Teaching Kids About Money – 10 to 13 Year Olds

When children reach their teens, they begin to develop a sense of reason, transforming from emotionally-driven individuals to rationally-driven decision makers. Your children will become more independent and prefer spending time with their friends instead of you. At this age they will spend hours consuming media and peer pressure will take over, which goes hand in hand with financial pressure.

Once your child has a firm grasp of the basics, it’s time to finish the transition into the cashless world. Use this time as an opportunity to expand their financial knowledge and start to introduce concepts like credit, debt, Interest and budgeting. It is probably also a good time to discuss online fraud and scamsters as well as identity theft.