Introduction
At Transform FP, we believe that financial education starts at home — and it should start early. In this article, Shadi Kirk – an independent Financial Planner with decades of experience helping families – shares her tips on how to make that process not only meaningful but genuinely enjoyable for children of all ages.
Why Teach Children About Money?
We all want the best for our children and grandchildren — happiness, security, and a sense of direction. While formal education can provide knowledge in many areas, money management is often left out of the curriculum.
According to research by Nationwide, a staggering 84% of parents said their children hadn’t received any financial education at school, despite 96% believing it’s vital. With so few formal opportunities to learn about personal finance, it often falls to families to bridge the gap.
The good news? Teaching children about money doesn’t have to be dry or difficult. In fact, it can be one of the most enjoyable and rewarding ways to bond as a family — especially when you turn it into a game, an adventure, or a shared story.
Here are three engaging and age-appropriate ways to bring essential money lessons into your children’s lives.
1 Make Money a Game — Literally
Play is a child’s natural learning environment. The United Nations recognises play as essential to children’s development, and it’s through play that many of life’s most important skills are formed — including how to handle money.
Whether you’re building an imaginary shop in the living room or investing wisely in a board game, turning financial concepts into interactive experiences helps children grasp complex ideas without feeling like they’re studying.
Try these ideas at home:
- The Desert Island Game: Ask your child to imagine they’re stranded and can only bring six items. As they choose between essentials (like food or a blanket) and luxuries (like toys), they begin to understand the concept of budgeting and prioritising needs over wants.
- Set Up a Shop: Use real coins and household objects. Encourage them to price items, make change, and role-play both as the seller and the buyer. This builds numeracy and decision-making skills.
And if you’re looking for something more structured, here are a few standout board games designed to teach money management:
- Money Bags (Ages 5+): Children earn coins by doing chores and learn how to count and manage different denominations. It’s great for foundational maths and decision-making.
- Pay Day (Ages 8+): A classic game that mirrors the working world. Players must stretch their salary across the month and manage bills, loans, and savings.
- The Game of Life (Ages 9+): From choosing careers to buying homes and saving for retirement, this game walks players through a simulated life journey — and the financial choices it requires.
These games don’t just teach money sense; they build confidence and offer valuable time spent together as a family. That’s a return on investment in itself.
“If we want the next generation to be financially resilient, we must start at the kitchen table. Early exposure to money conversations — through games, decisions, or stories — builds confidence that will last a lifetime.”
— Angus Kirk, Independent Financial Planner, Transform FP
2 Hand Over the Reins on a Day Out
As children grow, so should their exposure to real-world financial decision-making. One powerful (and fun) exercise is to let them manage the family’s budget for a day trip.
Let’s say you’re planning a visit to a local castle or theme park. Hand over a set budget — perhaps £100 — and explain that it needs to cover everything: travel, entry tickets, lunch, snacks, and souvenirs.
As the day unfolds, your child or grandchild will face real choices:
- Buy that tempting souvenir in the gift shop, or save for lunch?
- Splash out on ice creams, or keep some back for the arcade later?
This exercise allows children to feel the weight and value of money. They learn about opportunity cost — if you spend money on one thing, you can’t spend it on something else. Importantly, they also learn that poor planning has consequences (cue: the back-up sandwiches you wisely brought along in case lunch funds are mismanaged).
The experience is memorable, practical, and often eye-opening. It also gives you the opportunity to talk about saving, planning ahead, and distinguishing between essentials and treats.
3 Stories That Shape Financial Thinking
Children of all ages — from curious toddlers to independent teens — engage deeply with stories. Books, with their power to teach through characters and narrative, can be a brilliant way to introduce money concepts in an emotionally resonant and age-appropriate way.
For little ones, try:
The Four Money Bears by Mac Gardner
Through the tale of Spender Bear, Saver Bear, Investor Bear, and Giver Bear, young readers learn the four key functions of money. It’s colourful, fun, and lays a great foundation for healthy habits. View on Amazon.
For older children (8–12), consider:
Finance 101 for Kids by Walter Andal
An engaging crash course covering saving, budgeting, investing, and more. It even touches on stocks and foreign exchange — all delivered in a way that speaks to a child’s growing curiosity. View on Amazon.
For teens, especially those who enjoy pop culture:
Deborah Meaden Talks Money
This book, by the well-known Dragon’s Den investor, includes interviews with celebrities who share their personal money journeys. It’s a brilliant way to make financial education relevant and accessible for teenagers who might otherwise tune out. View on Amazon.
Books can be revisited, reflected on, and discussed at bedtime or over breakfast. They also build financial literacy in a way that feels empowering rather than intimidating.
“Children model what they see. Making finances a natural part of everyday life — whether it’s letting them budget for a day out or read stories about smart saving — helps demystify money and instils values that carry into adulthood.”
— Angus Kirk, Independent Financial Planner, Transform FP
Final Thoughts: The Legacy of Financial Wisdom
Financial education doesn’t need to be complex or serious. By introducing it early — and making it fun — you’re giving children the tools they’ll use for the rest of their lives. Whether through a board game, a book, or a moment of real-world decision-making, each lesson becomes part of their story. And it’s not just about them. Teaching children about money is also a powerful way to reflect on your own values and how you want your wealth to shape the future — for them, and perhaps even the generations to come.
A Gentle Invitation
If you’d like help building a financial plan that includes the next generation — whether that’s through gifting, trusts, or simply having the right conversations — we’d be delighted to support you. Our advisers are here for a friendly, no-obligation chat when you’re ready.
Let’s help your family grow in confidence, together. Get in touch today.
Important disclaimer: This article is for general information only and does not constitute financial advice. The information is aimed at retail clients only. The value of your investment can go down as well as up and you may not get back the full amount you invested. Past performance is not a reliable indicator of future performance. The Financial Conduct Authority does not regulate estate planning, tax planning, or will writing. We recommend that you speak to a qualified financial planner for advice tailored to your individual circumstances and goals.
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