How to teach children about money, spending and credit - financial education/financial literacy for Primary schools

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Created in partnership with the , these short videos help teach children about the importance of budgeting, saving, and spending wisely, which can lead to increased financial literacy and more responsible financial habits later in life.

Why do children need to learn about money management?

Teaching children about money management from an early age helps them develop a sense of financial responsibility. Compared to previous generations, children have a greater exposure to digital devices, online platforms, and electronic payment systems. This may influence their understanding of money and the way they manage it.

For example, the prevalence of digital payments means children may have limited exposure to handling and managing cash, which could affect their understanding of its value. They may encounter new types of spending decisions and face challenges in distinguishing between needs and wants. This might include in-game and in-app purchases, which can create a sense of immediate reward, and make it challenging for children to think critically about their spending decisions.

The videos have been created using the and are designed to help teachers deliver financial education in primary schools. Each video addresses key learning outcomes from the framework – these are detailed on each video page.

Videos 1 (Money and how we pay for things) and 2 (Spending versus saving, and needs versus wants) in the series are primarily aimed at 5-7 year-olds (KS1) but may also be suitable for older children. Videos 3-8 are aimed at 7-11 year olds (KS2).