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How To Make Finance Fun For Kids

Finance is a scary word. In fact it’s so scary that most schools leave financial literacy courses out of their curriculum. They consider finance too scary for kids because chances are, the teachers themselves are also afraid of it. 


Financial literacy can be intimidating for anyone. In our society we rarely discuss money or finances. Talking about money is taboo. People don’t like to mention their salaries or how much they paid for a new car. They don’t like to discuss difficult topics such as mortgages, RRSPs, or P/E ratios. Not only are they intimidated, but the topics make for terrible dinner conversation.


But when children have conversations about finance they build confidence. From a young age you and your child can discuss the tools they need to become financially free. As soon as you start talking with your children about personal finance, saving their money, and investing for the future, you remove any fears they may have. 


In a study conducted by the Financial Consumer Agency of Canada, children and teens who spoke with their parents about finance at least once per week scored 33% higher in financial literacy than those who had no conversations with their parents. 


A great way to open up dialogue is at the grocery store. Talk about spending, budgeting, finding deals, comparing prices. Discuss why you are buying certain items over others and why you are saving. The earlier you start discussing finance, the easier it is to instil good habits in your kids. 


Discussing finance is not enough for most kids. Kids want to have fun, and finance can sometimes be the opposite of fun. So get creative! Turn finance into a game. Give kids a piggy bank at a young age and reward them when it’s full. Play board games like Monopoly and Life. Go coupon hunting together to find the best deals.


With teens, be open about your finances. Discuss mortgages, RRSPs, TFSAs, and the importance of saving for life’s major expenses. This is also a perfect time to introduce teens to the world’s largest and most competitive game: The Stock Market. 

 

If your teen has a love for Nike shoes, maybe it’s time to show them how to be more than just a customer. Let them purchase a few shares and own a piece of their favourite company. Have them check up on their stocks weekly. Explain the external factors that impact the stock market. 


We know that not all parents are comfortable with their own financial literacy. As we mentioned, it is a difficult subject for everyone. That’s where Explorer Hop can help! We are experts in making finance fun for kids and teens around the world! 


If I told you that in two short summer months you could double your salary while building skills, socializing, and having fun in a virtual environment, I think you’d be curious. That is exactly the opportunity that Explorer Hop offers to your kids through our Camp Millionaire program. 


While most summer camps focus on fostering social skills, Camp Millionaire teaches students the value of saving money and investing in their future. These are skills your kids will use throughout their lives.


To learn more about Camp Millionaire and start investing in your child’s future now, visit: https://explorerhop.com/collections/camp-millionaire

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