The guide
The guide to financial education, from age 6 to 20
This guide brings together what a child can understand at each age, the methods that work day to day, and the conversations that make a difference at home. It's organized into four chapters: three age groups, plus one chapter for parents.
Contents
Four chapters, one thread
Each chapter starts from real situations for that age group, then suggests an action to try during the week.
- Chapter 01Ages 6-10 — discovering moneyAt this age, money is learned by seeing it, touching it and choosing with it. Not through theory.
- Chapter 02Ages 11-15 — managing moneyThe age when giving turns into budgeting, and the first purchases happen without parents.
- Chapter 03Ages 16-20 — becoming independentThe final stretch before adult life: whatever isn't learned here will be learned the hard way.
- Chapter 04Parents & moneyChildren learn first from what they see at home, before what's explained to them.
All guide articles
Ages 6-10 — discovering money
- What age should you start talking about money with your child?Age benchmarks (6, 11, 16) for introducing money gradually, without rushing or waiting until the teen years.
- How do you explain the value of money to a child?Help a 6 to 10-year-old understand what money is really worth, beyond the price tag on an item.
- How do you teach a child to put money aside?A simple method to introduce saving to a 6 to 10-year-old, with a visible, reachable goal.
- At what age should you start giving your child allowance?How to know if your child is ready for allowance, without relying on age alone.
- How much allowance should you give your child?A family calculation method to set a fitting allowance amount, without relying on ready-made norms.
- How do you explain the difference between a need and a want?A hands-on method to help a 6 to 10-year-old tell needs from wants, using real situations.
Ages 11-15 — managing money
- How do I teach my teen to manage their own money?How to help a teenager move from pocket gifts to a real budget: a sample first week, simple rules, and steady progress.
- How do I teach a teenager to manage a budget?The three-envelope method to teach a teen budgeting: spend, save aside, and fund a chosen project.
- What should I do when my teen spends all their money at once?Your teen spends everything as soon as they get it: how to react, what to say, what to avoid, and why mistakes help.
- How do I manage my teen's in-app purchases in video games?How to manage in-app purchases in video games: make spending visible, set a monthly cap, and talk about it without conflict.
Ages 16-20 — becoming independent
- What money mistakes might my child make once they leave home?The most frequent financial mistakes young adults make, and what parents can prevent before adulthood, without overdramatizing.
- How do I prepare my child financially before they turn 18?How to prepare your child financially before they turn 18: a checklist of topics to cover during the year before.
- What should my teen understand about their first paycheck?A teen's first paycheck: understanding gross vs net pay, payslip deductions, and setting a split rule from the very first transfer.
- How can my child build a student budget that actually holds up?How to build a realistic student budget, with irregular income and yearly expenses spread across the months, without getting caught off guard.
- What should my child watch out for with their first bank account?A young adult's first bank account: account fees, overdrafts, and what banks don't always explain upfront.
Parents & money
- How do I start talking to my child about money?Open up the conversation about money at home without taboo or lecturing, with 5 age-appropriate conversation starters.
- Should household chores be paid for?Family contribution or exceptional reward: how to tell what should be paid at home from what shouldn't.
- How can I raise a responsible child without controlling everything?Guided independence and the right to make mistakes: what to keep control of and what to let go of, by age.
- Does talking about money make a child materialistic?What actually creates materialism in children, and why talking about money at home tends to reduce it.
- How do I choose a financial education app for my child?An honest checklist for choosing a kids' financial education app: content by age, progression, parent involvement, price.
Method
Understand, then practice
Reading a guide isn't enough: a financial skill sets in once it's repeated in everyday life.
Age-appropriate
The same topic isn't handled the same way at 7, 13 or 18.
Grounded in real life
Shopping trips, subscriptions, first paychecks: learning comes from lived situations.
Consistent
Short, repeated moments work better than one long explanation.
Going further
And with Lykha Pocket?
Lykha Pocket turns these principles into short missions, suited to each child's age, with tracking for parents.