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Every Kid Deserves the Chance to Learn and Grow
Pair these FREE educator-developed printable activities with your favorite Encantos videos, books, and songs to help your child develop critical reading, writing, math, and social emotional learning skills. Plus, check out our Tips for Grown-ups to help reinforce the teachable moments in each lesson.
Financial literacy helps kids understand the importance of money & how to spend and save wisely. Get tips on how to build your child’s skills from a young age.
A Father took his two young kids to the store to buy paint for a fun family art project. When they got to the paint aisle, they saw all kinds of options for buying paint: individual bottles, packs of 4, packs of 12, packs of 20, and so on. Rather than just making the decision on his own, the dad asked his kids to think about the different options and their prices and together they calculated which option was the most cost-effective for their needs. This is an example of how parents can start building their child’s financial literacy at a young age by taking advantage of teachable moments in everyday life.
Financial literacy is having the knowledge and skills to make informed money management decisions. It allows children to fully understand the importance of money, how to spend and save wisely, and teaches valuable life lessons, like the difference between want and need. Helping children develop healthy money habits early on makes them better equipped to avoid financial issues in the future.
David Whitebread and Sue Bingham, Ph.D, behavior experts at the University of Cambridge, reviewed previously conducted studies to determine how children learn about money. Their research concluded that many of our financial habits are set by age 7. This is not to say that it’s too late for children over the age of 7 to build financial literacy skills...many people don’t learn about financial literacy until they reach adulthood. Still, the study shows us that the earlier children are exposed to good money habits, the better able they are to build the requisite knowledge and skills to be able to handle it well: to budget, save, pay taxes, invest, and build wealth. People who understand that money is finite, and are experienced with planning, budgeting, and investing are more likely to maintain financial stability throughout their lifetime. And after all, isn’t that what we want for our children?
Here are 3 ways to help your child build financial literacy:
How the Encantos app can help kids develop financial literacy:
The Encantos app teaches children the new fundamentals that are essential for them to thrive in this ever changing world. In the storyworld Tyrus’ Kids, financial literacy skills are reimagined through characters and stories that kids can relate to. Look for more financial literacy content in the coming months.