Teaching about Money to Children: Setting Financial Goals with Your Kids

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Table Of Contents

Curriculum Overview: Teaching about Money to Children- Setting Financial Goals with Your Kids
Target Age Group: 6-12 years
Month 1: Understanding Money and Its Value
Month 2: The Concept of Savings and Setting Financial Goals
Month 3: Planning for Purchases
Month 4: Achieving Financial Goals and Reflecting on the Process
Additional Resources
Evaluation

This Curriculum will introduce children to the concepts of financial planning, savings, and the understanding of money’s value over time. Below is an outline of the curriculum, including resources, activities, lesson plans, and worksheets designed to engage children and foster a practical understanding of financial goals.:-

Curriculum Overview: Teaching about Money to Children- Setting Financial Goals with Your Kids

Target Age Group: 6-12 years

Objective: To educate children on the importance of setting financial goals, understanding the value of money, saving over time, and planning for purchases.

Duration: 4 Months

Month 1: Understanding Money and Its Value

Objective: Introduce the concept of money, its uses, and its value.

Activity: “Money Identification” – Use real or play money to teach children to identify different denominations of coins and bills.
Discussion: Talk about how money is earned and the many ways it can be used (spending, saving, donating).
Resource: “What is Money?” – A simple, illustrated guide or video that explains the concept of money.
Worksheet: “Money Match” – Matching activities where children pair coins and bills with their corresponding values.

Month 2: The Concept of Savings and Setting Financial Goals

Objective: Teach the importance of saving money and how to set simple financial goals.

Activity: “My First Savings Goal” – Children decide on a small item they want to save for and calculate how much money they need to save.
Discussion: Explore the idea of “wants” vs. “needs” and how saving for something requires patience and discipline.
Resource: Storytime with “A Chair for My Mother” by Vera B. Williams, which emphasizes saving for a big goal.
Worksheet: “Savings Goal Planner” – A sheet where kids can outline their savings goal, the total cost, and plan how much they need to save each week.

Month 3: Planning for Purchases

Objective: Understand how to plan and save for future purchases.

Activity: “Price Tag Hunt” – An activity where children compare prices of their desired item at different stores or online to find the best deal.
Discussion: Discuss the importance of comparison shopping and how finding the best price can help save money.
Resource: Interactive game or app that simulates shopping and budgeting, like “Peter Pig’s Money Counter”.
Worksheet: “Purchase Planning” – A worksheet where children list the item they want to buy, its price at different stores, and decide the best place to buy it.

Month 4: Achieving Financial Goals and Reflecting on the Process

Objective: Learn about the satisfaction of achieving a financial goal and the value of reflecting on the saving process.

Activity: “Goal Celebration” – Celebrate the children who have reached their savings goal and share their experiences.
Discussion: Reflect on what was learned during the saving process, including any challenges faced and how they were overcome.
Resource: “The Berenstain Bears’ Trouble with Money” by Stan and Jan Berenstain to discuss managing money wisely.
Worksheet: “My Savings Journey” – A reflective worksheet where children can write or draw about their experience of saving for and achieving their goal.

Additional Resources

Financial Peace Junior Kit by Dave Ramsey: Provides tools and resources to teach kids about money through stories and activities.
Junior Achievement Programs: Offers programs that teach financial literacy, entrepreneurship, and work readiness through experiential learning.

Evaluation

Parental Feedback:

Gather feedback from parents on any changes in their child’s understanding and behavior towards money.

Self-Assessment for Kids:

Allow children to express how they feel about money, saving, and what they have learned through drawings or short essays.

This curriculum lays a foundational understanding of financial literacy among children, emphasizing the importance of setting and achieving financial goals. Through interactive activities, engaging discussions, and practical exercises, children will learn the value of money, the significance of saving, and the joy of achieving their financial goals.

Curriculum Developer, Teacher Trainer, and Researcher

Rewati Raman Vishewar

Rewati Raman Vishewar, M.Ed., is an experienced education professional with over 23 years of experience in the education sector. He has worked for private education companies as well as in the NGO/Government sector. His active area of work is focused on preschool to primary grades, with a strong emphasis on curriculum development, teacher training, assessment, and research. Several Universities (Delhi University, Jamia Millia Islamia, MS University, Ambedkar University Delhi et al.) have accepted his research to be presented at Conferences. In his recent research, he studied the efficacy of assessment and feedback mechanisms in early childhood care and education (ECCE) across India for the Square Panda Foundation (submitted to the Ministry of Women & Child Development, India). He also reviewed the ECCE curriculum of Bodh Shiksha Samiti, the adolescent curriculum (ECCE to primary grades) of Doosra Dashak, and the ICDS curriculum of all States of India. His review of ICDS Curriculum of Bihar was accepted for presentation at the ECCE Conference of Ambedkar University Delhi. Raman has provided curriculum development, teacher training, and assessment services to premium private preschools. He has also conducted a six-month research project (unpublished) into a multi-grade, multi-level curriculum by conducting classes at SDMC Primary (Govt.) School, where children from underprivileged/low socio-economic families study. With his extensive experience and expertise, Raman is committed to making a positive impact in the education sector by improving curriculum, training teachers, and conducting research to ensure the best outcomes for students.

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