We've spent a lot of time thinking about financial literacy for kids and putting together an effective program we believe teaches children everything they need to know about personal finance.

We are happy to share what we believe makes not only a robust homeschool financial literacy curriculum but also the necessary things for parents to teach financial education for kids at home.

1. How money is earned
   Earning money gives people more choices in life. Introduce your children to ways they can make money and what it means to be paid an hourly rate versus a salary.

2. The importance of saving
   Money in a bank account is relatively safe but there is an additional benefit – it can earn interest! Teach your children the importance of saving and the differences between everyday checking accounts and savings accounts and when to use each one.

3. How interest makes money
   Earning interest is an easy way that everyone can make money. Introduce your children to the concepts of simple and compound interest and explain the benefits of starting to save early.

4. How they might choose their career

   Choosing a career is a very important life choice. Start your children thinking about what they are good at and discuss what is important when choosing a career.

5. How to write a resume
   Preparing a resume is usually the first step towards securing a meaningful job. Get your children starting to think about their strengths and the things they like to do, then have a go at writing a simple resume.

6. How to apply for jobs
   Explain to them how writing a good cover letter is an important part of a job application. Get them to have a go at writing one - it’s a great way for them to practice their reasoning (why they should get the job!).

7. Wages vs salaries and paying tax
   It’s great to be paid for doing a job, whether it’s via wages or salary. However, it’s important for children to realize that some of their pay will be paid as income tax. Discuss why income tax is necessary and how it is calculated.

8. Smart spending habits
   Explore ways your children can get the best value when spending their hard earned money. Buying cheap is not always the answer! Discuss the pressure they might experience from peers or advertising to buy things.

9. How to prepare budget
   Budgets are the most powerful tool people have available to control their spending. Teach your kids how to create a budget and explain what they should do if their expenses are greater than their income.

10. How bank accounts work
    Your children will be getting bank accounts soon, if they haven’t got them already. Teach them how banks make money, how money gets in and out of their accounts and how they can keep track of it.

11. The different ways of paying for things
    Children are paying for things less with cash and more via debit cards. Introduce other ways of making payments that they need to know about.

12. The implications of borrowing money
    Borrowing puts the borrower into debt but this is okay if the money has been borrowed for a good reason and they have the ability to repay it. Talk your children through the good and bad reasons for borrowing money as well as how interest works.

13. How large items can be purchased using collateral
    There are a number of different loan options if we need to borrow money. Explore with your children the impact that providing loan security has on the interest rate charged.

14. How to budget for loan repayments
    Borrowing money can get people into trouble. Show your children how to factor loan repayments into a budget and what to do if they can’t afford them.

15. How to decide between renting and buying a property
    Most people would rather buy their own house than rent one. Look at the cost of houses in your area and city with your children then use budgets to help them figure out whether they would be able to afford to buy or rent.

16. What mortgages are and how they work
    Explain how mortgages work and how most people are able to purchase a home by saving for a deposit. If your children learn the basics of property finance now it will improve their chances of being able to own their own property in the future.

17. How property gets bought and sold
    Buying a property is the biggest purchase many people make in their lives. Introduce your children to the process early. If they learn the basics now they can approach the opportunity with more confidence as adults.

18. How money can be made from renting out a property
    Discuss the basics of earning money via owning a rental property.

19. What Certificates of Deposit are
    Investing is a way of creating wealth without having to be paid to do something. Introduce your children to Certificates of Deposit and why they are better investments than regular savings accounts.

20. The risks and returns of property investment
    Rental property ownership is a common form of investment. Explain to your children why rental property is a medium return, medium risk investment.

21. How make money by owning stocks
    Introduce your children to the basics of earning money via owning stocks and explain what how the stock market works.

22. The highs and lows of investing in collectibles
    Collectibles are investments in rare items that (hopefully) will increase in value over time. These items include art, coins, stamps, antiques and cars. Although they can be fun to collect, it is a high risk/high return investment and your children should get a good understanding of the risks involved.

23. The basics of business
    Businesses produce most of the products and many of the services we enjoy in the world today. Introduce your children to different types of businesses and the jobs they might expect to do if they work in one.

24. How to use marketing to promote a product or service
    Marketing is telling customers about a product or service. Children should learn some simple tips on the best way to do this, then for fun they can make something to sell and market it.

25. Promotion, selling and pricing in a business
    Promotion is how you get your marketing message to your customers. Teach your children about advertising, loyalty programs, how to set a price and make a sale.

26. How businesses make a profit (or a loss)
    A business’s profit is the reward for the effort given and the risk taken by it’s employees and owners. Teach your kids how to prepare a simple profit and loss statement and what profit a business might expect as an acceptable return on investment.

27. What warranties are and how to keep their cash safe
    Teach your children what to do if the product they have purchased doesn’t work like it should or stops working altogether. Include a discussion on the ways they can keep their cash safe, both at home and overseas if they are lucky enough to travel.

28. What insurance is and why people have it
    Insurance helps protect us financially if things go wrong. Explain how insurance works, in particular House and Contents, Car, and Health insurance.

29. How to stay safe online
    It’s important to teach your children about cyber security, particularly around spending money on ecommerce sites and not sharing account/ password/ personal details with strangers. Also discuss the chances to getting rich through lotteries or gambling.

30. What is net wealth and why it’s important to invest to grow it
    Finally explain to your children why they should save to invest and why they should invest to grow their net wealth. Also explain the importance of protecting their net wealth by diversifying their investments.

Feeling a bit overwhelmed?

There is a lot to teach them and it won’t be that surprising if you are feeling a little overwhelmed by it now. We can empathize, it’s how we felt when we first writing our MoneyTime financial education for kids. Like you we feel it’s important kids know about this stuff and we know as busy parents it’s hard to find the time to figure out what and how to teach them. So we created a program that does the teaching for you

MoneyTime covers all 30 topics in a digital self-study program. No instruction by you is needed! However for parents who want to work through a homeschool financial literacy curriculum with their children, we’ve included a parent study guide.

Each lesson takes just 30 minutes so they are easy to fit into your children’s busy lives.

Learn more about MoneyTime’s personal finance lessons for kids today.