Raising Financially Fit Kids Ages 6 Through 9

Ages 6-9

Now that your military kid is school age, there are some great opportunities to explore the fundamentals of financial education. Here are some tips to teach things like setting goals and saving for them. The "Money Concepts" and "Suggested Activities" below will help kickstart the learning process.

Money Concepts	*Suggested Activities
Introduce an allowance, values, and the concept of saving for future needs, spending money wisely and using it to help others. Introduce budgeting and creating a spending plan. Provide plastic jars (or envelopes) or have your children make their own piggy banks for their allowance — one container for saving, one for spending and one for sharing. Introduce the concept of setting short-term goals for purchases or activities. Explain the difference between wants and needs.	Read story books to help start conversations about personal finances. Ask your local library for titles. Consider helping your child make an investment in a stock in lieu of receiving one extra gift for their birthday or the holidays. With fractional share investing prevalent nowadays, you can invest $20 into whatever stock you want. This could pay off in 10 years. Help your children become savvy shoppers. Show them how the same item may cost more or less at a different store. Have them identify an item they want to purchase and show them how to find the lowest cost on that item. Find ways for your children to share part of their allowance by giving to a community organization, faith community or charity. Help them see the end result of how that money helps others. As a family, write down some short-term goals, such as saving for a family vacation or a new bike. Host a family game night with board games. *Consider online options for these activities when appropriate.

Money Concepts

*Suggested Activities

Introduce an allowance, values, and the concept of saving for future needs, spending money wisely and using it to help others.
Introduce budgeting and creating a spending plan.
Provide plastic jars (or envelopes) or have your children make their own piggy banks for their allowance — one container for saving, one for spending and one for sharing.
Introduce the concept of setting short-term goals for purchases or activities. Explain the difference between wants and needs.

Read story books to help start conversations about personal finances. Ask your local library for titles.
Consider helping your child make an investment in a stock in lieu of receiving one extra gift for their birthday or the holidays. With fractional share investing prevalent nowadays, you can invest $20 into whatever stock you want. This could pay off in 10 years.
Help your children become savvy shoppers. Show them how the same item may cost more or less at a different store. Have them identify an item they want to purchase and show them how to find the lowest cost on that item.
Find ways for your children to share part of their allowance by giving to a community organization, faith community or charity. Help them see the end result of how that money helps others.
As a family, write down some short-term goals, such as saving for a family vacation or a new bike.
Host a family game night with board games.

*Consider online options for these activities when appropriate.

Keep the conversation going and show these videos to your child(ren).

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Ages 6-9

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