Financial literacy is the development of skills focused on money, such as making, budgeting, saving, investing, wise spending, and taxes. These skills are vital for the future of our children, and yet – they tend to not really be taught in a traditional sense. Practical Money Skills Canada has a collection of great resources to help develop and intentionally teach our kids the importance of financial responsibility.
This website has resources for adults, children, and educators. If you are looking for yourself, you will find helpful calculators and downloadable booklets in all sorts of areas of finances, including a general money skills guidebook.
Financial Literacy Games
For kids, there are several great interactive games for kids, such as:
- Money Metropolis – where they set a financial goal and then learn about working for money and choosing to save or spend. For example, family and neighbours are offering to pay you for raking the grass, but you need to have a rake. Is it worth the investment? What about going to the clothing store? It’s a great way to teach about setting financial goals.
- Financial Soccer – designed for kids 11+, this game is an actual soccer game, but in order to pass or shoot, you need to answer finance based questions that are categorized by either easy, medium, or hard. We tried out the first level of play, and some of our questions were “Using a Debit Card takes money out of ….”, “If a $50 pair of shoes is 30% off, how much will they cost now?” followed by 4 multiple choice answers. It was very exciting and interesting to keep playing!
- Peter Pig’s Money Counter – a game where you have to figure out values of stacks of Canadian coins, saving up throughout the game. At the end, you get to use your money earned to go shopping for Peter Pig. (I think you can download this as an iPhone app as well, if you prefer.)
If you are looking for something for your high school students, check out their program Choices & Decisions. This program teaches the basics of making money, budgeting, credit cards, buying a car and a house, banking, the effects of advertising, etc. It includes teacher guides and activities. You can either download it directly from the website, or order it on DVD.
For the younger crowd (gr 2-7), they have comic books using the Avengers and Guardian of the Galaxy to teach about finances. These are available in several different languages, including French. A teacher’s guide is available to bring the concepts presented in the comic into practical life ideas, as well as some additional resources and printables as needed.
All in all, this website provides a great set of learning tools to help develop your child’s (and your!) financial literacy. The extra bonus is that everything is available for free.
Find everything at http://www.practicalmoneyskills.ca/