“ Resources for Teaching Financial Literacy.” “ Utah’s General Financial Literacy Graduation Requirement: A Program Review,” ( of PDF). Utah Office of the State Auditor, State Reporting System. “ Utah Treasurer Kirt Slaugh Recognizes Students for Winning Spring 2021 Stock Market Game.” For example, the topic of FICO Scores would probably be too advanced for a 4-year-old, but they may understand the concept of borrowing and returning. Consider sitting kids down and teaching them basic concepts. Set aside time to teach the fundamentals.For example, if a child is interested in BMX biking, the parent can bring them to a competition and ask a vendor to explain what they do-most people are usually happy to talk to kids. Help kids expand their horizons by having them talk to people with other jobs, especially ones related to their interests. This explains why so many children want to be teachers or YouTube influencers. Earning income is a crucial part of having good finances, and kids model their career interests on jobs that they’ve been exposed to. Get kids into career conversations related to their interests.Consider having kids put some of their chore money toward household bills as they get older. That way, they learn the connection between labor and income. Rather than buying children toys outright, parents can use a classic technique of having the kids earn money by doing chores. They’re picking up things that we don’t even understand.” You can also let kids listen in on your conversations with bankers, accountants, and other financial professionals. “Kids are sponges,” Shorb said. Whether it’s a shopping trip or paying the bills, you can walk children through the decisions you’re making. Parents or guardians can help children understand how household finances work by engaging them in their own finances.
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