FINANCIAL LITERACY FOR KIDS
Mother, Baby & Child|August 2024
We take a look at how and why you should consider teaching children about money matters.
FINANCIAL LITERACY FOR KIDS

In an age where financial education is more useful than ever, it’s always good to equip our children with the skills they need to navigate the complexities of money management. From understanding the value of saving, to making informed spending decisions, financial literacy lays the groundwork for a lifetime of financial health. But how do we, as parents, instil these vital skills in our children? Let’s explore the importance of financial literacy for kids, alongside some engaging ways to teach them about money.

WHY FINANCIAL LITERACY MATTERS

Recent studies suggest that many adults struggle with basic financial concepts, which can lead to a cycle of poor financial decisions and stress. By introducing financial literacy at a young age, we can help children avoid these pitfalls. Financially literate kids are more likely to understand concepts like budgeting, saving and investing. They’ll be better prepared to handle credit responsibly and make informed decisions about their futures.

Also, instilling financial literacy promotes a brilliant sense of independence and confidence in little ones. When children grasp the basics of managing money, they feel empowered to make choices that align with their values and goals. They learn to set objectives, work towards them and appreciate the satisfying relationship between effort and reward.

MONEY CONVERSATIONS

The foundation of financial literacy begins at home and it’s never too early to start having conversations about money. It can be smoother for kids to take on board when you incorporate these discussions into everyday situations. For instance, when you go grocery shopping, explain how you make decisions based on prices and needs. You could encourage your children to compare prices and ask questions about what you’re buying and why.

This story is from the August 2024 edition of Mother, Baby & Child.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

This story is from the August 2024 edition of Mother, Baby & Child.

Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.

MORE STORIES FROM MOTHER, BABY & CHILDView All
SUSTAINABLE FURNITURE FROM ETHNICRAFT
Mother, Baby & Child

SUSTAINABLE FURNITURE FROM ETHNICRAFT

Check out the Belgian brand that's elevating homes in the region with a great ethos of sustainable luxury.

time-read
3 mins  |
December 2024
SETTING UP A GREAT HOME OFFICE
Mother, Baby & Child

SETTING UP A GREAT HOME OFFICE

Working from home is on the rise, particularly among parents of younger children. How can you make that arrangement work for you?

time-read
2 mins  |
December 2024
A SPECIAL SEASONAL STAYCATION!
Mother, Baby & Child

A SPECIAL SEASONAL STAYCATION!

As the holidays draw near, Rixos Al Mairid Ras Al Khaimah has plenty to offer families looking for an extra special festive season.

time-read
3 mins  |
December 2024
A TROPICAL CELEBRATION IN MAURITIUS
Mother, Baby & Child

A TROPICAL CELEBRATION IN MAURITIUS

For something different this Christmas, here are two incredible tropical resorts that your family will love.

time-read
2 mins  |
December 2024
HOW TO COMMUNICATE WITH YOUR CHILD'S TEACHERS
Mother, Baby & Child

HOW TO COMMUNICATE WITH YOUR CHILD'S TEACHERS

We look at some tips and strategies to help you communicate effectively and confidently with your child’s teachers.

time-read
3 mins  |
December 2024
LEARNING TEAMWORK THROUGH OUTDOOR PLAY
Mother, Baby & Child

LEARNING TEAMWORK THROUGH OUTDOOR PLAY

This month, the educators at Dibber International Nurseries discuss why playtime outdoors is essential for teaching teamwork to young learners.

time-read
5 mins  |
December 2024
UNDERSTANDING MOODY TEENAGERS
Mother, Baby & Child

UNDERSTANDING MOODY TEENAGERS

Puberty goes hand in hand with mood swings. As a parent, what can you do to help?

time-read
6 mins  |
December 2024
FESTIVE FUN FOR FAMILIES
Mother, Baby & Child

FESTIVE FUN FOR FAMILIES

The festive season is a time of joy, togetherness and celebration - the perfect opportunity to try some new activities together as a family.

time-read
7 mins  |
December 2024
THE POWER OF SAYING "LET'S TRY..."
Mother, Baby & Child

THE POWER OF SAYING "LET'S TRY..."

Having the right words on hand is a huge part of parenting. This is a phrase that helps everyone feel like they're on the same side.

time-read
3 mins  |
December 2024
STRATEGIES FOR DINING OUT WITH YOUNG KIDS
Mother, Baby & Child

STRATEGIES FOR DINING OUT WITH YOUNG KIDS

Eating out can be tricky when you have younger children. Here are five things that may help!

time-read
2 mins  |
December 2024