MoneyWiz Learning
Smart Money habits start young - Lets build them together
MoneyWiz Learning
Smart Money habits start young - Lets build them together
MoneyWiz Learning is created with an intention to promote financial literacy amongst kids and youth. Teaching kids the basics of money management can help them develop the skills necessary to achieve financial success later in life. From saving and investing to creating and sticking to a budget, early money lessons can give your kids a leg up when it's time for them to make more significant financial decisions.
Key aspects to financial literacy include knowing how to create a budget, plan for short term and long term savings goal, manage debt, and track personal spending. If you think school will prepare your children for the many financial decisions they will face as young adults, think again.
The Council for Economic Education 2022 Survey of the States revealed that only 23 states require high school students to take a personal finance course to graduate.
According to American Association of Family and Consumer Sciences, "Financial education should begin early in life, so that children can develop positive attitudes toward money and acquire the skills and knowledge needed to make informed financial decisions throughout their lives."
It's never too early to start teaching kids about finance! Even young children can learn basic concepts like saving, budgeting, and earning money.
Here are some general guidelines for when to start teaching different financial concepts to kids:
Ages 3-5: At this age, kids can learn basic concepts like counting money, identifying coins and bills, and distinguishing between needs and wants.
Ages 6-10: At this age, kids can start to learn about budgeting, saving money, and setting financial goals. They can also start to learn about the value of money and how to make wise spending decisions.
Ages 11-14: At this age, kids can learn about more advanced financial concepts like investing, credit, and entrepreneurship. They can also start to learn about taxes and the role of government in the economy.
Ages 15-18: By the time kids reach high school age, they should have a solid understanding of basic financial concepts and be ready to learn more advanced skills like managing a checking account, paying bills, and preparing for college expenses.
"Financial education has a positive and significant effect on young adults' financial behaviors and financial well-being. Early financial education, in particular, has been found to be more effective in developing financially responsible behavior." - "The Effects of Financial Education on Young Adults: Evidence from a Randomized Controlled Trial," Journal of Consumer Affairs
“Early exposure to financial literacy education increases the likelihood of young adults being financially literate and engaged in financial behaviors that promote financial well-being." - "The Relationship between Financial Literacy and Financial Behavior: A Meta-analysis," Journal of Consumer Affairs
Grade 3-5
Grade 3-5
Grade 1-3
Grade 3-5
Grade 1 - 3
Grade 1-3
Grade 10 - 12
Grade 10 - 12
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