11 Financial Words All Parents Should Teach Their Kids is valuable piece published by Forbes. Like most Financial Literacy research, the author advocates speaking with children about finance and beginning the conversation at a young age. The author recommends teaching four-year-olds about saving and suggests children as young as eight can comprehend budgeting, loans, and interest. We agree. We also want to add three more words to the conversation with children beginning at age four. Those are SHARE, SPEND, and EARN (not necessarily in that order).
At the core of The Berenstain Bears Financial Literacy Program is emphasis on the sound money management concept SAVE, SHARE, SPEND, EARN. Check out this video to see educators teach the concept to a group of kindergarten students.
The origin of four words/one concept:
We’ve been asked, “Why SAVE, SHARE, SPEND, EARN in that order?” Well, we put the S’s in alphabetical order and put them first because it has a nice ring. Since each action on its own is incomplete, we always print in all-caps and italics to reinforce the singularity of this concept.