Monday, September 24th, 2012
Do you know about Money As You Grow, the new financial literacy site for kids? If you don’t, head over to MoneyAsYouGrow.org, which was developed by the President’s Advisory Council on Financial Capability and launched by the White House in May.
The site offers “20 things kids need to know to live financially smart lives,” which are 20 money milestones kids should learn; there are four milestones divided in five age groups (3-5, 6-10, 11-13, 14-18, and 18+) with age-appropriate activities. For example, one money milestone for preschoolers is to learn the “difference between things you want and things you need.” To help with this money lesson, a suggested activity is to go shopping with kids and point out basic essentials such as food and clothing compared to optional wish-list items.
Parents can visit each section “to start a dialogue about money and teach kids important lessons about saving, making choices, and avoiding debt.” There are also posters with milestones and activities that can help parents track their kids’ knowledge of money and finances.
Read more about Money As You Grow at Mint.com — Beth Kobliner, a personal finance commentator, journalist, and member of the Financial Capability council, shares her involvement in creating the site.