Children learn how money functions by watching the adults close to them.

Start simple when they are under 2 years old. When they complete a task, they gain a reward. 

Have a candy gumball toy and a small container with pennies in it. The pennies make the toy work. Down rolls the candy ball. (This could be a class on potty training!) Different stages of childhood call for different topics. The child now knows what pennies can buy. You can place five pennies in a pile and set a nickel out alongside a dime. Then, explain the value of each and do the same with four quarters.

Four quarters can be explained as equal to one dollar. But the next step could be with a pizza, cutting it in quarters. You have introduced the value of money. The different shapes of money. The different sizes of money. A dime has more value than a nickel. The introduction of factions. Cutting a pizza or a cake.

Shopping for items on a list when going to the store. This help starts the concept of a budget. Comparison shopping for the best value.

You must make the decision as what you want your child to value. Some parents have the child pay for their own car insurance. Some have them pay for their own automobile. Have a goal to make them self-sufficient.

Keep it fun for the child. Take the Piggy Bank funds to the bank or credit union. Open an account with you as primary. The child will enjoy being with you! It will be a lifelong trip for them to remember especially if they receive a candy from the teller!

Enjoy the following research items.

Here is a list of resources found in a Google search to educate young minds about financial literacy. Many can be found on Amazon or at your local library and bookstore.

CASHFLOW for Kids Board Game
$69.97 The Rich Dad Company.

The Rich Pre-Teen: Fundamental Guide to Financial Literacy
$12.99 William Cross

Foundations in Personal Finance: High School Edition for Homeschool Student Text.
Dave Ramsey’s Store.

I Got Bank: What My Granddad Taught Me About Money.
Teri Williams.

The Wealth Choice: Success Secrets of Black Millionaires.
Dennis Kimbro with The Napoleon Hill Foundations.

The 21-Day Financial Fast, Your Path to Financial Peace & Freedom.
Michelle Singletary.

It All Starts with a Budget – The Building Blocks to Build a Better Financial Future.
Kemberley Washington.

If you thought that learning about financial literacy as a kid can’t be fun, you were wrong! These apps are living proof that you only have to find the right angle to approach this important topic.


For kids ages 7+

iAllowance is the only thing you need to manage your child’s finances, chores and rewards.

Thrive ‘n’ Shine

For all ages

Thrive ‘n’ Shine is a cutting-edge, effective, and fun approach to teaching personal finance. With the option of using downloadable curriculum, this engaging simulation and strategy game enables students to learn and practice positive financial behaviors that are aligned with national standards.


For kids ages 6+

PiggyBot is a great tool to visualize and track kids’ allowances in three different categories: Spend-It, Share-It and Save-It.


For kids ages 7+

The inspiration behind Bankaroo is 11-year-old Danielle Gafni, an honor student who was looking for an easy way to track her pocket money.

Savings Spree

For kids ages 7+

During practice sessions, kids learn about earning, spending and saving money. They also gain knowledge about short- or long-term savings, as well as the risk associated with impulse purchases.

Celebrity Calamity

For kids ages 7+

Celebrity Calamity features celebrities and their spending habits. As the player, you manage the finances of your favorite celebrities and prevent them from spending more money than they have.

FamZoo Family Finance

For kids ages 13+

The goal of FamZoo is to understand how money works, how to budget and how to save. The app has been featured in The Wall Street Journal, The New York Times and Money magazine, among other publications. It allows older kids to take more responsibility for their own personal (real-life) spending.