Teaching Kids About Money

Set money goals with your child

Help pick one short-term and one long-term goal to motivate saving.

Explain needs vs wants using real examples

Use household items or toy choices to discuss priorities.

Set up a three-jar system

Create Save, Spend, and Give jars to make decisions visual.

Label Save/Spend/Give jars

Use clear labels or pictures for younger children.

Decide jar split percentages

Try a simple split like 50% save, 40% spend, 10% give and adjust.

Give a small weekly allowance

Tie to chores or give unconditional to teach money use; be consistent.

Teach coin and bill recognition

Practice identifying values and counting small amounts with real money.

Practice grocery shopping math together

Have your child compare prices, estimate totals, and check change.

Play money games or use kid-friendly apps

Use board games, role-play stores, or vetted apps to reinforce concepts.

Open a youth bank account

Visit a local bank or credit union to set up a custodial or youth account.

Set up a simple savings goal tracker

Use a chart, app, or jar labels to show progress toward goals.

Demonstrate compound interest with a simple example

Show how small regular savings grow over time using numbers or a calculator.

Teach online and card security basics

Explain not to share card numbers, passwords, or personal details online.

Review and adjust allowance, jars, and goals monthly

Revisit amounts and rules to match your child's age and understanding.