Did you know the new Ontario math curriculum for students in Grades 1 to 8 now includes financial literacy as one of the key strands? For additional details, please visit the Ontario Math Curriculum.
Here are some activities and tips to teach your child about managing money:
- Some of the best ways to learn about managing money begin at home. For example, looking at flyers and talking about creating a grocery shopping list together with your child. Then, having a further conversation about needs and wants can be a way to have children think about how they can use their money wisely. This can further lead into a deeper conversation about spending, budgeting, saving and making good choices.
- For children in the higher grades, ways to teach financial literacy could begin with having conversations such as saving for post-secondary education (i.e., RESPs), long-term financial planning, creating a spreadsheet to keep track of their spendings, how interest rates can impact savings
- Shopping with your child is a great way to have conversations about how to spend money wisely
Some games/activities for children and teens to practice their financial literacy skills include the following:
- Bank of Canada Literacy Activities for Kids- Offers a wide variety activities for parents to have conversations with their child about saving money, using money responsibly
- Desjardins Financial Literacy Tips - Activities and tips for teens about using money
- Financial Literacy Activities for the Family - Examples of being financially responsible in everyday situations
Learning about financial literacy is an exciting journey!
This list features a wide range of resources for all ages consisting of financial literacy tips/activities to help you get started on reaching your financial goals!