Good money habits at an early age lay a foundation for good money decisions throughout life. Why not start teaching your kids about money now? To learn more check out these resources:
Teaching your kids about money
- Not sure what your children should be learning, when? The Financial Consumer Agency of Canada has a handy timeline that outlines at what ages you should introduce various financial concepts.
- Kids and Money: Money 101 Magazine: parents’ guide to teaching children about money and basic money management skills
- The dos and don’ts of teaching your kids about money, Canadian Living: ten tips to help you teach your children the right lessons about money.
Looking for some old school resources? Check these books out of your local library:
- 18 Great Books to Teach Kids About Money
- Children’s Books about Money from the Incidental Economist
- Teach Children about Money compiled University of Nevada Cooperative Extension
- Coin Spot Game, TVO Kids: a simple game for preschool children that helps children learn about the different Canadian coins—what they look like and how much they are worth
- Spend, Save, and Share, Sesame Street: a series of money-related videos that look at basic money topics in a way that young children can understand
- Peter Pig, Practical Money Skills Canada: a simple game for kids ages 4–7 that helps them practise sorting and counting coins with the help of wise Peter Pig
- Fun Shopping Game, Kids Math Games: based on British money, this game asks visitors to purchase certain items and then come up with the correct change—it’s great for kids who are reading and can do simple math
- Tumbletown Shop around Game, TVO Kids: kids are challenged to buy what they need to go camping while only having a set amount of money to spend, so this game teaches children about making lists, finding sales, staying focused, and counting out money and change
- It’s My Life: Money: a series of money articles written in simple language with examples that children can relate to—topics include Spending and Saving, Needs Vs. Wants, Set Money Goals, Expect Expenses, Track Your Cash Flow, Create A Budget, Make A Saving Plan, Bank It!
- 7 things that teens need to know about money, Canadian Living
- The Mint: a fun approach to learning about money for kids that covers how to earn, save, spend, and give money. Read articles packed with money tips, take a quiz to find out how entrepreneurial you are, or see how long it will take you to become a millionaire. It’s a great resources that are easy to read and relate to, and also offers sections for teens, parents, teachers, and recent graduates.
- Dollar Decisions: this online game helps teens work through common money decisions to help them realize how their decisions affect their money. Offers realistic decision making processes and various choices (some good, some bad) to help teens understand various situations.
- Get Smarter with Funny Money: a lighthearted but pointed series of videos, blog entries, and teacher tools to help students learn about money and help teachers (read parents) share basic money concepts with their teens.