Today, I’m excited to introduce Shannon from The Heavy Purse, who’s here to share some money activities for kids. I’ve always believed in teaching children the value of money and providing them with work opportunities from a young age. Shannon is doing a fantastic job with her two daughters and even wrote a book to help other parents do the same at home.
Pauline, someone I admire for her non-traditional ways of earning money, inspired me to teach my girls to view money with curiosity rather than fear. I want them to learn to use money to their advantage by becoming comfortable with handling and making good decisions about it.
As a Certified Financial Planner with over 20 years of experience, I find it concerning how many people lack financial confidence, often because money is rarely discussed at home. Kids usually learn to handle money through trial and error, but it’s time to change that. Here are some money activities to help you get started.
Ages 3-6: Set a Family Sharing Goal
My youngest daughter, Taylor, was initially reluctant to share money, which is common. Since sharing is an important value in our family, we set a family sharing goal by choosing a local animal shelter. Taylor was delighted when she saw how our donation helped the shelter, which made her enjoy sharing. Setting tangible family sharing goals when kids are young helps them experience the joy of giving and prevents them from developing a sense of entitlement.
Ages 6-9: The Grocery Store Game
Grocery stores provide excellent opportunities for teaching kids about money. Involve your kids in meal planning to minimize waste and save money. Give them the weekly grocery budget and let them find coupons to increase savings. Use the saved money for a fun family activity at the end of the month. This teaches budgeting, meal planning, and comparison shopping.
Ages 9-12: Build a Hypothetical Stock Portfolio
Investing can be intimidating, so it’s important to build confidence early. Teach your kids basic investment terms and concepts, such as risk tolerance and different types of investments. Have them create a hypothetical portfolio with familiar companies like Mattel or Disney and track their stock prices. This way, they can learn about market fluctuations and the impact of their investment decisions.
Ages 12-18: Manage Their Clothing Budget
As teens, kids often become more interested in clothes, making it a great time to teach them budgeting. Set a clear budget for clothing and help them figure out how to balance their wants and needs. Allow them to make mistakes and learn from them, which is a valuable part of managing money.
Making Money Conversations Fun and Easy
As a passionate advocate for financial literacy, I’ve found it easy to talk to my girls about money, but I understand that it can be challenging for other parents. To help with this, I’ve written children’s picture books that offer a fun and engaging way to start these important conversations. My latest book, “The Lemonade Stand,” provides an entertaining story to teach kids about saving, spending, and sharing money.
About the Author
Shannon Ryan is a Certified Financial Planner and a dedicated mom, committed to helping parents teach their children simple, value-based principles to guide their money decisions and support their long-term financial well-being.