Children’s financial education where to start

Whether we want it or not, our lives revolve around money. They are essential for us to make our plans come true, to make our dreams come true and to secure our children’s financial futures. The youngest members of the family should also be fully aware of the importance of sound money management. Families have a major role to play here, as they have to rely on the financial education of their children. Where to start? We suggest you.


This is a proven and still very effective way to familiarize your child with basic financial issues, especially with the need to save. A toddler who is already a few years old may have his own piggy-carpide into which he will throw gifts from his parents and grandparents. Make an agreement that your child will determine for himself or herself the purpose for which he or she wants to save. Establish that after e.g. half a year you will open a pig and check whether this money is enough. If not, the rest will be provided by the parents.

In this form of saving there is an element of playability, which will certainly encourage the child to conscientiously put money aside for his or her own purpose. It is also important that the child finally feels the “pain of separation” from the means. This will give you a much better understanding of how difficult it is to earn money and how much you will appreciate its value.


Help your child set a simple, not too expensive goal. If your little one starts to store it on a computer, for example, it can be very difficult for him to collect the required amount of money within a reasonable time. At the beginning, let it be something small, e.g. an average set of bricks or a dress for 50-100 usd. Faster implementation of the target will have a motivating effect.

Don’t get your baby used to meeting all your desires.

It would be a good idea to involve your child in family finances – at a very basic level, of course. Explain to your little one that you are going to work to earn money for all your needs. Explain that you always have to pay bills first, buy food first, and then you can think about other expenses.

Consistency is an important element of education. If you think about fulfilling all your child’s desires, you will think that money is of little value and easy to get. Do not be afraid to say that you have a worse month and you cannot afford to buy one at the moment. This lesson will pay off in the future.

Children’s account

Only some active banks allow you to open an account for a child under the age of 13. However, it is worth taking advantage of this possibility. It will be a great motivation to save. Show your child every month how his or her account changes. Explain what the interest rate of the funds is.

As you grow older, your child will understand more and more about the mechanism of increasing savings, which will be useful if you decide to go to university, for example. At the age of 13 your child will be able to get a prepaid card to their account and use their money under the control of their parents.

These are the absolute foundations on which it is really worth starting. The first time you talk about money and how to manage it, you can start talking about it when your child goes to kindergarten. This will significantly increase the chance of a financially responsible person growing out of it.

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