Want to teach your kids money planning? Here are some tips to help you get started.

CFPB offers tips for money planning conversations with children

SAN ANTONIOEditor’s Note: This “Money: It’s Personal” story is written using fictional characters to help younger audiences understand the money planning concept. This story is also part of a back-to-school mini-series that will be airing on GMSA at 9 on Tuesdays until Aug. 11.

Tony is 4, and his big sister, Jessica, is 12. They’re currently learning about money planning with their mother.

The Consumer Financial Protection Bureau is offering families like their’s some tips to help them discuss money planning.

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The CFPB says some games that may not seem like they’re related to money management can help young children like Tony form a necessary foundation to build the skills needed for the future.

Tony’s mother can play games with him, like musical chairs or Simon Says, to help with quick decision-making.

Games like 20 Questions or I-Spy can help Tony with thinking creatively and exercising his memory.

Tony’s mom can also use props, like toy money, and come up with scenarios, like going shopping, to help him learn money planning at a young age.

Since Jessica is a little older, she can play a game like Chinese Checkers to focus on planning. She and her mom can also plan on making a shopping list before heading to the grocery store and discuss sticking to that list.

Jessica’s mom can also talk to her about how money is distributed to pay for services like the fire department and the local library.

For more resources from the CFPB on how to discuss money planning with young children, click here. For tips for school-aged children, click here.

First Story: Want to teach your kids to save? Here are some tips to help you get started.


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