Happy family

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. Chug-a-Chug-a-Choose – In this story, Louis and his mom choose the best place to buy a toy.
  1. Needs and Wants – This activity teaches about things we need that cost money, compared to things we simply want.
  1. What’s the better deal? – Figure out what costs less with this fun math activity.
  1. Budget practice – Learn about budgeting in this video.
  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. Family Literacy First is a free program created by ABC Life Literacy Canada to bring parents and children together to practice family literacy.