noscript pixel

Financial Education for Primary School (6-9 years)

What you will find in this article:

Why is financial education important for children and when should it start?

If you want to raise children who enjoy life without worrying about money, then you need to start talking to them. about money and finance, as soon as possible. Studies show that the age of 3 is perfect to start such discussions. see into the this article what are the financial lessons and concepts that children from 3 to 6 years old need to know. If you have completed the lessons at that stage and have reached primary school, read on and find out the seven lessons that little ones need to learn now - the financial education lessons in primary school.

What should children learn about financial education in primary school?

The lessons so far have been easy, designed to develop healthy habits and behaviors. Well, the lessons that follow become a little more complex. You don't have to worry, they are built in such a way that they are easy for children to understand. 

So when it comes to financial education in primary school, you need to learn about: 

  • Recurring income 
  • Budgets and Savings 
  • Comparative shopping 
  • Opportunity cost 
  • The difference between long-term goals and short-term goals 
  • The difference between goods and services 
  • The difference between needs and desires 

In the first part of this article, we introduce you theoretical lessons of financial education for schoolthe primary one. 

educație financiară școala primară

1. Recurring income

Recurring income can be one of the first more serious financial experiences that primary school children may have. They can experience financial responsibility and, with the money they receive, you can analyze the cothe financial behaviors they have developed up to this age. 

There are several ways you can give your little ones a recurring income. However, you must also consider the responsibilities of each method. 

  • You can give children the allowance they receive from the state - It's not a bad thing, you have to make sure I don't get it ready. You need to discuss and make sure I understand that this money comes with responsibilities.  
  • You can offer them a recurring income against some services / results that the little ones have. QIn this case, you must again associate the income with financial responsibilities and you must make sure that if you reward the notes with byears, this will not make children lose the other motivations for learning.  

How do you determine recurring income?

When determining what recurring income you want to give to your little ones, you need to consider several things, such as your family budget. Also, to make sure you make the best decision, ask yourself the following questions: 

  • How much does his family afford? 
  • How much can you give them to align with the income of other family members? 
  • How much financial flexibility do you have, so that you can increase or not the children's income? 
  • Do children receive recurring income from elsewhere? 
  • Have they shown financial responsibility lately? 
  • Is current income enough to cover savings and donations, not just expenses? 

If you want to practice recurring income lessons, you can download Investory, the financial education video game for kids, for free: 

2. Budgets and Savings

The second important lesson in primary school is about the importance of a budget and about the importance of savings.  

If you traveled with the children, and financial lessons for kindergarten, you should be able to notice now what their natural behavior is. If you notice that they are too expensive, you will know how to insist more with the lessons about savings but also donations, in order to compensate.  

The lesson about savings cannot really be understood by children unless they live it on their own skin. Because, you have to live the whole experience - you have to  he wants something and doesn't have enough money to buy that thing. Be careful, when you explain them, to relate to things they want, not you for them. You better talk about one Playstation than about college money. 

Rule 50/30/20 for the budget

The most common and efficient budgeting rule is the 50/30/20 rule. It teaches the little ones to divide the money they receive into three categories: 

  • 50% are used for essential needs, utilities and expenses 
  • 30%s are used for desires - things that are not essential but that they want. 
  • 20% are used for savings - this money must be set aside from the moment they receive it. 


Make sure that when you help the little ones to set their goals, they must be related to the family's income and possibilities, in a realistic way. It is good for the little ones to learn to live within the limits they can afford. 

Activități de Educație Financiară - 50/30/20 - Școala primară

3. About shopping

The most practical and useful lesson you can do at this age is to go shopping. Obviously, this is after the little ones set aside 20% of their recurring income.  

Before you go shopping, you need to make sure that you know how to shop right and that you can be a good example of that. To make sure that you stay tuned to this chapter, ask yourself the following questions: 

  • When you go shopping, do you use a list? 
  • If you use a list, how often do you deviate from it? 
  • How often do you shop and for how long? 
  • Do you use cash, cards, vouchers or coupons? 

There are no correct answers to any of the above questions, but you will certainly know if there is room for improvement. 

Comparative shopping

Comparative shopping helps us make the most informed decisions, about the most convenient offers, in a lot of choices that we have to make every day. Many times, even for an adult, it is difficult to know that he has made the best choice. How do we get elementary school children to learn to make these choices?  

oameni la cumpărături - bunuri și servicii - educație financiară școală primară

Show them. Do everything practically

The best solution is practice. Go to one of the neighborhood stores, and look for a discount - two for the price of one, for example. Now show the children, in the most visual way possible, the amount of product they can receive for the price of a single product. 

See reviews and ratings together

Children are not aware of that what companies say about their products does not always reflect reality. Not that if you refuse them sometimes, you don't do it out of malice. 

Reviews help you show them some objective opinions of other people. This way you can make an informed opinion, as close to reality as possible. 

Don't complicate things

If before, the only options were in the city where you live, now the options are unlimited thanks to the internet. For children, however, too many options can be confusing. Because it's good to keep lucRsites as simple as possible, at first. 

Keep the discussion relevant

If you want your little ones to pay attention to financial education lessons, make sure the topics you choose to be revealed to them. That's why it's better to talk about toys and sweets, if you know they care. This way they will understand and assimilate everything much easier. 

Relate to their budget

You also need to relate to their budget if you want them to understand. Don't talk about very expensive things or things they don't need at this age. 

If you want your little ones to learn about shopping from the comfort of your own home, download the Investory game for free: 

Opportunity cost

In Romania, the opportunity cost is a financial education lesson that is not discussed enough, not even among adults.  

The opportunity cost is the “cost” you pay, which you actually lose when you make a choice. It's the potential gain you could have had if you had chosen the other option. 

Sounds too complicated? Let's see a concrete example for the little ones:

 Alex has 900 lei and wants to buy a phone that costs 800 lei and a game console that costs 400 lei. In this situation, Alex has two options: 

  • Alex's first choice is to choose a phone that costs only 500 lei and, thus, can afford the console. In this situation, the opportunity cost that Alex pays is that he buys a less powerful phone. 
  • Alex's second choice is to take another job, in which to work extra. In this situation, there are other opportunity costs - for example, the time spent or the money spent on transporting to Alex's new job. 
educație financiară în școala primară

Conclusions - What to remember after the first part of this article:

  • It is best for financial education to start in kindergarten. The age of 6-9 should be the second stage of financial education. 
  • Make sure that recurring income is associated with responsibilities and aligned with family values and budget. 
  • In order for the little ones to really understand the importance of savings and budgeting, use examples that they want or have at hand. 
  • Before you teach children about shopping, make sure you are a good example. 
  • Reviews from online stores are a good way to learn about comparative shopping. 
  • Use concrete examples when talking about these lessons, especially when presenting the opportunity cost. 

If you want to implement the lessons in this article, download the free financial education video game for children, Investory: 

Share on facebook
Share on twitter
Share on linkedin
Other articles

Leave a Comment

Your email address will not be published. Required fields are marked *