Why is financial literacy important?

Why is financial literacy important?

Children need to understand the value of money from a young age.

Financial literacy education is essential in today's world. Teach your children how to manage their money so they become responsible adults. Help them develop critical thinking when making financial decisions and teach them how to budget, save, and invest. Mark their future as financially independent and successful from an early age. Gaining financial skills can be fun and educational through games and books that motivate them to have a responsible approach to money.

Interested in this topic? Read more: How Reading and Critical Thinking Can Build Money Skills in Children Ages 7 to 9 Want to find out where you stand personally? Take a short test at the end of the page and gain a better understanding.

How does this apply to you? Choose the answers that describe you best:

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

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

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

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

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

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

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

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

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

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

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7 – 9 years: Basic financial thinking

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