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November is Financial Literacy Month

November 16, 2021

image: andrewswd from Getty Images/Canva Pro

Financial literacy should be recognized every day!  However, Canada acknowledges Financial Literacy Month in November (and in the US it’s in April!)  Financial literacy is a critical part of life, which is why Walter the Vault has begun this mission to help children become money masters. Younger children are picking up on habits that they will be carrying with them for the rest of their lives, which is exactly why we want to instill good financial habits right now! This November, let’s take a look at what it means to have financial literacy- and how you can help your kids gain it!

What Does Financial Literacy Look Like?

Financial literacy includes your ability to handle your finances in a healthy and efficient way. Financial literacy covers subjects like saving, budgeting, and investing. Those who build their financial literacy from a young age will understand the power money has and have a good foundation for using their own money to their advantage!

Tips for Building Your Kid’s Financial Literacy

We all dream of our children growing up with a healthy and effective relationship with money. If there is one thing I know, it is that practice makes perfect! A few ways to practice financial literacy with your little ones include:

  • 🗣 Talking to them about money! Including your kids in money conversations allows them to get real world examples of how to effectively manage their money!
  • 💸 Giving them an allowance. This will give them a chance to make money decisions and mistakes before the stakes are too high to come back from
  • 🛒 Introducing some money related activities. Games, music, and activities that teach your little ones the value of money can be great for showing them healthy ways to handle it in an entertaining way!

The more practice your little one gets, the better chances they will have at developing their financial literacy. This November presents the perfect opportunity to begin teaching your child to become a money master!

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