Global Money Week
Teaching kids about money
The theme of this year's Global Money Week
(25-31 March 2019) is Learn Save Earn.
Whether you're a parent or a teacher, Global Money Week is the
perfect time to use MoneySmart's resources to talk to the kids in
your life about money.
Teach your kids about money
Teaching kids about money is a great investment in their future.
In a world of credit cards, online shopping and internet banking it
can be hard for young people to see the relationship between
learning, saving and earning.
It's important to make talking to your kids about money a part
of 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
- Doing the family budget together - involving
your kids in budgeting can help them learn the difference between
needs and wants, costs and spending. The 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.
- Mobile phones - discuss options for mobile
phone plans and checking and managing data usage to control
The earlier kids learn about how money works in the real world,
the more likely it is they will learn to make informed financial
decisions, manage money day-to-day and plan for the future.
A great place to start is with pocket money.
Video: Kids pocket money advice
Kids pocket money advice
David and Libby Koch discuss some approaches you could take when
talking to your kids about money.
This video was developed in partnership with the Koch family and
Father Chris Riley's Youth Off The
Teach your students
Teachers play an important role in teaching
students about money.
During Global Money Week, Hunter School of the
Performing Arts took part in the Countdown Challenge where
students answered a money related question every day in the lead up
to the week.
The students photographed their answers, which they wrote
on a whiteboard, poster or created digitally, and then posted the
response on the school's Facebook page.
Leading the school's Global Money Week project, head teacher
Cassie Portelli said that teaching financial literacy to students
was crucial. "Especially for students who may have a
career in performing arts where their income can vary dramatically
from week-to-week and month-to-month," she said.
"We like to teach financial literacy where we can, and the
school embeds it into every Key Learning Area and year."
"I like the online professional development because if you're going
to teach money management, you need to know it" - teacher
We have free professional development courses to help you boost
your students' and your own financial literacy skills.
Feel confident and in control of your money with our
Financial Health for Teachers personal learning program.
We have many great classroom
resources you can use to teach financial literacy during Global
Money Week. Here are some of our more popular resources.
Money Match - younger students learn how to identify and match
Australian coins and notes.
Goods and services - students learn the difference between
goods and services, and how to earn money.
Party time - students will organise their own birthday party.
They decide between needs and wants, create a simple budget and
learn about making wise financial decisions.
Helping out - students engage with budgeting, currency
conversion, scams and online security by running a fundraising
event to save a creature from extinction.
Last updated: 21 Mar 2019