Financial thinking for children aged 7 to 9 with a personal kanban as a guide

Financial Thinking for Children Aged 7 to 9 Years with Personal Kanban as a Guide

In today's world, it is important for children to understand the basics of financial thinking from a young age. Learning about money and its management can be fun and interactive, especially when we incorporate the personal kanban method. Personal kanban is a visual system that helps organize tasks and projects, and it can be a great tool for developing children's financial skills. In this blog, we will look at how we can use personal kanban to teach children about finance.

Children aged 7 to 9 are curious and eager to learn, making it an ideal time to introduce basic concepts such as savings, budgeting, and investments. With personal kanban, we can simplify these concepts and make them accessible to children in a playful way.

What is Personal Kanban?

Personal kanban is a technique used to visualize tasks and projects. It consists of two main components: a board and cards. The board is divided into three sections: "To Do," "In Progress," and "Done." The cards represent individual tasks or projects and are moved between sections depending on their current stage.

For children, we can create a simple board on paper or on the walls of their room, and we can make cards from colored paper. This way, we can start working on financial projects.

First Step: Basic Financial Concepts

Before we start with practical activities, it is important for children to understand some basic concepts:

Savings: Money that children set aside for future expenses.
Budget: A plan for allocating money to various expenses.
Investments: Money used to purchase something that may yield profit in the future.

We can retell and explain each of these concepts through games and activities.

Games and Activities for Learning About Finance

Games are a great way to teach children about finance. Here are some ideas:

1. Trading Game

Children can play as merchants, creating their own products (for example, from toys) and selling them for "money" (they can make paper money). This way, they learn about prices, sales, and savings.

2. Family Event Budget

Using personal kanban, we can plan a family event (like a picnic) together with the children. They will need to set a budget for food, transportation, and entertainment. We will help them neatly record this on the board and track how their money remains or decreases.

3. Banking Game

Children can learn about banks and interest through a game where they lend each other "money" and learn about the terms of loans and savings.

Creating a Personal Kanban for Financial Goals

Using personal kanban, we can help children define their financial goals. These goals can vary, from saving for a new toy to saving for a family vacation. Here’s how to do it:

Defining Goals: Together with the children, think about what they want to save for. Write their goals on cards and place them in the "To Do" section.
Tracking Progress: As children start saving, they can add cards to the board that represent how they are doing. For example, if they have saved a certain amount, move the card to the "In Progress" section.
Celebrating Achievements: When children reach their goal, move the card to the "Done" section and celebrate their success. You can give them a small reward or take them on a trip.

Using Technology for Learning About Finance

In today’s digital age, we can also use technology to learn about finance. There are many apps and games focused on financial education. Some of them include:

Fishbank: A game where children learn about investing and money management.
Bankaroo: An app that helps children track savings and budgets.
Green$treets: A game where children learn about eco-friendly investments and saving.

These apps can enhance the learning experience and help children better understand how money works in the real world.

Encouraging Financial Responsibility

It is important to teach children about the responsibility that comes with money. We can achieve this in the following ways:

Discussing Expenses: Talk to children about why it is important to think about what they spend money on.
Teaching Evaluation: Help children compare prices and decide what is important to them.
Rewarding Savings: If children reach their goal, reward them to help them realize that saving pays off.

This way, we will encourage their financial responsibility and help them become better managers of their money.

Conclusion

Personal kanban is a great tool for teaching children about financial thinking. It allows children to visualize their goals and track progress. Through games, activities, and discussions, we can retell important financial concepts to children and help them build healthy financial habits. The sooner we start, the better children will learn to manage money and become responsible adults.

Imagine that you have a magical coin in your hand. If you could use it only once, what would you spend it on?

Select an answer:

I would buy something I have long wished for. I would give it to my parents so they can handle it the best way they can. I would try to exchange it for more coins. I would set it aside for later, in case of an emergency. I would give it to someone who needs it more than I do.

Imagine that you have opened a mysterious chest full of coins. What will you do with them?

Select an answer:

I will divide them among my friends and family. I'll keep them so I'll always have enough. I will come up with a way to multiply them. I will buy a big gift for myself. I will use them for something that will help more people.

If you could choose, what way of earning money would you like the most?

Select an answer:

Receive them regularly for good behavior. Inventing and selling something that people desire. Save your coins and watch them pile up. Play a game where you can win money. Giving useful advice to people and helping them.

If you had the opportunity to create your own banknote, what would be written on it?

Select an answer:

"Happiness is more important than money." "Every coin can be multiplied." "Think ahead, spend wisely." "It doesn't matter the value, but what you do with it." "Money should serve people, not the other way around."

If you could spend money on only one of these things, what would you choose?

Select an answer:

A huge portion of sweets. Something useful that will last a long time. Something I can sell for more money. Something that will help me learn something. Something to make someone else happy.

Imagine that someone gives you five coins every day. What would you do with them?

Select an answer:

Every day, I would buy something small. I would save them for something bigger. I would give a few coins to my friends. I would be looking for a way to breed them. I would use them for something that helps multiple people.

Imagine you have a magical piggy bank that always returns what you put into it. What would you put in it?

Select an answer:

Coins, so that I can pick them later. Cash, so that I always have a backup. Small toys or valuable items. An image of what I want to buy. A list of my dreams that I want to save for.

Imagine that you opened a small shop where you sell something you know how to make. What would you sell?

Select an answer:

Something tasty that people like to eat. Something nice that people can give as a gift. Something useful that people need. Something I can make cheaply and sell for a higher price. Something that helps people and improves their day.

If you could decide what role money plays in life, what would you choose?

Select an answer:

They are for us to buy what we want. They are there for us to take care of them and not lose them. They are a tool we can use to achieve goals. There are things that allow us to do great things. They are just one of the many things that make life better.

Imagine that you have the opportunity to invest money into something that will later bring you more. What would you invest in?

Select an answer:

Into something I can sell for a profit. To learn something new. To create something that helps people. Saving for a big dream. To donating to those in need.

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Financial thinking for children aged 7 to 9 with a personal kanban as a guide

Financial Thinking for Children Aged 7 to 9 Years with Personal Kanban as a Guide

What is Personal Kanban?

First Step: Basic Financial Concepts