9 Financial Literacy Topics To Cover With Your Child

 We have spent a lot of time thinking about students' financial literacy topics and putting together an effective program we believe teaches children everything they need to know about personal finance. We are happy to share what we believe makes a robust financial literacy curriculum. Here are 11 topics that you should cover with your children about financial literacy. 

  

#Teach students about saving money

Money in a bank account is relatively safe but there is an additional benefit – it can earn interest! Teach your children the importance of saving and the differences between everyday checking accounts and savings accounts and when to use each one.

#Teach kids to understand interest

Earning interest is an easy way that everyone can make money. Introduce the concept of simple and compound interest and explain the benefits of starting to save early.

#Help kids understand getting paid and paying tax

It’s great to be paid for doing a job, whether it’s via wages or salary. However, it’s important for children to realize that some of their pay will be paid as income tax. Discuss why income tax is necessary and how it is calculated.

#Teaching students smart spending habits

Explore ways children can get the best value when spending their hard earned money. Buying cheap is not always the answer! Discuss the pressure they might experience from peers or advertising to buy things.

#Considering renting or buying a property and what the difference is

Most people would rather buy their own house than rent one. Look at the cost of houses in your area and city with your children then use budgets to help them figure out whether they would be able to afford to buy or rent.

#Teach students the basics of marketing

Marketing is telling customers about your product or service. Children should learn some simple tips on the best way to do this, then for fun they can make something to sell and market it.

 

#Teaching kids the basic of investing: Stocks

Introduce children to the basics of earning money via owning stocks and explain how the stock market works.

#Teach kids the basics of promotion, selling and pricing

Promotion is how you get your marketing message to your customers. Teach them about advertising, loyalty programs, how to set a price and make a sale.

#What is net wealth and why it’s important to invest to grow it

Finally explain why children should save to invest and why they should invest to grow their net wealth. Also explain the importance of protecting their net wealth by diversifying their investments.

Let The Big Red Group do the teaching for you:

The Big Red Group covers all 9 topics in a study program even more than this. Learn more about how we make teaching student financial literacy course easy. Join the Smart Money Camp to learn more about money management, setting up budgets, and exploring more about the stock markets. It’s the perfect financial literacy course for high-schoolers to acquire financial knowledge and skills for the future.