It’s not always easy to teach financial literacy to kids. You can repeat yourself several times, but the message may still not sink in. Yet teaching your kids how to be financially literate consumers is a life skill. It’s about money confidence and helping them understand how to prevent and manage financial issues throughout their lives. And this is where financial literacy resources come in. From games to age-appropriate explanations and fun ways of learning, good resources have the power to instill the right money messages in a way that sticks. Here’s what you need to know.
Money missions, can be found in your child’s GoHenry app, and are designed to accelerate your child’s financial education and help us achieve our mission to make every kid smart with money. To access, ask your child to log into their GoHenry app and head to the ‘Learn’ section.
Here your kids can watch animated videos, take quizzes and earn points and badges, learning everything from keeping their money safe to how advertising makes us spend money. You can even use your GoHenry parent app to track your child’s progress. When each lesson comes to a close, another one begins – and your child will unlock new levels as they progress.
The GoHenry Money Guides
We have a financial guide for every age group (see below) with age-related advice and information on everything from talking about money and spending to talking about money issues as your children grow up.
There is also a wealth of financial literacy information in our GoHenry blog, covering everything from saving and spending advice to how kids can earn money and stay safe online.
Also take a look at our post on the Best Money Games for Kids, which looks at helping kids to develop crucial money management skills via online games and board games. Also, The GoHenry Guide to Earning Power and Activities to Teach Your Kids Financial Literacy.
Money and Me
Money and Me is a free 12-lesson teaching resource introducing primary school children to how money and the economy work. It has been created in partnership with the Bank of England and educational experts at Beano and Tes.
The activities help kids gain the knowledge, skills and confidence they need to manage money now and in the future. The resource includes presentations, activities, and games and explores various topics, from the history of money to contactless payments.
Make money make sense
Make Money Make Sense aims to provide young people with all they need to know about the financial literacy aspects of the citizenship curriculum. The resource has been designed so that young people can teach themselves about financial matters from banking and budgeting to ethical consumerism and has areas suitable for Key stages 3-4 and 16+.
Million Bazillion is a podcast about money for kids and their families from Marketplace and Brains on! It’s a US podcast but is a great listen with episodes on What is the stock market? and Why is it so awkward to talk about money? Each episode comes with a transcript, a cartoon explaining key points, discussion questions, tips and ideas for learning more.
Money with Mak and G
Money with Mak and G is a fantastic finance podcast for adults and kids. Mak and G are 11-year-old twins, and each bite-sized ‘minisode’ tackles a financial topic like Piggy Bank Origins, The Value of Money (and how to conserve). As they’re short, they are easy to listen to, and ‘Dad’ chimes in with his 2 cents at the end so both parents and kids can put what they learned into practice. It’s fun financial education for everyone.
Savings Spree (app)
The Saving Spree app this game introduces the concept of earning money for the work that's available and also guides kids through making choices with the money accumulated during the game. It’s a great app as the game demonstrates that events beyond one's control can cost money.
The best money books
There are a range of good money books well with buying for your kids. For older kids and teens Heads Up Money aims to answer all those pressing questions related to money, from investing to economic issues.
For younger kids the Money Ninja series is great teaching kids about saving, investing and donating and why these can all be good things to do with your money. It’s a great way to teach kids to see the benefits of being sensible and generous with their finances from a young age.
If you want to teach your children about finance, money games are a great option. These games provide a fun, interesting learning experience around money, spending, saving and investing. By far one of the best money board games that you can invest in is The Pocket Money: Spend or Save. Designed by Woke Babies, this board game teaches your children about saving and earning money.
The game asks questions based upon the National Curriculum. It is designed for 2-6 players and ages 4 and up. Playing the game regularly with family can help your children to learn financial literacy, as well as better understand the value of money.
Alongside this Game of LIfe, Monopoly, and Pay Day all offer up learning experiences around saving, spending, investing and the value of money.
With our kids being so connected to devices, apps are a great way to expand their financial literacy. Aside from our own GoHenry app which enables kids to participate in the digital economy from an early age, try Pigby's Fair, a money app that offers children the chance to learn about money management by playing a virtual game. The app Gimi’s purpose is to enable parents and kids to keep track of their pocket money. It also aims to give kids an understanding of their finances and can help with financial education.
Practical Money Skills
Pratical Money Skills is an award-winning program developed by Visa, with interactive tools and educational resources to help young people build stronger financial futures. Here you will find guides to everything from credit basics to growing your money, games to encourage young kids to learn more about money and free materials on everything from identity theft to credit cards.
Barclays Life Skills has a range of interactive tools, films and activities available for teens aged 14+, from money personality quizzes to 34 ways to save. They also have resources on understanding payslips, borrowing, investing and more.