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5 financial literacy activities for the whole family

November is Financial Literacy Month in Canada, which encourages Canadians to increase their financial literacy skills and better understand their finances.

People with financial literacy skills make better financial decisions and manage money better than those without these skills. Those who attain these skills at a younger age fare better than those who do not.

Talking about money as a family is an important part of helping kids develop a healthy relationship with money. Children learn from watching adults, so by talking openly and honestly about money, you’re showing them that money is not taboo. By including children in financial decisions, they’ll ultimately feel more confident in their money-making decisions.

To help families improve their financial literacy skills throughout the year, ABC Life Literacy Canada offers five financial literacy activities for the family to do together.

  1. Friendship bracelets – This workbook talks about ways to earn money and also covers vocabulary related to money.
  1. Calculating tax – This activity teaches children about tax and how to calculate it.
  1. Counting Money – Learn how to count money in this fun video activity.
  1. What do we do with money? – Teach kids about what money is, why it’s important and how we use it.
  1. Decimals, percent and interest – Learn about decimals, percent and interest in this worksheet; all finance-related concepts that are important to know.

To download more activities like these, visit FamilyLiteracyFirst.ca and sign up for a free account. HSBC Family Literacy First is a free program created by ABC Life Literacy Canada and supported by HSBC Bank Canada, to bring parents and children together to practice family literacy.