Drop the ABCs, it's time to talk money!

Drop the ABCs, it's time to talk money!

You spend years teaching them how to spell the word “umbrella”, draw a giraffe or count from 1 to 10, only to realize you should’ve probably spent these years teaching them how not to end up broke in their 20s instead. Oops? But it’s never too late to help your littles become more financially aware. How to do it? It’s that simple:

1)Where does money come from?

For kids, we are mega-millionaires who can make money appear out of thin air. They just never grasp the efforts we do to lay eyes on that sweet sweet paycheck…but what if they finally did? Whether it’s from work, investments or inheritance, highlighting your household's sources of income can be a great conversation starter to help them better understand its value! Make them understand where you are standing financially, so they can get the full picture!

  1. Get them their own card!

Request an extra card from your Klivvr account and give them the financial autonomy they deserve. By feeling like you trust them enough with their own card, they will be more open to embracing their new step towards financial independence! PS: You will also say goodbye to the days they kept losing cash in school or during their Thursday outings.

3) Allowances

Give them their own money and watch the magic happen! This step helps them build their own spending habits and start making their own choices. And don’t worry, you can always just freeze their Klivvr card if their spending isn’t looking good 🤭

  1. Budgeting

Part of ensuring they really understand how the world works is by ensuring they know that different things have different values. Help them put things into perspective by showing them how their PS5 costs compared to their favorite chocolate bar. This way, they can start allocating their money properly and even start saving up and planning for every month in advance!

  1. Reflect on their spending!

Through their Klivvr application, you can go through all their spendings for the month and analyze what purchases were necessary and what weren’t. You can also tell what category gets most of their allowances, so they can be mindful of it the following month!

Financial literacy can be a long and stressful journey, but it’s always worth it in the end! Start them young and subscribe to Klivvr’s Go Plus now to give them their own card!