It is imperative for children to gain a good understanding of financial literacy and ensure they are equipped with these fundamental lessons to help prepare them for adulthood. On average, Americans are held down financially by $38,000 of debt. What makes this statistic more alarming is the $38,000 of debt is only the average, there are thousands with much more. In 2018 Americans paid $113 billion in credit card interest. These alarming statistical facts point to a lack of understanding regarding the pillars of financial literacy.
It is never too late to understand the fundamentals of financial literacy, but for a genuine change in the culture to take place, we must start by educating our most valuable asset, our children. Sense 2 Cents has beautifully designed cards have taken on the task of helping to make financial literacy a priority in homes across America, by creating great fun kid-friendly flashcards.
The flashcards are grouped in the four sets, and each set contains vocabulary words that correspond to the fundamentals of financial literacy. These vibrantly colored flashcards are bright with colorful graphics that are catchy to the eye and stimulate the young mind to engage and have fun learning. Learning is much more useful for children when learning is fun, and that is the idea behind these flashcards.
The flashcards are designed to make the cards engaging to children, and they can easily be made into games the whole family to enjoy. You can place five cards from each pillar face down and have your children lift them to match cards from the same pillars and discuss the link between the terms. Another great idea is to have flashcard speed races, where you can have the children compete to see who is the fastest at answering the most question in a given amount of time.
The banking flashcards have vocabulary words which are strongly associated with financial institutions. 1. Bank 2. Credit Union 3. Checking Account 4. Deposit 5. Account Number 6. Check 7. Savings Account 8. Withdrawal 9. Overdraft Fee 10. Debit Card 11. Interest 12. Direct Deposit
The above 12 terms are critical to your children’s understanding of banking. By making the process of learning these key terms fun, your children will not realize they are studying and eventually master the banking pillar. The remaining three pillars economy, credit, and investing contain vital terms that are essential to your child’s understanding. As with anything in life, consistency is paramount, so consistently incorporate activities in your child’s everyday life and watch their financial literacy grow before your eyes.