Here's Why Financial Literacy Is a Focus of Ours this School Year

As your kids gear up for the new school year, you’re likely thinking about the usual details: what clothes they need, which classes or activities to sign up for, and how to support their academic success. But there’s one crucial topic that often gets overlooked: financial literacy.

Money plays a significant role in our lives, from daily expenses to long-term planning. That’s why it’s essential for kids to grasp personal finance and basic economic principles before they head to college or enter the workforce. And what better time to start than the back-to-school season?

Teaching your kids financial literacy can set them up for smart financial decisions in the future. Research shows that students who learn basic economic principles and money-management skills are better equipped to handle their finances, whether it’s saving for retirement or budgeting for everyday needs. In fact, key financial habits and understanding are often established by age seven, making early education crucial.

The good news is that teaching financial skills can be engaging and fun. Here are a few enjoyable ways to boost your kids' financial savvy:

Create a Budget Together: Have your child list everything they need for school, from textbooks to supplies, and calculate the total cost. It’s a practical way to illustrate the importance of budgeting.

Give Them an Allowance: Treat it like a small job to teach your kids the value of earning money. They might even learn about delayed gratification as they save up for something special.

Financial literacy isn’t about the amount of money you have; it’s about making informed decisions. You can start by opening a savings account or using a piggy bank. This helps them understand compound interest and the benefits of saving for the future. Learning to balance spending, saving, and donating builds strong financial instincts.

Once your kids grasp the basics, encourage them to delve deeper into financial education. Explore various career paths and how their financial skills will apply in the future. Suggest online courses or even take a class together to learn more.

FitMoney's $uperSquad online program is a great resource for grades K-6, offering interactive modules on financial topics from investing to budgeting. Students help the $uperSquad as they navigate Fitonia, learning about earning, saving, and financial decision-making along the way.

Download our Back to School $uperSquad activity now to practice smart spending decisions.

Join classrooms nationwide by registering for free at http://supersquad.fitmoney.org.

Financial literacy is a lifelong skill. By investing time now, you can help your kids build a strong foundation for smart financial decisions in the future. Make financial education a priority this back-to-school season—your kids will be grateful for it later!