Financial Literacy For Kids

Ages 8-10

These are prime years for teaching the basics of money management. Your kids are gaining a more in-depth understanding of how money works and are still interested in learning from you. During this age range, your kids should be ready for a number of mature financial steps.

Key Money Basics for Ages 8-10

  • Consider small jobs to promote the value of earning money.
  • Require your kids to assume greater financial responsibilities.
  • Focus on saving for longer-term goals.
  • It’s time to open a custodial banking account with your child.
  • Make sure you remind your kids that money is earned by working.

Scroll below to learn more about:

  • Play:  Teaching about money through more advanced play.
  • Peer Pressure:  Setting good examples as peer pressure begins.
  • Spending:  Encouraging more independent purchase decisions.
  • Allowance:  Adjusting your child’s allowance, with additional responsibilities.
  • Earning:  Promoting a work ethic with simple jobs.
  • Saving:  Establishing savings goals, and teaching the importance of saving ahead.
  • Banking:  Setting up a first bank account.
  • Lifestyle:  Establishing sensible expectations about life and money.
  • Role Modeling:  Demonstrating financial responsibility by example.

Are you ready to get serious about your family’s finances?

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Financial advice for kids ages 8-10