If you’re a parent of a school-aged child, you probably field the occasional question about money. Kids may wonder out loud about the cost of a desired new toy or want to know how much to charge for a glass of lemonade. As they get older and gain independence, those simple questions can get more challenging to answer. Whether they just started kindergarten or the first year of high school, parents can help their children learn money basics and acheive financial literacy at any age. Fortunately, there are plenty of free resources to help prepare your family for a financially sound future.
In today’s digital age, games and learning tools are only a click away; fortunately for parents, many of these tools are disguised as games themselves. Peter Pig’s Money Counter is one such resource, a free app developed by Visa. Available for download on both Apple and Android devices, this app teaches young children about money through different games that cover saving, spending and coin counting.
[Read: Teach Your Children These 5 Crucial Personal Finance Lessons.]
For parents who pay their children an allowance in exchange for chores, the app PiggyBot is an easy digital solution to manage money and teach financial responsibility. This free app (available on Apple devices) tracks allowances and teaches kids to spend, share and save. Parents can even manage multiple accounts for more than one child, and kids can set goals and watch their savings grow. It not only educates about managing your money, but introduces the concept of sharing with others.
The website Practical Money Skills offers plenty of resources for older children to learn more about money. Kids can read a free Marvel comic featuring famed superheroes The Avengers that is all about saving money while saving the day. There is even a free printable “Budget Blaster” worksheet for older children to keep track of the money they earn, their allowance and a budget for expenses. Other fun opportunities include financial football and soccer and educational games such as “Road Trip to Savings” and “Countdown to Retirement.”
At the MyMoney.gov website, there is plenty of free information for youth of all ages. Younger children can learn about currency and money symbols with a fun memory game, or follow along with a guide to begin coin collecting. High school-aged kids can start learning about Social Security and taxes, how to be a smart shopper, what options lay ahead when paying for a secondary education and a lot more.
[See: Dear Younger Me: 12 Financial Truths We Wish We Knew Earlier.]
The Consumer Financial Protection Bureau offers free educational tools for parents and caregivers. They created a free “Money as You Grow” book club with a downloadable guide for those interested in starting a group in their community. The club features discussion guides and fun, interesting books for children to learn about money management. You can also find plenty of other free printables to help kids learn important everyday money lessons, such as how to read a receipt, what is on a pay stub and how the things they see in their community every day — such as a library, public bus or playground — get funding.
Outside the vast resources of the Internet, you may find in-person opportunities for your child to learn about the responsibilities of money. Check out the free classes offered at your local library or after-school programs. While you’re at the library, check out a book on the subject. “Make Your Kid a Money Genius (Even If You’re Not)” by personal finance expert Beth Kobliner guides parents with children of all ages. You can also talk to a representative at your banking institution to find out if it has any programs available for kids. Many banks offer kids saving accounts, which can operate as both a teaching tool for your child as well as an opportunity to start putting money away early. Just do your research to see if the account charges a monthly service fee or requires a minimum opening deposit.
[Read: How to Raise Financially Literate Kids.]
Answering your children’s questions about money can be overwhelming, but when armed with the right tools (and a few helpful superhero characters) you’ll be well on your way to open and honest discussions. Games and comic books can introduce financial literacy to younger kids in a fun and memorable way, which can lead to educated young adults ready to take on more challenging money concepts. As a bonus, all this talk about smart spending and saving might brush up your money habits, too!
More from U.S. News
Books for Every Stage of Your Financial Life
Decode These 10 Vexing Financial Terms
8 Big Budgeting Blunders — and How to Fix Them
Free Resources to Teach Your Kids About Money originally appeared on usnews.com
