Free financial literacy for teenagers
Financial literacy is a fundamental life tool. Teaching our kids about financial management from a young age should be a high priority as this is now recognised as an important stepping stone to financial success and can be key to your child’s financial wellbeing.
Research shows that financial wellbeing is higher for people whose parents provided them with advice on money matters when they were growing up. We know it’s one thing to explain a financial concept to young people but demonstrating it with real life behaviours can really help them understand it better.
The Financial Basics Foundation is a national financial literacy charity which aims to deliver to young Australians, between the ages of 12 and 24 years, the basics of effective financial management.
They have developed a toolkit of practical activities, fact sheets, tools and tips designed to help you build the financial capability of your children.
To access the Foundation’s educational resources, head to: https://financialbasics.org.au/parent-hub/
The complimentary resources include:
- MoneyIQ videos – Introduce your kids to Mon and her cyber buddy IQ who explain the financial basics teens need to know to get themselves started on managing their own money.
- Financial Rules of Thumb – This resource focuses on simple and practical money management behaviours which can be developed within the family.
- Financial Fact Sheets: These financial fact sheets can be used as a discussion starter with family members and friends — for self-reflection to check how much you already know and where to find more information.
- The Spending Checklist: Young people are more likely to adopt good financial behaviours by ‘doing’. This resource outlines five simple rules for conscious spending which can be actioned immediately.
So if you’re looking for resources to help you as a parent, check them out.