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Want Your Kids to Learn About Money? Show Them These Catchy Music Videos
If you’ve ever struggled with managing your finances, you may have had the thought, “Why didn’t someone teach me this when I was younger?”
Michigan-based Jackson Charitable Foundation has launched an initiative to teach children about money — through music videos!
The foundation developed Cha-Ching Money Smart Kids videos, which use singing animated characters to teach various financial topics to kids ages 7 to 12.
Each of the 17 videos runs about three minutes long. They’re short enough to hold a child’s attention span and catchy enough to stay in their minds.
One video teaches the cycle of a banknote and how you can earn, spend, save and donate dollars.
Another explores the topic of considering needs versus wants to avoid overspending.
There’s even a video that delves into the way credit card use can damage your finances if not factored into your budget and how it adds interest to your purchases.
Spreading the Message About Financial Literacy
One of Jackson Charitable Foundation’s partners in financial education is Junior Achievement USA, a national organization dedicated to teaching young people how to be economically successful.
The two groups have teamed up to bring the Cha-Ching Money Smart Kids videos to Junior Achievement’s Our City program, which teaches entrepreneurship, financial literacy and work-preparedness to about 450,000 third-grade students in classrooms across the country.
“When it comes to kids and their financial futures, perhaps the simplest way to make a positive impact is by encouraging more conversations about money,” Danielle Robinson, executive director of Jackson Charitable Foundation, said in a press release.
Jack Kosakowski, president and CEO of Junior Achievement USA, said in a press release that it’s never too early to teach kids the benefits of saving and spending wisely.
“As adults, it’s our responsibility to help children feel less confused and more motivated about money,” he said. “Simply helping your child open and manage a bank account to save for something specific, such as pocket money for an upcoming vacation or even college, is a great way to help kids learn to achieve financial freedom and excite kids about money, especially when they see it accumulate.”
The Importance of Teaching Kids About Money
Jackson Charitable Foundation and Junior Achievement commissioned Wakefield Research to conduct a survey about kids and money.
A third of children ages 7 to 10 who were surveyed said they were not taught how to get or earn money. Forty-one percent said they were not taught how to spend money.
Only a quarter of the children surveyed knew you can earn interest on savings.
Hopefully, with some help from the Money Smart Kids, the next generation will have more financial savvy by the time they reach adulthood.
Your Turn: Do you have any interesting ways you’re teaching your kids about money?
Nicole Dow is a staff writer at The Penny Hoarder.