Global Money Week

Teaching kids about money

Teaching kids about money is a great investment in their future. In a world where we use credit cards and online shopping to buy the things we need, and internet banking to move our money around, it can be hard for young people to see the relationship between earning, spending and saving.

Parents and teachers play a vital role in helping kids understand the value of money and how to manage it. Global Money Week (12 - 18 March 2018) is the perfect time to use ASIC's MoneySmart resources to help you talk to the kids in your life about money matters.

What is Global Money Week?

Global Money Week is an international campaign that promotes awareness of money and the importance of financial capability. Every year schools, organisations and communities around the world take action to give people the tools they need to shape their financial future.

The theme of this year's campaign is 'Money Matters Matter'. Visit the Global Money Week website for more information.

Teach your kids about money

One way your kids learn about money is by watching you manage the family's finances. When they see you withdraw money from the ATM, pay the bills, or buy the groceries, do they understand where the money comes from and why you make choices about money the way you do?

There are opportunities to talk to your kids about money when situations arise in everyday family life, for example:

  • At the ATM - explain where the money comes from and how you've earned it. Help them understand it doesn't just come out of a hole in the wall.
  • At the supermarket - prepare a list, research prices and show them how you can save money if you shop around.
  • Doing the family budget together - involving your kids in budgeting can help them learn the difference between needs and wants, costs and spending. Our budget planner or simple money manager are great tools you can use.
  • Earning their own money - pocket money or a part-time job can help young people learn responsibility and the importance of setting financial goals. Our page on teaching kids about money has more information.
  • Mobile phones - discuss options for mobile phone plans and checking and managing data usage to control costs.

The earlier kids learn about how money works in the real world, the more likely they will be able to make informed and wise financial decisions later in life.

Video: Kids talk money

Video of kids talking money

As part of Global Money Week we asked some kids what they know about money and this is what they said.

Visit our teaching your kids about money page for more ideas on how you can help your kids to be good money managers. You could also view David and Libby Koch's Raising MoneySmart Kids video series.

Resources for teachers

Our MoneySmart Teaching program has a range of Australian Curriculum aligned tools and resources for teachers to help young Australians become confident and informed consumers.

Here are some examples of MoneySmart Teaching resources that teachers can use during Global Money Week to support teaching and learning in their classroom:

Primary resources

  • Bertie's socks - students learn about Australian notes and coins and that money is a finite resource in the context of a shopping trip. This resource is supported by a digibook.
  • Fun day out - students learn the difference between needs and wants and how to stick to a budget by organising a 'day out' for their class.
  • The cost of cats, dogs and …snakes - students research the cost of pet ownership by following characters and helping them save, spend, plan, budget and make consumer choices.

Secondary resources

  • Could I live smaller? - students investigate the influences and impact of a consumer society on teenagers' choices and decision-making.
  • ASIC's First Business online module - designed to help students decide whether starting a small business is right for them.
  • MoneySmart Rookie for educators - resources designed to help young people transitioning into adulthood manage their money with confidence.
  • ASIC's Be MoneySmart - an online training resource for VET students (including apprentices and trainees) to develop money management skills, that support future careers in small business or as contractors.

Check out the extensive range of primary and secondary teaching resources.

Video: Eddie Woo on raising MoneySmart kids

Video of Eddie Woo

In this video Australia's most famous high school maths teacher, Eddie Woo, provides his top tips for teaching kids about money.

Teacher professional development

We have a professional development program that includes online and face-to-face workshops to give teachers the skills and knowledge they need to teach young people about money.

More than 32,000 teachers have undertaken ASIC's MoneySmart Teaching professional development since 2012. Visit our professional development webpage to see the full list of courses available.

Become a MoneySmart school

ASIC's MoneySmart Schools program provides recognition and support for primary and secondary schools that make it a priority to teach students how to manage money.

Find out more about the MoneySmart Schools program, and how your school can become a MoneySmart School.

Get into the spirit of Global Money Week this year by helping the kids in your life develop better money habits.

Related links

Last updated: 29 Jan 2019