Financial literacy is something all parents struggle to instill into their children. And having worked in the financial world for the past 21 years I can assure you that, sadly, that kind of literacy is still scarce.
It may be hard to determine at what age is ideal to teach your kids about money, but this is something I honestly recommend you to do. Obviously, a 5-year old has zero interest in learning about budgeting, but they probably understand that money can get you things you want and they are usually willing to play games that include some sort of pretend shopping - at least my kids did at that age.
As a parent, teaching our kids financial fundamentals may not be an easy task. To make it easier, it helps to use fun games and questions to get kids thinking and talking about money. Printable conversation starters provide an excellent way to do this, so when I was asked to share this, I didn't even hesitate.
By prompting kids with fun money-related questions, you make it that much easier to dive into conversations about money and other related topics. At a young age, it helps to start with money basics, such as understanding the value of quarters and dollars (or cents and euros, in our case).
As they get older, you can start discussing more difficult topics, like budgeting, savings, and financial goals or even basic finance terminology, such as taxes and credit. Of course, it also helps to show your kids how these concepts work in real life.
My kids have had piggy banks since they were fairly young, and they "deposit" there the money their grandparents and other family members give them on birthdays and Christmas. I still have not started an allowance scheme, though I may start soon with my son (who recently turned 12).
Also, when you go shopping, make it a point to let them physically handle your cash and hand it to the teller, or explain to them why and how you take money out of the ATM when you withdraw money.
To make the task much easier, Wikibuy has compiled 56 printable money conversation starters for kids of all ages. From 5-year olds to your adolescent teen, these prompts will help you lay a solid financial foundation that your kids can rely on in years to come!
Link to all money conversation starter questions:
Have fun with these, and happy Friday!
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