Financial Literacy – Learn to Earn The first step for kids to become financially literate is understanding how to “earn”.To become truly financially responsible, you need money to manage. But the concept of “earning” is not only for teens that can get an outside job. Kids as young as four or five can learn to earn.The concept of earning is more than just about money. Earning is about understanding effort and action = reward.You earnRead More
COVID Is Highlighting the Need for Financial Literacy for Kids It is not often that we face a global pandemic.As an international community, we have all had to manage this unexpected and fast-moving turn of events. It has affected so many with job loss, pay cuts, business closures, etc.How many of us were prepared?I saw a stat the other day that almost 50% of adults are $200/month away from insolvency. That is a tough position toRead More
Financial Literacy for Kids, the Stats! I decided to share some stats that I’ve found about financial literacy and youth… You will see why this topic is at the forefront for both teachers and parents around the world. For every stat, I have added the take away learning.Kids start learning money habits by age 7. They form spending and saving habits very young!1 in 2 parents believes financial literacy should start in elementary school. ParentsRead More
A Professional Banker's Secrets for Successfully Incorporating Financial Education Into the Classroom Here are some great ways to resonate with your students on the topic of Financial Literacy… Keep it real! Wherever possible, use real-life examples to illustrate everyday money management. Share stories. The best money learning comes from discussions and experience. Use real financial language. Understanding money vocabulary early helps kids navigate the financial world as adults. Discuss the consequence of money choices. EveryRead More
5 Ways to Teach Your Kids About Money this Halloween! Halloween is soon approaching and many parents overlook this spooky holiday as a perfect time to teach their kids about money! Here are 5 important money lessons to teach your kids this Halloween!Don’t eat all of your Halloween candy at once!The money lesson? Delay gratification.Teaching your kids to spread out their Halloween candy consumption not only saves them from a stomachache and the aftermath ofRead More
Money Perspective from a Fifth Grader Ok, so let me start with some background. I am a banker by profession. I know a lot about the world of retail banking and money management as I worked in the field for many years, pre-family. In my current life, I am a mom to 4 boys between the ages of 10–16, so I also know a thing or two about teaching and guiding kids.One of my kids’Read More
A Lender's Perspective #2 26-year-old Ryan came into my office to talk about a “truck loan”.So I asked him the usual starter question for someone seeking a vehicle loan. I was certainly not expecting his story to unfold as it did. Here is Ryan’s story…He was a super smart kid. He studied hard in high school and got himself into a top-rated University in the Faculty of Engineering. He graduated from that University at theRead More
Financial Literacy (The New Core Subject!) Financial Literacy is as essential as reading, writing, and arithmetic!Like it was yesterday, I can remember the day the lightbulb went on for me about the need for financial literacy in the classroom.I was volunteering in my son’s grade 3 class and the teacher was having a discussion about jobs and the different things people do for a living. Naturally, the kids talked about what they see every day,Read More
A Lender's Perspective #1 I was a personal account manager for a top financial institution for many years. During my time as a banker, I discovered a love of lending. I met many different people and I advised them in many different situations. Although the situations were all unique, many had a common underlying factor… a lack of money management skills. Here is one of those stories…19-year-old Susan came into my office under the pretenseRead More
What is Financial Literacy Anyway? You have heard the term. You know adults need to understand money. But what is financial literacy for kids?To keep it simple, financial literacy for kids means learning good money habits. It is all about education. Like the saying goes… knowledge is power.We need to start focusing our kids on creating responsible money habits. These habits include spending wisely and with insight, practicing smart spending processes, learning savings patience, andRead More