Learning at home is the starting point for teaching children about money. These eleven key personal concepts should be explained and experienced by children as they are growing up:
- Saving
- Budget
- Loan
- Debt
- Interest
- Credit card
- Taxes
- Investment
- Stock
- 401(k)
- Credit score
The age at which these concepts are taught will vary.
For additional information on teaching vital personal finance concepts to children, click here.
Teaching Suggestions
- Have students describe how they learned about these concepts.
- Have students conduct a survey among young consumers to determine their knowledge of these topics.
Discussion Questions
- What additional personal finance concepts might be added to this list?
- What actions might parents take to teach these concepts to their children?
Melissa Hart
Focus on Personal Finance, 7e 