Money can be confusing—especially when you’re just starting out. From budgeting and saving to credit cards and student loans, there’s a lot to learn. That’s why it’s so important to teach kids and teens about money early on. Doing so sets them up for a lifetime of financial confidence instead of stress.
Children who develop strong money skills early tend to manage their finances more effectively as adults. When it comes to paying for college, for instance, students who understand personal finance are more likely to secure lower-cost loans and grants—and less likely to fall back on high-interest credit cards.
Think about it: budgeting helps them cover essentials and still have fun. Understanding credit can keep them out of debt traps. And learning to save and invest early sets the foundation for long-term financial freedom.
So, how can we start teaching them about money? It doesn’t have to be complicated. Simple, everyday conversations can make a big impact. Show them how to create a budget, talk openly about smart spending choices, and introduce tools that make money management easier. The more they know now, the better prepared they’ll be later.
Looking for a place to start?
For early learners, check out this 5th grade Financial Literacy unit from Khan Academy to get the conversation rolling. It covers essentials like taxes, income, budgeting, and more. Want to go deeper? There’s a great personal finance course for adults as well—because it’s never too late to boost your own money skills, too.
Financial independence starts with knowledge—so let’s make sure the next generation is ready to thrive.
NEXT STEPS
Help your child take charge of their finances with a BankGloucester Student Checking Account. It’s a smart way to begin the financial journey—with built-in money management tools, budgeting features, and rewards that help young adults make the most of their money. Learn more about Student Checking Accounts here.
Have questions or need help getting started? We’re here for you. Email us at info@bankgloucester.com or call 978-283-8200.
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