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It’s never too early to start teaching children about money. Giving them money of their own can help start to build good financial habits for later in life.
Here are three National Curriculum topics for three-to four-year-olds, along with practical tips on what you can do to help them build their understanding. Information correct as of February 2023.
In a world of contactless spending, it’s as important as ever for young children to learn about cash. At this age they may:
At this age, children can spot that money is spent in many places and in varying amounts, whether buying toys in a shop or drinks in a café. Now they may:
At this age children can start to:
As they get a little older, they’re likely to have started picking up money habits. Their understanding is growing, and they can see that money can buy things they want. Here are three National Curriculum topics for five-to six-year-olds, along with practical tips on what you can do to help them build their understanding. Information correct as of February 2023.
As children learn how to read, write and count, they can start keeping track of money and start to keep simple financial records.
Recognising the difference between wants and needs can help children understand tough spending choices.
Children of this age may be able to recognise that by not spending on small things, they can save their money for something bigger. Encouraging a savings habit now will help them in later life.