5 financial literacy activities for the whole family

November marks the 10th anniversary of 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 basic financial decisions, they’ll ultimately feel more confident in their money-making decision.

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. Money Word Fun– Build your financial vocabulary by learning about different money-related words.
  1. Party Budget– Put your budgeting skills to use by putting together a budget for an imaginary party.
  1. Decimals, Percent and Interest – Learn about interest with this handy worksheet on decimals and percentages.
  1. Roadblocks – Avoid excuses for saving money by understanding what common roadblocks you might face.
  1. Ways to Earn Income – Come up with creative ways to make money!

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. Hear from parents who have taken the program.