Parent Zone

Money Lessons by Age

It's never too early or too late to start teaching your children about money. Like other important life lessons, it is best to have a starting point. Try using these key concepts to help explain saving and spending, as you show your kids how to navigate the road to financial success.

3-5 YEARS

Help your children understand the number value of coins and bills, why working leads to earning, how to save with a piggy bank, and the difference between wants and needs.

6-10 Years

Learn when it’s time to move from piggy bank to savings account, how to talk about dividends, why to use chores to set an allowance and the importance of planning before spending.

11-13 Years

Discover the savings match principle, when to teach your kids about ATMs and debit cards, how to explain the value of giving back and why to set savings goals for big purchases.

14-17 Years

Encourage your teens to pursue a part-time job, learn how to map out monthly expenses, see why to brief them on tax deductions and get tips for helping them use credit responsibly.

18+ Years

Find out how to help your young adult build a budget, open their first checking account, apply for their first credit card, and learn the importance of both investing and retirement savings.

Understanding Money

We all learn concepts differently, especially in each stage of growth. So, here is a helpful visual tool to know what and when to discuss with your children on their financial journey.