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Originally posted on: https://haickmortgages.ca/top-10-fun-activities-to-teach-kids-about-money-for-canadians/
Teaching kids about money early sets them up for lifelong financial success. But how can you make financial literacy fun? These ten simple, engaging activities will help your kids learn the basics of money management, saving, and budgeting, all while having fun!
Whether you’re in Ontario or across Canada, these activities use Canadian resources, local examples, and downloadable worksheets tailored to your needs. Let’s get started!
Top 10 Fun Activities to Teach Kids About Money (For Canadians)
- Play “Store” at Home
Set up a mini grocery or toy store in your living room. Use play money (or real coins!) and price out items from your pantry or toy box. Have your kids “shop” for items within a set budget, helping them practice decision-making and understand the value of money.
- Savings Jar Challenge
Create three jars for your child: Save, Spend, and Share. Each time they receive money, whether from an allowance or a gift, they divide it between the jars. The “Save” jar is for future goals, the “Spend” jar is for immediate desires, and the “Share” jar can be donated to charity. This teaches kids how to prioritize and balance financial responsibilities.
- Coin Identification Game
Help your younger kids get familiar with Canadian currency by using real coins to practice identification. You can even turn this into a matching game where kids pair the coins with their correct values. This simple exercise introduces them to the concept of money while improving their math skills.
- DIY Piggy Bank Craft
Make a piggy bank using a recycled jar or bottle, and let your child decorate it. Challenge them to save for a particular goal, like a new toy, to teach the concept of long-term savings. This activity combines creativity with financial lessons.
- Family Budget Meeting
Involve your kids in a simplified version of your family budget. Once a month, go over income, bills, and savings goals together. Explain how budgeting helps plan for vacations or big purchases. This introduces them to real-life money management in a practical way.
- Allowance and Chores
Create a chore chart where your kids can earn “money” for completing tasks around the house. This teaches them the connection between work and earnings, while helping them learn how to manage and save what they earn.
- Monopoly or The Game of Life
These classic board games offer hands-on lessons in financial decision-making. Monopoly teaches kids about saving, spending, and investing, while The Game of Life introduces them to broader concepts like paying taxes, buying homes, and raising familie perfect for older kids.
- Plan a Vacation Budget
Let your child help plan an imaginary family vacation with a set budget. They’ll decide where to stay, what activities to do, and how much to spend on food. This teaches them how to make choices within a budget and the importance of planning for different costs.
- Shop Smart Challenge
Take your child grocery shopping and give them a small budget to manage. Have them make decisions about what to buy, helping them learn the value of comparison shopping and making smart spending choices. This real-life experience is an easy way to reinforce money concepts.
- Start a Lemonade Stand
A classic summer activity! Help your child set up a lemonade stand to teach them about costs, pricing, and profit. They can track their earnings and expenses, learning firsthand about entrepreneurship and budgeting.
Multimedia Resource: Use PiggyBot, a free app for tracking allowance and savings, to manage their lemonade stand earnings and see the results.
Downloadable Resources for Financial Literacy in Canada
Here are some great resources to help your kids learn about money management:
- Clifton Corbin’s Financial Literacy Workbook – This Canadian-specific workbook teaches kids to recognize coins, count money, and start budgeting .
- CPA Canada Money Worksheets – Great resources for budgeting, goal-setting, and cash flow tracking.
- KidsMoney.org Budgeting Worksheets – Simple printable sheets for kids to manage saving, spending, and sharing.
Multimedia Resources
- Interactive Apps: Try Allowance & Chores Bot to track earnings and savings digitally.
- Games: Online budgeting games like Money Magic teach kids financial decisions in a fun way.
- Videos: Watch Mastering Financial Literacy for Kids: Fun and Easy Money Lessons on YouTube for an engaging, kid-friendly introduction to budgeting and saving.
More Financial Literacy Resources for Canadians
Financial literacy is becoming increasingly important in Ontario schools. The Ontario government recently introduced financial literacy as a high school graduation requirement, ensuring that students will learn about managing debt, saving, and budgeting before they graduate.
For parents looking to align these activities with the educational curriculum, check out Ontario’s Financial Literacy Curriculum and explore MoneySense’s Guide to Financial Literacy Education in Ontario and for additional insights (YouTube).
Additional Help for Parents
As a mortgage broker based in Ontario, I understand how important financial literacy is for the whole family, especially when it comes to budgeting for a home. That’s why I offer free personalized budget planning to all my mortgage clients. Whether you’re looking to refinance, buy your first home, or simply plan for the future, I can help create a tailored financial plan that works for you and your family.
Ready to Teach Your Kids About Money? Start Today!
Download our free budgeting worksheets or book a call with me to discuss how I can help with your family’s financial goals and home-buying journey. Together, we can create a solid financial foundation for the future!
By incorporating these activities, you’re helping your kids build a foundation for smart financial choices in the future. Stay tuned for more blog posts on financial literacy for kids and teens, including how to teach teens about budgeting and setting up a family savings plan!
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Website: https://haickmortgages.ca/
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