With the economic fluctuations, teaching children about financial literacy has never been more important.
Developing number sense is essential to learning about money. To do so, children need to learn about fractions, multiplication, addition, …
More important, children need to learn the value of money. One example is engaging the children in a school project where they have to plan material and budget, prepare, and implement the selling scheme. Buyers would have the option to buy using money or services. They could volunteer or bring items from home in return. So, setting the price is going to engage children in discussions on pricing, labour, and the value of money.
There are also actions that parents can do with the kids at the market. They can point out different prices for the same item. Other ideas involve asking the child to save towards a purchase, engaging the child in some home help in exchange for money, and involving children in discussions about gifts.
More information is available at https://www.moneysmart.gov.au/
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