How to teach financial literacy to kids?
One of the ways is using money flashcards. Download the set above and tell your children about the following finance terms:
- money – something generally accepted as a medium of exchange, a measure of value, or a means of payment;
- coins – a flat disc or piece of metal with an official stamp, used as money;
- credit card – a thin slab of plastic issued by a financial company, that lets cardholders borrow funds with which to pay for goods and services;
- banknote – a piece of printed paper that has a particular value as money;
- bill – a printed or written statement of the money owed for goods or services;
- fine – a sum of money exacted as a penalty by a court of law or other authority;
- budget – an estimate of income and expenditure for a set period of time;
- mortgage – a loan of money which you get from a bank or building society in order to buy a house;
- debt – an amount of money borrowed by one party from another
- deposit – a sum of money kept or placed in a bank account, typically to gain interest;
- ATM (Automated Teller Machine) – a machine that dispenses cash or performs other banking services when an account holder inserts a bank card;
- salary – the regular payment by an employer to an employee for employment that is expressed either monthly or annually;
- cashier – a person handling payments and receipts in a shop, bank, or business;
- stock market – where traders buy and sell shares of companies on a public exchange;
- price – the monetary (exchange) value of a good, service or resource;
- discount – a reduction in the usual price;
- currency – the money that is used in a particular country at a particular time (e.g., dollar in the USA, rouble in Russia, euro in the most countries of the European Union);
- profit – the surplus remaining after total costs are deducted from total revenue;
- loss – an amount by which the cost of something exceeds its selling price;
- piggy bank – a coin bank often in the shape of a pig.
How to use money flashcards?
- Print the PDF file using black-‘n-white or color printer.
- Cut the cards along dashed lines.
- If necessary, you may laminate the cards with wide transparent tape.
- Then use our flashcard games to memorize the terms with your kids or ESL students.