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Bank Millennium Foundation is starting a guide series for parents about financial education of kindergarten kids

29.07.2020

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How to teach kids about finances when at home? How to get kindergarten kids interested in learning the principles of business? Does it make sense to give kids pocket money? Advice from Bank Millennium Foundation, which prepared a guidance series on how to teach children about finances. The texts available on the Internet can be of valuable help to parents and guardians involved with home education not only during the pandemic.

Financial education is an important part of educating a child and having it learn the world. With the proper tools it can be nice and easy. How to do it, from Bank Millennium Foundation in a special educational guide “How to teach your kids about finance”, prepared specifically with home education in mind. According to research in Poland a gap has been identified in financial education of children and youth. This is confirmed by the latest study carried out by GfK on behalf of the Bank Millennium Foundation, in which respondents - parents of preschool children - declared that they feel the need to educate children in the field of finance. Three-quarters of preschoolers' parents believe that the age of 3-7 is the best time to start financial education for children. The purpose of the guide is to answer this need and learn good habits related to saving, respect for work and money.

- The articles contain interesting assignments and games, which involve kids and adults. They make quality and easy reading and are also practical. Many adults, even if they want to teach finances to their kids, experience a lack of tools or ... ideas. This is why we are pleased to offer them a handy guide and a list of instructions on how to start, how to get the kids involved and interested in the subject – Paulina Wołosz-Sitarek, member of the Management Board of Bank Millennium Foundation, said. – Our guide is an exceptional offer for adults and the next release of “Financial ABCs” - the financial education programme for children, conducted for many years now. We believe such knowledge is important from the youngest years and wise money management helps in being successful in adulthood – she emphasised.

A guide for parents “How to teach your kids about finance” is available on the Foundation's website. In it you can find, among others, the texts: "What if there were no money ... i.e. barter”, "Tough word saving", "Numbers live in the head, or why the brain likes playing ball and dancing” and "Little, less, still less…, or how to plan the budget”. Welcome!

The articles have been prepared in cooperation with Małgorzata Chojak Ph.D., research scholar and teacher at the Faculty of Pedagogy and Psychology of MSCU in Lublin and Head of the “NeuroEduLab” Interdisciplinary Research Team. The next phase of the project will be webcasts on financial education of children.

“Financial ABCs” of Bank Millennium Foundation is an original programme of pre-school financial education started in 2016 and carried out under the honorary patronage of the Children’s Ombudsman. In the programme during 2200 workshops 53,000 children have already been tuitioned in 630 kindergartens all over Poland. Part of the programme is a series of “Financial ABCs” booklets for teaching finances to kids. It comprises three parts: “First purchases”, “First savings” and “The bank tale”. The fourth part about safe banking online will appear soon. The main character in the ABCs and the guide to topics associated with finances is the dog Sebastian.

The Foundation will also provide special educational materials in digital format. All episodes of “Financial ABCs” in the form of animation are available now of the Foundation’s YouTube channel. This new formula of education is a special proposition from Bank Millennium Foundation for the for the duration of the ongoing coronavirus situation.

The mission of Bank Millennium Foundation is to teach financial attitudes from early childhood already. The “Financial ABCs” programme is a contribution to resolving the important social issue of low financial awareness of people in Poland. The programme is liked and appreciated not only by kindergartens but also by independent institutions. In 2019 the Financial ABCs came first in the “Golden Banker” competition in the “Socially Conscious Bank” category.

The quoted data comes from a study conducted by the GfK institute for the Bank Millennium Foundation in May 2020 on a 1000 nationwide sample of parents of children aged 3-7 using the CAWI method.