These ideas come from the pages of TIME for Kids books, which help curious kids learn more about their favorite topics. It’s Financial Literacy Month—there’s no better time to brush up with these helpful tips about money and finance:
A BUDGET is a spending plan covering a specific period of time. It lists expenses to ensure there’s enough income to cover them.
SAVING money doesn’t mean you have to start out by saving big. Big or small, the secret to successful saving is to do it regularly. Any penny you save for later use is a penny you won’t later have to earn.
When you’re thinking about BUYING a product, it makes sense to read a review of it. With an adult’s help, you can search for a review online. It will explain what the product does and how well it works.
CREDIT is the ability to buy something now and pay for it later. Taking on credit is a common option for big expenses, like paying for education or financing a car or a home.
CRYPTOCURRENCY is money that exists only in digital form. It has value because people believe in it. All the transactions leave a record behind.
NONPROFIT ORGANIZATIONS are groups created to serve a charitable need, rather than to make a profit to benefit their owners. The money spent often comes from donations.
Ready for a bigger bite? TIME for Kids: Money and Finance Field Guide is available now, online and in bookstores and libraries.
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