MONEY MATTERS Financial Literacy Conversations for Families
Conversation starters for families For kids in grades K through 8: Address economics and financial literacy through needs and wants. Kids in kindergarten through 8th grade are naturally inquisitive, and parents can use that trait to their advantage to reinforce financial responsibility at home. During early childhood , the period between birth and 8 years of age, kids begin to recognize that they need money to buy things. Parents can discuss where money comes from, how to save resources and how to keep money safe. Demonstrate the simplicity of the conversation: “Don’t eat all the cookies now because we want to save some for tomorrow,” recommends OCEE Executive Director Amy Lee. Middle school parents can incorporate finances into their child’s daily activities. Challenge their decision-making process and discuss needs versus wants. Ask budgeting questions and use gaming currency like Robux and Minecoins as examples to engage. Parents can also help middle schoolers develop interpersonal skills that attract success, such as self-confidence, communication, empathy and other life skills that lead to more informed choices.
Cashless transactions, cryptocurrencies and Venmo transfers are the realities for children born in the digital age. But when it comes to teaching kids about money, those new methodologies of payment don’t change the reality that financial stability matters. Healthy money relationships begin with piggy banks, good habits and open discussions about earning, saving and growing money. The Oklahoma Council on Economic Education (OCEE) provides teachers with personal financial literacy training and economics resources to support Oklahoma’s Passport to Financial Literacy. Schools in Oklahoma present 14 core standards to students in grades 7 through 12, all of which are required for graduation, including topics like earning an income, savings and investments, insurance, buying a home and retirement. (Find a full list of standards on page 55.) While parents will see these standards integrated into their kids’ courses in grades 7 through 12, home is where money literacy is modeled and taught. Local experts provided the following tips and conversation starters to help parents talk about money at every age and stage.
BY TONI ALLEN
52 METROFAMILYMAGAZINE.COM / SEPT-OCT 2022
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