Money Management Activities for Teens
Use these money management activities for teens as part of your homeschool lesson plans.
One of the most important things you can teach your teen is how to manage money. This is a skill they will use for the rest of their lives. There are a lot of different ways to teach this topic to your kids, but one of the best ways is through hands-on activities like these.
They’ll ensure your tweens have fun while becoming financial literate.
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What is Money Management
Most tweens use money every day, whether they’re buying lunch or going to the movies. But what is money management? Money management is all about making sure you have enough money to cover your expenses and reach your financial goals.
Common topics include saving, budgeting, and spending.
It’s crucial that we help our kids become financially literate, meaning they understand the basics of money management.
Why Financial Literacy Is Important For Kids
Financial literacy is super important for tweens! It helps people understand how money works and help them make better decisions about spending, saving, and investing. It can also help people avoid getting into debt or making poor financial choices that could have long-term consequences.
When you teach them about money, make sure you’re covering essentials like:
- Income – what is income, how much you get to keep, understanding how taxes and insurance work
- Budgeting – what is a budget, why it’s important, how to use one to manage your spending so you don’t overspend your income
- Saving – why you should save, different types of saving (short/long term), investing money wisely, emergency funds, planning for larger purchases
- Credit – what is credit, what is a credit score and why it matters, avoiding debt and making smart borrowing choices
Just like adults, kids need to know how to manage money and make smart financial decisions, so it’s never too early to start educating them about finances.
Fun Ways to Learn About Money
It can be challenging to teach kids about financial stuff because so much of it ends up being theoretical rather than practical, which can be boring and isn’t relatable. But that doesn’t mean you should hold off teaching these important concepts. I’ve found that the more exposure they have to them, the better.
You’ll just have to think outside of the box with your middle schoolers to keep them engaged. Doing fun activities or playing video games are some great ways to teach kids about various money concepts.
Here are a few that I think tweens will enjoy and will help them understand the different topics related to finances.
Fun Money Activities for Middle School Students
Play these games with your tweens and teens to help them become financially literate.
It can be fun to teach older kids about money management when you use this online tool.
A variety of budgeting activities that you can do with your older kids. Most of them include helpful downloads as well.
Tweens can learn a lot about their spending habits as they play this game. After rolling a virtual die, they'll move around a mall, making various financial decisions.
A list of different activities you can do with your older kids to teach them about budgeting and economics.
Different finance games tweens can play online. Run a business, work in a bank, and sell enough to make it home.
Financial fun packs you can use at home with your kids. They have a different pack for each age group, all full of unique money related activities.
As tweens play this game, they'll feel like they're in the middle of a graphic novel. Players work to make wise financial decisions.
Here are some fun budgeting activities for teens. Personally, I love the idea of the "Price is Right" game that will help older kids learn how much living essentials cost.
Teens can hit the road on a virtual road trip with friends. Along the way, they'll need to work on their budgeting skills and be smart spenders.
Projects, games, and activities you can use to teach your teens about various finance topics like smart shopping, budgeting, and decision making.
Additional Money Management Resources
Here are some other ideas to help you teach your older kids about financial stuff.
- These personal finance topics must be a part of any lesson on money.
- Budget is a fun board game to add to your financial lesson plans.
- If your kids are too young for a regular part-time job, consider these ideas for making money.
- Play Cashflow together as a family to build your money-related skills.
- Are you teaching your kids these money management skills?
What’s your favorite activity for teaching tweens about finances?
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