What is Financial Literacy?

Financial Literacy is the ability to understand and effectively use various financial skills. Skills like budgeting, managing, and investing money are important to have, because they optimize your abilities to accomplish your financial goals.

Studies show that many children aren’t receiving financial education, in informal or formal spaces (i.e. school or home). This leads them to having a greater chance of being victims of high levels of debt, predatory lending practices, and poor money management.

Teaching your children early about the following topics can help them grow into financially literate adults:

  • Earning
  • Saving
  • Planning

If you are asking where do I get started here’s some activities for each of those topics that you can do with you kids.