Lessons for Kids From the Crisis

One of the greatest opportunities presented by the pandemic is to give children an appreciation for the workings of the economy.

mother and little daughter wearing surgial mask
(Image credit: Getty Images)

When I’ve written about kids and money in the past, I’ve always emphasized the importance of teachable moments—everyday tasks and events that let you slip in a lesson about managing money without your kids even real­izing it. And the coronavirus pandemic may be the ultimate teachable moment. “There’s a lesson in every crisis,” says Annamaria Lusardi, director of the Global Financial Literacy Excellence Center at George Washington University. “The lesson here is to learn the basics so we’re better able to face a shock.” (Lusardi’s group has developed a Quick Guide for Parents with activities and resources.)

Subscribe to Kiplinger’s Personal Finance

Be a smarter, better informed investor.

Save up to 74%

Sign up for Kiplinger’s Free E-Newsletters

Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.

Profit and prosper with the best of expert advice - straight to your e-mail.

Sign up

To continue reading this article
please register for free

This is different from signing in to your print subscription

Why am I seeing this? Find out more here

Janet Bodnar

Janet Bodnar is editor-at-large of Kiplinger's Personal Finance, a position she assumed after retiring as editor of the magazine after eight years at the helm. She is a nationally recognized expert on the subjects of women and money, children's and family finances, and financial literacy. She is the author of two books, Money Smart Women and Raising Money Smart Kids. As editor-at-large, she writes two popular columns for Kiplinger, "Money Smart Women" and "Living in Retirement." Bodnar is a graduate of St. Bonaventure University and is a member of its Board of Trustees. She received her master's degree from Columbia University, where she was also a Knight-Bagehot Fellow in Business and Economics Journalism.