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10 WAYS TO TEACH 
YOUR KIDS FINANCIAL 
LITERACY 
How to make your children money-savvy
#1 START EARLY 
 It’s never too early to teach a child some money skills. 
 Talk to them about what things cost. 
 Teach them how to save a portion of their pocket money. 
 Help them understand the value of money.
#2 TAKE THEM TO THE BANK 
 Show children how a bank account works. 
 Open a juvenile/ child savings account for each of your children. 
 Start early so they learn that this is the key to successful money management.
#3 GIVE THEM AN ALLOWANCE 
 Decide a monthly allowance - and then let them manage it. 
 Don’t top it up if they run out! 
 Let them see money is finite, and they must control spending urges.
#4 DON’T BE NEGATIVE ABOUT MONEY 
 Don’t talk about money or wealth negatively – it will give your offspring unhealthy 
perceptions. 
 Let your child respect rather than fear money.
#5 GET THEM EARNING 
 Ensure your kids do chores around the house for cash. 
 Encourage them to have a part-time job. 
 Understanding that hard graft = real money will teach appreciation.
#6 EXPLAIN HOUSEHOLD BILLS 
 Take teenagers through your utility bills and annual costs like insurances. 
 Help them understand the cost of filling the bath or leaving lights on. 
 Make them energy-conscious around the home (a double win!)
#7 ENCOURAGE THEM TO SAVE 
 Get kids to set aside a percentage of their pocket money from the outset. 
 Encourage your child to save for big purchases. 
 These savings skills will last a lifetime.
#8 STAY ON TOP OF YOUR OWN FINANCES 
 Set a good example - track, budget and manage your own financial affairs. 
 Let children see you doing your budgeting. 
 Walk them through different types of weekly, monthly and annual outlays.
#9 ALLOW THEM TO GET IT WRONG 
 You WANT your child to run into money issues before they become adults! 
 You can advise where they’ve gone wrong and how to put it right. 
 A minor mishap now lessens the risk of a big mistake later on...
#10 BUY A PRE-PAID CARD 
 A pre-paid card is like a credit card, but limits how much can be spent. 
 Some of your teen’s allowance could go on the card – it’s safer than cash. 
 It’s a cautious way to introduce them to credit cards.
SOUQALMAL.10 WAYS TO TEACH 
COM 
2,800+ YOUR PRODUCTS/ KIDS FINANCIAL 3 COUNTRIES 
LITERACY 
1. Start early 
2. Take them to the bank 
3. Give them an allowance 
4. Don’t be negative about $$$ 
5. Get them earning 
6. Show them your bills 
7. Encourage them to save 
8. Stay on top of your own finances 
9. Allow them to get it wrong 
10. Buy a prepaid card
Souqalmal.com, the #1 
comparison site in the Middle East 
Compare bank accounts (including juvenile savings accounts), financing, 
insurance, mobile phone plans, schools and nurseries

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10 ways to teach your kids financial literacy

  • 1. 10 WAYS TO TEACH YOUR KIDS FINANCIAL LITERACY How to make your children money-savvy
  • 2. #1 START EARLY  It’s never too early to teach a child some money skills.  Talk to them about what things cost.  Teach them how to save a portion of their pocket money.  Help them understand the value of money.
  • 3. #2 TAKE THEM TO THE BANK  Show children how a bank account works.  Open a juvenile/ child savings account for each of your children.  Start early so they learn that this is the key to successful money management.
  • 4. #3 GIVE THEM AN ALLOWANCE  Decide a monthly allowance - and then let them manage it.  Don’t top it up if they run out!  Let them see money is finite, and they must control spending urges.
  • 5. #4 DON’T BE NEGATIVE ABOUT MONEY  Don’t talk about money or wealth negatively – it will give your offspring unhealthy perceptions.  Let your child respect rather than fear money.
  • 6. #5 GET THEM EARNING  Ensure your kids do chores around the house for cash.  Encourage them to have a part-time job.  Understanding that hard graft = real money will teach appreciation.
  • 7. #6 EXPLAIN HOUSEHOLD BILLS  Take teenagers through your utility bills and annual costs like insurances.  Help them understand the cost of filling the bath or leaving lights on.  Make them energy-conscious around the home (a double win!)
  • 8. #7 ENCOURAGE THEM TO SAVE  Get kids to set aside a percentage of their pocket money from the outset.  Encourage your child to save for big purchases.  These savings skills will last a lifetime.
  • 9. #8 STAY ON TOP OF YOUR OWN FINANCES  Set a good example - track, budget and manage your own financial affairs.  Let children see you doing your budgeting.  Walk them through different types of weekly, monthly and annual outlays.
  • 10. #9 ALLOW THEM TO GET IT WRONG  You WANT your child to run into money issues before they become adults!  You can advise where they’ve gone wrong and how to put it right.  A minor mishap now lessens the risk of a big mistake later on...
  • 11. #10 BUY A PRE-PAID CARD  A pre-paid card is like a credit card, but limits how much can be spent.  Some of your teen’s allowance could go on the card – it’s safer than cash.  It’s a cautious way to introduce them to credit cards.
  • 12. SOUQALMAL.10 WAYS TO TEACH COM 2,800+ YOUR PRODUCTS/ KIDS FINANCIAL 3 COUNTRIES LITERACY 1. Start early 2. Take them to the bank 3. Give them an allowance 4. Don’t be negative about $$$ 5. Get them earning 6. Show them your bills 7. Encourage them to save 8. Stay on top of your own finances 9. Allow them to get it wrong 10. Buy a prepaid card
  • 13. Souqalmal.com, the #1 comparison site in the Middle East Compare bank accounts (including juvenile savings accounts), financing, insurance, mobile phone plans, schools and nurseries