Parents today are hard-pressed to find relatable and engaging ways to talk about money with their kids. Many in our community have found success by using money lessons from kids just like them. What do the kid experts say about financial education? Maybe you’ll find some ideas to start the conversation with your kids at home.
Related: Financial literacy for kids
1. Learn about money from the video games you play
Many parents worry about kids playing too many video games. But as it turns out, Minecraft and Fortnite might be teaching your kids financial literacy. Our Instagram community chimed in with a few ways video games helped them understand how money works in the world today.
As @macy.x.ann shared, “Fortnite teaches me how to save money ... until you see something worth it, don't spend anything. It will be pointless to get something that isn't worth it."
Another user, @goncaloo_pinto, says, “Fortnite helps me learn how to manage money and how to not waste it all."
Minecraft even teaches money concepts for kids learning business skills, like @samy.lime, who says, “It boosted my financial intelligence because me and my friends made a massive Minecraft server where we would buy and sell goods... We each had to negotiate prices and find great deals…”
Who knew video games could be a great tool for financial education?
2. Earn your own money
GoHenry kids also say they like to find creative ways to earn their own money no matter what age.
Instagram user @enzo_boarer says, “I earn money by working for my parents at (their) chili factory on weekends or holidays.”
@xoelliexo78 says, “I do chores!! And if I don’t do them then I don’t get my money, luckily enough I do them!”
@jumping.jezza earns money by helping out, saying, “I get some money for washing the car or helping with the gardening!!”
3. Business is for kids too
Max Hayden, a 16-year-old entrepreneur who built a multimillion-dollar Amazon business, says, “People may say business is not for kids, and you may be younger than most people, but it doesn't mean you won't be able to do it." He encourages kids and teens to research their business idea and create a plan to make it happen.
4. Be patient when you try something new and don’t give up
Miracle Garvins, 12, entrepreneur and owner of Miracles Glossy Miracles Cosmetics, has a few tips for kids starting a business, too. One of her most important lessons was not to rush things and be open to learning along the way. She says, “As soon as you start a business, it's not like customers are going to come. You have to give it time, promote yourself, and get yourself out there for that to happen."