financial Literacy Activity Book, your kids will test their financial skills and challenge themselves with practical games which will further solidify what they have learned.

CONCLUSION

We all agree that Financial Literacy among kids is important, but even more important is the way in which it is taught to them. Anything forced upon the kids might detach them from this important lesson and they might not like to indulge in it again.Therefore , only the basic concepts must be kept before them and they are :

1. What is money?

2. Money must be earned

3. Money is used to buy things

4. There’s a difference between “needs” and “wants”

5. Money should be spent wisely

6. Saving gives us money to spend in the future

All these concepts form the core of Financial Literacy and if learned properly, will go a long way in making our future generations the masters of it.