Sometimes we wait until high school to teach economics to our kids. But truthfully, there are many hands-on and enjoyable ways to introduce and experience economic principles even in the elementary years. Here are two resources you can use to teach economics to your kids.
Set Up A Chores & Allowance System
When you set up a family chore system, complete with an earned allowance, you enable your kids to practice smart budgeting and spending habits while the risk is still low.
Homeschool families are especially in a good position to set up a chore system and have the time to be able to check in on the kids to make sure they’re getting things done. Since our kids are home most of the day, they can contribute to the housekeeping tasks plus learn valuable life skills along the way.
Some parents don’t want to pay their children for completing chores. I totally get it! As the mom, you’re not getting paid either. Plus, as part of the family, they need to contribute without expectation of payment each time.
But I also see the benefit of teaching economics in a hands-on way while they’re young. A regular allowance is often the best way to get this regular practice with money.
Kids learn the benefits of generosity, saving for future purchases, and also the fun of having a bit of spending money!
If you’re interested in the nitty-gritty of setting up a workable system, check out our kids chore system and why we pay them plus some detailed action steps for getting started.
Read & Discuss The Tuttle Twins Books
If you think there are not many solid resources for teaching economics to your elementary-aged kids, then you’re right! In fact, The Tuttle Twins books might be some of the only books out there for the younger crowd.
These kids books simplify complex ideas from economists, historians, and professors – and make it fun!
Created for kids in the ages 5-11 range, they are sturdy paperback books with a nice-sized font and engaging illustrations.
And the amazing thing about our kids is that they can understand way more than we give them credit for!
Author Connor Boyack takes complex ideas from books written for adult readers and distills them down into principles that your kids can understand. The fun and relatable storyline will draw your kids right into the action and help them learn economic principles too!
Connor is a homeschool dad who has also written some great titles for adults too! Check out this podcast episode with Connor which discusses his book, Passion-Driven Education.
If The Tuttle Twins book series is just not enough material for you, then you’ll be glad to know that Libertas Press also offers the Free Market Rules curriculum. This weekly curriculum helps parents & children of all ages to learn together about the free market.
Whether you try out his curriculum or just get your hands on a set of his books for kids, you’ll have a lot of interesting topics to discuss with your kids!
Reading these books plus participating in a family chores and allowance system are simple yet effective ways to teach economics to your kids.
Resources for Teaching Economics to Your Teens
The Tuttle Twins: Choose Your Consequence series for teens is a great start for teaching economics to your middle and high schoolers.
Additionally, check out these related posts:
- Why Your Teen Needs To Start a Business + FREE Summer Business Brainstorm
- Help Your Teens Start a Business
- Books for Teen Entrepreneurs
- Podcasts for Teen Entrepreneurs
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Abby is a former public school teacher, now homeschooling her five children. She’s in the trenches just like you and knows it can be challenging to be home with your kids all day while you struggle to keep up with the housework and educate your kids (and maybe even work on the side!). She blogs over at www.4onemore.com and hosts the Homeschool with Moxie podcast.
