Teaching children about money

Posted in: Finance Last updated: 13 Nov 2011

Teaching children about money and how to understand its value is an important part of equipping them with some core skills for life. This guide will give advice on when to start teaching good money habits, and will give information on learning resources that may be helpful.

When to start

As parents we all know that balancing the family budget is as much a discipline of self as it is a mathematical problem. Not only do we have to prioritise any essential spending over luxuries but when you add children into the equation there's the constant pleading of 'can I have...' to consider.

Teaching good money habits at home is the beginning of helping your child to realise that all the things they see around them have a value, and that the money needed to pay for them is hard earned.

We can recommend a few sites that will help parents teach their children money basics through engaging online games.

Learning resources

Fun to Save - Association of Financial Mutuals

Money savings games for children aged 4 - 7 years old, encouraging them to earn points, save them up and then spend them to get colouring in sheets, online stickers and desktop wallpapers.

Go to Fun to Save »

Savings Squad - Association of Financial Mutuals

A comprehensive site with lots to do with children between the ages of 7 - 11, children create an avatar to explore an online world where parents can access resources and worksheets to help support learning.

Go to Savings Squad »

BBC Bitesize

The learning resources at BBC Bitesize are categorised into Keystage 1 and Keystage 2 numeracy and literacy games.

Go to BBC Bitesize KS1 - Check out the 'Igloo Shopping' in the maths section »

Shop 'til you drop - Channel 4

Try to spend as much as you can to get as close to your budget as possible. The aim is to complete the game with the least amount of change. You'll need to have Shockwave on your computer to play this one.

Play 'Shop 'til you drop' »

Family Learning

The simple click, drag and drop games on the Family Learning website are aimed at Key Stage 1. Loads of simple games such as filling a moneybox to having a budget in a sweetshop.

Go to Familylearning.org.uk/money_games »

Happy learning!

Note: Whilst we take care to ensure Hub content is accurate at the time of publication, individual circumstances can differ so please don’t rely on it when making financial decisions. OneFamily do not provide advice so it may be worth speaking to an independent financial advisor about your own circumstances.