GOBankingRates works with many financial advertisers to showcase their products and services to our audiences.
These brands compensate us to advertise their products in ads across our site.
This compensation may impact how and where products appear on this site.
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information.
you’re free to read more about oureditorial guidelinesand our products and servicesreview methodology.
This proves to be more financial education than past generations received.
Many experts feel that financial education should begin well before high school.
The earlier the better, he added.
Teaching financial literacy in college is simply too late.
By that time, many students have sealed their long-term fate by incurring burdensome student loans.
Todays Gen Z and millennial cohorts agree that financial education should start early, according to the Intuit survey.
Some experts believe children can start learning about money as early as age three.
That puts financial literacy in the hands of parents, rather than public schools.
What Is Financial Literacy?
Before we dive into ways to teach financial literacy, it helps to define the term.
Money mindset starts at an early age, agreed Ruchi Pinniger,founder and CEOof Watch Her Prosper.
Children watch, children listen, and children are wise.
Ideally you might start teaching them as soon as possible.
Here arefive easy waysto teach your children about money at any age.
Get them excited about the basics of money, Pinniger said.
Buy them their first piggy bank and show them the thrill of dropping in coins and beginning to save.
Provide an Allowance
Johnson said he believes in teaching children financial concepts using real money.
This may require an allowance from parents.
The best lessons are those taught with real money, he said.
And, the advantage of doing this with kids is that the stakes can be extremely low.
Even very young children can grasp these basics.
Provide them with opportunities to manage their own checking accounts or prepaid debit cards.
More From GOBankingRates
Share This Article:
