Children constantly observe and learn from people and the world around them. Therefore, one of the best ways to instill financial literacy in kids is to model good money habits.
A fun way to do that would be to pick out a piggy bank together, then deposit money they earn, find, or receive.
– Point out public companies they're familiar with (e.g., Disney, Mattel, Apple).
– Explain how regular people can buy a tiny piece of those companies.
Because of the hard work you and they put in over the years, your child will be more likely to care for the investments once they're in complete control.
You can then weave in financial literacy lessons by showing them how you spend less on the things you need to buy.
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