Okay kiddo, so let's imagine we have a bunch of toys - maybe some Lego blocks and some action figures. We can call all these toys together a "collection". Now, when we say that this collection is "finitely generated", that means we can build it using only a certain number of things. Maybe we only have 10 Lego blocks and 5 action figures - but we can still build a pretty good collection with just those things.
Now, a "module" is a fancy math word that means we're using some rules to combine different things in our collection. So maybe we say that for every 2 Lego blocks we have, we can trade them for 1 action figure. Or maybe we say that if we have 3 red Lego blocks, we can trade them for any other color we want.
When we say that our collection is a "finitely generated module", what we're really saying is that we can build up this collection using only a limited number of rules or formulas. We don't need an infinite amount of Lego blocks or action figures to make it work - we just need to know a few basic rules and we can use them to create a cool collection.