Talking about finances with your family is a great way to make financial literacy a way of life, for life.
Keeping a dialogue about money going with your family can be tough, but in the long run it can build family connection and create a strong family financial foundation.
Here are some tips to talk about money:
- Be open and honest.
- Talk to your kids early and often about money.
- Make time to talk and make it fun.
- Look for teachable moments.
- Set family goals with your kids.
Check out safecu.org/community/events to register for the next live webinar, “Family Money Matters: Simple conversation tips to talk about money” on May 16!
In the meantime, here are some activities to help make learning financial literacy fun!
Price is Right, Family Fun Night
Family members write about an outing they'd like to go on. Have each family member guess how much that outing would be. Research together how much that would cost. Whoever is the closest without going over, wins!
Chore Store, Ages 4-12
This game gives your kids a chance to earn and spend as they see fit.
Create a “store” of items that can be purchased that are in your family's interests. For example: their favorite trading cards, dollar store goodies, favorite candies or even increments of screen time. Whatever works for your family!
Each item in your chore store gets a price that you set.
Create a list of chores where each chore earns a certain amount of fake money, and track the money earned as the kids perform those duties.
They get to decide how to spend their chore store money as they see fit!
Would You Rather, Ages 8-99
Quiz your family with silly questions about money. This game is easily tailored to ages and levels of financial literacy. Here are some sample questions:
Would you rather...
...have $5 today or $25 at the end of the month?
...have 10 quarters or 2, $1 bills?
...work as a server for $18 an hour with no tips? Or work as a server for $10.50/hour with tips.
Find more ways to sharpen your financial literacy skills with SAFE.
Introduce your kids to banking with SAFE’s Young Member and Kids Club Savings accounts.