It’s no secret that children benefit from learning how to manage money. Here are some ways to share some valuable money lessons at home for different age groups:

Ages 2-3:

Teach your youngsters the names of different coins by sorting and counting them, and talking about the color, shape and size.^{1, 2} Another fun activity for this age group is setting up a play store and letting them “buy” goods with pretend money.

Ages 4-5:

Create an imaginary restaurant at home and ask them to pay for the bill. Or let them be the waiter/waitress and bring you the check, and then make change as a cashier.¹

Ages 6-8:

Coin collecting is a wonderful activity for this age group. Check out the United States Mint Web website for videos, games and activities.¹ If your child is earning an allowance, this is an age when you can help them open their own savings account at a bank or set up a savings jar or envelope somewhere in your home.²

Ages 9-12:

Children this age can certainly learn to budget for the items they want versus the items they need. Letting your child sit in on a family budget meeting could be a great learning experience! This is also a good age to learn money skills through classic board games like Monopoly and Life.

Ages 13-15:

Kids this age can learn the value of earning money through small jobs like babysitting, raking leaves, or other household chores.²

1. Parents.com, “Teaching Kids About Money: An Age-by-Age Guide,” Aug. 22, 2019 2. Fatherly.com, “Teaching Kids About Money: The Financial Lessons Parents Should Teach Children at Every Age,” August 16, 2019