5 Fun Ways to Teach Kids About Money
You can help your children spring into financial literacy by incorporating money talks with enjoyable activities.

April is Financial Literacy Month—the perfect opportunity to teach kids about money as we inch towards summer. They'll want to go to waterparks and baseball games with friends and enjoy other activities, and they should learn now how they can afford to do all those things. In teen lingo, I understand that kids are all about "swag," and I agree—kids really do need SWAG. However, the swag I'm referring to isn't sass or attitude. It's Savings With A Goal.
As a mom and Certified Financial Planner, I know it is important to raise financially savvy kids. How can we teach children about financial literacy early on? There are apps out there to help with this, but hands-on learning is quite valuable. Making your financial lesson an experience that inspires creativity and reflection can leave a lasting impact on your children.
Here are five fun ways to teach your kids about money:
From just $107.88 $24.99 for Kiplinger Personal Finance
Be a smarter, better informed investor.

Sign up for Kiplinger’s Free 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.
1. Remember the past.
Children need to know about their family's history, including the struggles and victories. Talk to them about how you grew up and what you were taught about money. And explore more of the family tree. Have your child look up a relative's career 20 years ago. How much did they earn? What were the conditions like? What education or skills were needed? And what does the career look like today?
You can also research life for a teen back in a specific decade. What did kids do to earn money? What types of activities were available? The point of the exercise is to teach children how times and finances have changed over the years.
2. Pinch pennies.
On a nice day, have your child look for spare change in the neighborhood as you walk together or around the house when it's not so nice out. How much money did he or she find? Collect it all in a jar that you decorate together. As a family, decide what that savings will be used to fund. Perhaps a movie night or pizza dinner? Keep adding found change to the jar, and each week, sit down with your child to discuss how much money is in there. If he or she needs pocket money, you can take money from the jar, but explain to the child how taking from savings impacts the fund and the time it takes to reach your goal.
3. Plant an idea.
Money doesn't grow on trees. Who hasn't heard this phrase come out of your parent's mouth? Take your child to a gardening store, and buy seeds and other equipment. Explain how in order to save money, you need to start with an idea seed. Plant a seed with the child, and discuss how savings requires responsibility, care and patience, similar to growing a flower or tree.
4. Start a really small business.
Discuss how some people venture out and start their own businesses. Have your child come up with a skill or hobby, such as making cookies, creating friendship bracelets or knitting scarves. Together, you can research the costs for materials, such as chocolate chips or yarn. Then, think about a kiddie business plan. How many items do they want to make? How will they sell the items, and what should they charge?
While supervised, allow your child to make a stand outside to sell the products. At the end of the day, how much did you sell? Deduct the amount of the materials from the grand total. You can use this as learning opportunity to teach kids how businesses earn profits. Plus, your children can enjoy a sense of pride from earning their own money. Foster that feeling and encourage them to come up with other ways to earn more.
5. Connect with your community.
Explain to your children how money helps support community organizations and how helping others is a great way to give back. There are programs such as Kids Enjoy Exercise Now (KEEN), which matches a volunteer with an athlete who has a disability or other mental or physical challenge. It helps kids know how wonderful it feels to volunteer and may inspire them to come up with a fund to support a cause.
Whatever activities you and your kids like to do together, look for opportunities to talk frankly with them about money and create teachable moments. The more financial literacy you can give them when they're young, the greater their chances of achieving financial independence when they grow up.
Marguerita M. Cheng is the Chief Executive Officer at Blue Ocean Global Wealth. She is a spokesperson for the AARP Financial Freedom Campaign, a CFP Board Ambassador and proudly serves on the FPA National Board of Directors.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Marguerita M. Cheng is the Chief Executive Officer at Blue Ocean Global Wealth. She is a CFP® professional, a Chartered Retirement Planning Counselor℠ and a Retirement Income Certified Professional. She helps educate the public, policymakers and media about the benefits of competent, ethical financial planning.
-
Rally Fades on Mixed AI Revolution News: Stock Market Today
All three main U.S. equity indexes opened higher but closed lower as a seven-session winning streak for the S&P 500 came to an end.
-
Stretch Your Holiday Shopping Budget Further with These Under-$50 Gifts That Don't Feel Cheap
Amazon October Prime Day is the perfect chance to nab some under-$50 gifts that feel more expensive than they are (because normally they would be).
-
Escaping the New Golden Handcuffs: A Financial Expert Has a Plan for Today's Executives
Feeling stuck in your job? It could be your complicated compensation package, but it also could be where you live, your family or even how you view yourself.
-
Four Ways a Massive Emergency Fund Can Hurt You More Than It Helps
Saving too much could mean you're missing opportunities to put your money to work. Redirect some of that money toward paying off debt, building retirement funds, fulfilling a dream or investing in higher-growth options.
-
I'm an Insurance Expert: This Is Exactly Why Your Insurance Rates Are Soaring (and What You Can Do)
A dramatic rise in the frequency and cost of severe weather and wildfires means you need to prepare, prepare, prepare — no matter where you live — for higher premiums.
-
Moving Abroad? You Might Need a Cross-Border Financial Adviser
If you want to live in another country long term, you could benefit from an expert's guidance. Here's how to find a good qualified adviser to help with residency requirements, documentation, financial laws and tax impacts.
-
Eight Ways to Stay Safe When Making Cashless Payments
Consumers are ditching cash for the convenience of digital payments, but fraudsters are right behind you. Just a few simple steps can help you stay safe.
-
I'm a Financial Planner and a Parent: Here Are Five Money Habits Every Young Family Should Have
When children are young, it can be hard to meet immediate costs, let alone save for the future, but these five habits can help build lasting financial security.
-
Dealing With a Bad HOA Board? This Book Could Be Your Battle Plan
'Bad HOA' by Luke Carlson empowers homeowners to push back against unfairness, offering advice on dealing with challenging homeowners associations (HOAs).
-
Advisers Face a Fiduciary Challenge When Discussing Alternatives to Trump Accounts
While Trump Accounts offer some benefits for early savings, investment advisers need to be cautious when recommending alternatives like 529 plans or Roth IRAs, as those suggestions could create fiduciary conflicts.