How to Teach Children to Think Before Making Financial Decisions

How to Teach Children to Think Before Making Financial Decisions

Financial decision-making starts with play! Each of us has unique strengths and hidden abilities that we can leverage when learning important skills. Thinking critically before making financial decisions is one of these skills that can be developed from a young age.

In this module, you will learn how to effectively guide your child in thinking about their financial choices. You will gain practical tools and methods that will help your children develop their analytical skills and a responsible approach to money.

  • Identifying values – You will learn how to help your child understand what is important to them and how it influences their financial decisions.
  • Analyzing options – You will discover ways to encourage your child to compare different options before deciding to invest or spend money.
  • Anticipating consequences – You will find out how to teach your child to think about the long-term impacts of their financial decisions.
  • Practical exercises – You will gain access to playful activities that will enhance your child's financial skills.
  • Encouraging independence – You will learn how to motivate your child to become responsible and independent in managing their finances.

Conclusion: Don’t wait—try this module to help your child become a better and more thoughtful decision-maker in finance.

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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