happy children saving money

Summer Money Challenges to Boost Your Kids’ Financial Literacy

One of the greatest opportunities we have as parents is setting our children up for success. And now that school is almost out for the summer, it’s a great time to come up with opportunities to keep your kids engaged—Learning about money is a great way to do just that! 

Here is a list of interactive money activities for different ages that will help your kids learn and grow in their financial literacy, all summer long. 

Summer Money Challenges For Kids 

Teaching our kids how to manage money effectively empowers them to build a better future and develop financial responsibility. To help your children enhance their financial literacy this summer, we’ve compiled a list of engaging, age-appropriate money activities. Here are some fantastic opportunities for your kids to learn about money management: 

Toddler/Preschooler (Ages 3-4): 

At this age, kids love to play. And that’s exactly what they should be doing! You can incorporate great interactive money activities through your child’s everyday play opportunities.

1. Play restaurant. 

If your child already enjoys playing with a kitchen set, this activity will be a breeze. Utilize pretend scenarios such as running a restaurant and introduce play money into the game. Encourage your child to handle the money when you “pay” for your order, offering a valuable opportunity to grasp the concept of when and where money is utilized. Use this playful moment to impart some fundamental insights about money and its practical application.

2. Give them a chance to earn money. 

At this age, most kids haven’t developed a disdain for helping around the houseyet. Use this to your advantage! Give them simple chores to do around the house and teach them about earning money by doing some work. You know your child best, so you know what chores are appropriate for them. 

School-Aged Children (Ages 5-10):

While there’s a significant age difference within this group, children in this stage are starting to comprehend broader concepts about how the world operates. Unlike preschoolers who might not fully grasp the value of possessions or the correlation between effort and reward, school-age children exhibit a deeper understanding. This presents an ideal opportunity to lead by example and reinforce the principles you advocate.

1. Money-focused learning tools. 

Engaging in money-centered games and activities offers a dual benefit: it allows children to enjoy themselves while providing a straightforward platform for teaching money management. Consider resources like Dave Ramsey’s Financial Peace for Kids or their Junior’s Adventures Storytime Collection, which effectively convey money values and concepts to children. Additionally, Sagevest Kids offers a wealth of money-focused games and activities, making learning about finances both entertaining and educational.

2. Give them opportunities to give, save, and spend. 

With their newfound earnings from chores and understanding of giving, saving, and spending, it’s time to put their financial responsibility into practice. Guide them in saving towards a desired purchase, demonstrating the gratification of achieving a goal. Illuminate the joy of generosity through giving, and instill an appreciation for the value of money by making thoughtful spending decisions together. 

Tweens and Teens (Ages 11-18): 

This is a pivotal moment to engage deeply with your kids. At this stage, money can easily be overlooked or taken for granted. However, by involving them in your family budget discussions and demonstrating responsible money management practices, you’re laying a solid foundation for their future financial success. Your actions today will profoundly shape their financial habits and prepare them for the years ahead.

1. Open a custodial bank account. 

While it may appear premature, initiating financial literacy education early yields significant benefits. As your children mature, they become increasingly capable of managing their finances independently. Banking serves as an excellent entry point. 

Establishing a custodial bank account at this stage empowers your children to navigate their finances with greater autonomy while providing you with the

opportunity to guide them through each transaction, fostering a sense of responsibility and understanding along the way.

2. Help them start a business. 

Entrepreneurship knows no age limits. The earlier children embark on this journey, the deeper their understanding of money, business dynamics, work ethics, and the true value of currency. Whether they venture into lawn care, leaf raking, dog walking, or crafting unique art prints, these hands-on experiences offer invaluable lessons in financial management. 

Summer is quickly approaching! Don’t let it slip away without trying some of these easy interactive money activities with your kids. By implementing them early and often, your kids will be standing on a solid financial foundation. If you want more tips and ideas on how to help your kids learn money concepts, reach out to a SageSpring financial advisor. We would love to walk alongside your family as you grow in financial literacy. 

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Jeffrey T. Dobyns


President, SageSpring | Financial Advisor, RJFS 

Jeffrey T. Dobyns

President, SageSpring | Financial Advisor, RJFS

Beyond crunching numbers and investment strategies, at SageSpring, we’re about building relationships. When you encounter Founder & President of SageSpring, Jeff Dobyns, it’s easy to understand why this is at the very heart of who we are as a firm. You won’t find stuffy formalities with Jeff; instead, you can expect to find him sharing a warm smile, communicating a compelling vision, or patiently untangling life’s complex challenges with clients. He believes in truly getting to know clients, understanding their aspirations and priorities, and navigating their financial plans with a tailored, comprehensive approach. Our team members have often been caught taking notes on Jeff’s effortless relationship skills from a distance, and we admire them for striving to learn from one of the best. 

Jeff’s financial expertise and wisdom are the perfect match to his innate people skills. Jeff holds the prestigious CERTIFIED FINANCIAL PLANNERTM certification, Chartered Life Underwriter (CLU®), and Chartered Financial Consultant (ChLU®) designations, and has held executive positions with financial planning firms for more than two decades. 

His dedication extends beyond the office to the boardroom and the local community, where Jeff is passionate about giving back. He serves as Chairman of the Board of Men of Valor, a prison ministry and mentoring program. Jeff also serves on the board of Send Musicians to Prison, which shares hope, healing and restoration with the imprisoned through musicians & artists. Jeff actively supports other initiatives in the community by sitting on the board of The Signatry of Middle Tennessee and the Halftime Institute of Nashville. 

Witnessing his four children, Gracyn, Hunter, Tanner, and Logan, excel on the field is almost just as rewarding, if not more, than celebrating the victories of seeing his clients overcome obstacles and build wealth. Spending weekends boating on the lake, hiking mountain trails, and fishing with his family are the moments Jeff cherishes most. It’s this grounded perspective that reveals the true meaning of wealth for Jeff: not just numbers on a page, but the freedom to create experiences that enrich your life and the lives of those you love. When you choose the Dobyns McMillin Wealth Team, you choose more than financial expertise. You choose a partner who champions your dreams, celebrates your victories, and walks besides you on the path to achieving your unique goals.

**Certified Financial Planner Board of Standards Inc. owns the certification marks CFP®, CERTIFIED FINANCIAL PLANNER TM, CFP® (with plaque design) and CFP® (with flame design) in the U.S., which it awards to individuals who successfully complete CFP Board’s initial and ongoing certification requirements.