The holidays will be upon us before we know it and, if you are like me, you want to get a head start on holiday shopping. In the days when we had to personally ship boxes to family out of state, my goal was to have everything shipped by early December. Now boxes are shipped directly from the vendor to their doorstep, and it is easy to procrastinate.
Because financial literacy is so important – each of us is touched by the need to understand financial concepts and make wise choices – I put together a holiday financial gift guide. I tried to include something for every age range. The resources run the gamut: websites, videos, activities, books, etc. Perhaps you have a favorite resource you would like to add?
Financial Literacy for Young Children
- Create a pretend store or restaurant
- Introduce and talk about coins and their value – create your own coins
- Games such as Candy Land or Chutes and Ladders (require counting spaces)
- ABCYa’s online games: Learning Coins, Dolphin Feed, and others. ABCYa’s Money Bingo (board game)
- See other websites listed (below) for age-appropriate online games
- Open a 529 College Savings Account (can be used for K-12 expenses, too) The best website for information is savingforcollege.com
Financial Literacy for Grade School
- Use pretend money and a cash register
- Play card games that require number identification and simple math – Go Fish; Taco vs Burrito; War; UNO
- Introduce the concepts of saving/giving/spending with money jars
- Open a custodial savings account for the child’s savings contributions
- Shop together and compare prices – introduce the concepts of sales, discounts, and coupons
- See the websites listed (below) for age-appropriate online games
- Continue to contribute to a 529 College Saving Account (may be used for vocational and trade schools in addition to college, university, and K-12)
Financial Literacy for Middle School
- Introduce the concept of budgeting and saving for both short-term and long-term goals. Create a vision board.
- Play games that require money and life choices – Monopoly; Life; Financial Football; Hot Shot Business; Lights, Camera, Budget; Break the Bank; Hit the Road (some are online)
- Activities/classes with Junior Achievement (school-sponsored)
- See the websites listed (below) for other age-appropriate online games
- Check out Greenlight.com (An app for kids and parents. Kids receive a debit card and earn cash back and rewards on savings. Fees apply.)
Financial Literacy for High School
- Activities/classes with Junior Achievement (school-sponsored)
- Open a Custodial Brokerage Account or Custodial Roth IRA (if the student has earned income) and help them select investments.
- Check if your student has financial literacy classes available in school and encourage him/her to enroll.
- Games: ZOGO; Get a Life; The Stock Market Game; Invest Quest; Misadventures in Money Management; The Uber Game; Payback (some are online)
- See the websites listed (below) for other age-appropriate online games
- Books: How to Dress a Naked Portfolio: A Tailored Introduction to Investing for Women*; Rich Dad Poor Dad for Teens; The Motley Fool Investment Guide for Teens.
Financial Literacy for Young Adults
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- Websites that contain tips for investing – Investor.com (U.S. Securities and Exchange Commission); finra.org (Financial Industry Regulatory Authority); nasaa.org (North American Securities Administrators Association)
- All major brokerage websites – Fidelity; Schwab; Vanguard
- Empower Personal Wealth (app)
- Third Decade – a non-profit that offers financial education and mentoring for young adults (age 18-35) at no cost. Application required.
- Apps for budgeting: (Popular mint.com is closing 1-1-24); YNAB; EveryDollar
- Online courses: Money 101 (CNBC); Money Basics (Smart About Money)
- Books: How to Dress a Naked Portfolio: A Tailored Introduction to Investing for Women*; How to Money; I Want More Pizza; Broke Millennial; Get a Financial Life: Personal Finance in Your Twenties and Thirties
Financial Literacy for Adults
- Websites that contain tips for investing – Investor.com (U.S. Securities and Exchange Commission); finra.org (Financial Industry Regulatory Authority); nasaa.org (North American Securities Administrators Association)
- All major brokerage websites – Fidelity; Schwab; Vanguard
- Books: Rich Dad Poor Dad; The Intelligent Investor; The Richest Man in Babylon; Stop Acting Rich; The Millionaire Next Door
- Check on classes offered at a local library, community college, or university
- FDIC’s Money Smart for Adults
- National Financial Educators Council’s (NFEC) financial literacy programs
Financial Literacy for Pre-Retirement
- Websites that contain tips for investing – Investor.com (U.S. Securities and Exchange Commission); finra.org (Financial Industry Regulatory Authority); nasaa.org (North American Securities Administrators Association)
- All major brokerage websites – Fidelity; Schwab; Vanguard
- Books: Your Money or Your Life; The Bogleheads’ Guide to Retirement Planning; The Total Money Makeover; The 5 Years Before You Retire; The New Rules of Retirement; How Much Money Do I Need to Retire; The New Retirementality; How to Retire with Enough Money; How to Make Your Money Last; The Simple Path to Wealth
- Check on classes offered at a local library, community college, or university.
You may also want to check out the following websites. Each contains links to online games/worksheets, etc. for recommended ages.
Online Finance Games:
Elementary School Students: https://www.moneyprodigy.com/online-finance-games-for-elementary-students/
High School Students: https://www.moneyprodigy.com/free-financial-literacy-games-high-school-students/
All Ages:
- http://www.fitzsimonscu.com/financial-literacy-games-for-children-and-adults/
- https://www.fdic.gov/resources/consumers/money-smart/teach-money-smart/money-smart-for-young-people/index.html
This financial literacy gift guide was composed using numerous websites, professional recommendations, as well as personal experience. I am very thankful that financial literacy resources are growing and are abundantly available. Whether you want a game, a class, a book, an activity, or an idea, I am confident that you can find it.
Happy holidays and happy shopping!
Beverly J Bowers, CFP®
*I am the author of How to Dress a Naked Portfolio: A Tailored Introduction to Investing for Women. You can find a description of the book and a list of its awards online. The book is available on Amazon and at select Barnes & Noble Bookstores.
