Parents: 7 - 9 Years Old

Tips!

Do simple and fun activities together

Focus on financial education through visuals or activities

Use less wordy teaching

Main skills

that need to be cultivated at this age

1

Able to recognize and calculate Malaysian currency.

2

Able to differentiate between needs and wants.

3

Realize the benefits of having savings.

Simple activities

1

Teach the difference between all types of Malaysian banknotes & coins

Use our "Know Malaysian Money" activity as inspiration.

2

Encourage the habit of saving

Encourage your child to keep a balance from daily pocket money or public money.

Use a transparent piggy bank to help see the growth so that it can burn your child's saving spirit.

3

Teach the difference between needs and wants

Choose 10 existing items that are in the house.

Ask your child to divide the items into categories of needs and wants and discuss their options.

Have extra time?

1

Involve your child when buying necessities

Explain what you need to do when arriving at the checkout counter.

Ideally, use cash instead of credit or debit cards so they can recognize the value of money.

2

Train your child to buy things in stores or restaurants

Give your child a chance to choose something that is not of high value in the store or restaurant.

Ask them to make payment for the goods using small money (RM1-RM5).

3

Play "Mom & Kids Supermarket"

Choose a play around your home and place a "price tag" on it.

Take turns being the "shop owner" or "customer".

Give them the opportunity to practice making the right price calculation either as a store owner or a customer.

4

Start a transparent piggy bank for yourself

Children at this age are more comfortable with what we do than with what we say.

5

Watch the video of "Differences of Needs & Wants"

Watch this video together on the Fun Portal (d) for Life (Student Category> 7-9 years).

Share what are the needs and wants for yourself.