A milestone in parenting is having “the talk” with our children, but often the “financial talk” isn’t on our radars. As parents, we try to talk to our children about making the right choices when it comes to smoking, drinking, and dating, but what about making wise decisions when it comes to money, spending, saving, and credit?
We all want our kids to be financially savvy by the time they reach adulthood, so helping them understand basic financial principles, like evaluating wants versus needs and budgeting, when they’re young starts them on a path to success.
Ohio’s credit unions have collaborated to help provide teaching materials tailored to parents and educators. Kids — and parents— can learn through videos, games, reading recommendations, budget worksheets, and more.
Check out these resources fueled by your local credit union:
Thrive By Five (www.cuna.org/thrivebyfive) with activity pages in Spanish and English, this online resource provides simple projects to help teach your preschooler about spending and saving money.
Money&Stuff (www.MoneyAndStuff.info) is a free website with engaging lesson plans to teach financial education using items found around the home. The lessons are arranged by age group, incorporate fun, and allow parents to choose a variety of challenging education options based on their child’s skill level.
Biz Kid$ (www.bizkids.com) is an Emmy-Award winning television show for young adults that airs nationally on PBS. Each Biz Kid$ episode features kids exploring how to make and manage money by introducing concepts of financial literacy and entrepreneurship. To keep young viewers engaged, the series includes a fast-paced mix of direct education delivered by young actors, sketch comedies, animation, and stories featuring real-life young entrepreneurs. The show is complemented by a resource-rich website, lesson plans, outreach activities, and a monthly electronic newsletter.
Berenstain Bears Financial Literacy Program (www.facebook.com/TheBerenstainBearsFinancialLiteracyProgram) while only available through your local credit union, this book series provides innovative and engaging financial education through a parent-trusted and kid-adored source, while explaining the benefits of credit union membership.
There is much to be done to empower our kids to become financially-responsible adults, and the sooner we begin talking to them about basic financial concepts, thegreater their advantage. Thanks to Ohio’s credit unions and these resources and tools they provide, the “money talk” is now the easiest of all the talks to have with your kids.
To learn more about credit unions in your community and what financial literacy programs they offer, visit www.aSmarterChoice.org and find a credit union in your area.