The pandemic has brought the world down to its knees in nearly all aspects. We have never been restrained in our work and family activities as much as we have in these times. Most people lost jobs, families were forced to change their lifestyles due to reduced incomes, and parents were forced to stretch their income to accommodate the needs of their children.
Now that we have limited resources, we need to learn how to maximize them and manage our income better. Most families are homeschooling their children and this makes it the best time to start teaching our children financial literacy.
We have never been closer as a family, literally, due to quarantine. Fortunately, we can take advantage of this unfortunate health crisis to teach essential life skills to our children to better prepare them for future crises.
Before teaching children financial literacy skills, it is important for us, as adults, to be conversant of it as well. According to studies, financially anxious parents also raise anxious children compared to kids that are brought up by parents who don’t worry so much about money.
Fortunately, the Literacy Encyclopedia has many valuable resources and downloadable learning materials/workbooks that can help parents learn financial literacy.
If you want to teach your children this skill, you need to start small. A good tip is to first ensure that they have adequate literacy and numeracy skills. Managing finances involves plenty of numbers so it helps to teach them those foundation skills first.
Teach them how to read and write better and calculate arithmetic and basic equation. The Literacy Encyclopedia has a reservoir of child-friendly workbooks that makes learning mathematic fun and amusing.
We have a library of reading materials and videos on how to deal with financial challenges, surprise expenses, and many more. You can download them and so you can learn financial literacy together as a family.