Financial education helps children make smarter choices as they grow. Just like any other subject, conversations about money should match a child’s age and stage of life.

Here are some practical tips for parents ready to start the money conversation with their kids:

Talk About the Good and the Bad

When discussing money with your kids, share both the choices that worked well and the ones that didn’t. Learning from your experiences can help them avoid common financial mistakes and make smarter decisions as they grow.

Give Real-World Examples

Beyond simply explaining financial concepts, it’s helpful for young people to learn how to perform common money tasks, such as writing checks or tracking debit card expenses.

Also, consider providing examples of how to save money. For instance, if a young person has a summer job and is earning their first paychecks, demonstrate how saving a fixed amount each week or month can add up over time.

Practice Makes Perfect

Whether you start by giving your child a small allowance or allow them to earn money through household chores like mowing the lawn, having some money to manage is the first step toward developing effective financial habits.

If you implement a way for your child to earn or receive money, offer guidance on how to manage it to help them form good habits early.

First Commerce Credit Union offers financial solutions designed to help young people set themselves up for a bright financial future.

Squirrel Away Some Money:

Designed for newborns through age 12, First Commerce’s free Sammy Squirrel Kids’ Club Savings Account teaches kids smart money habits and helps you save for their future. Teach your child how to “squirrel away” money the fun way!

Get a Smart Start:

FCCU’s free SmartStart Checking account gives teens (age 13–17) practical budget experience through their instant-issue debit card and digital banking. With no fees, four free non-FCCU ATM withdrawals monthly, and digital wallet options, it’s designed for young users.

Round Up and Save More:

Pair a SmartStart Checking account with an EvenUp Savings account and help young people begin to understand the power of saving and compounding interest. With EvenUp, each debit purchase is rounded to the next dollar, transferring the difference to savings where it earns an interest rate that is higher than the national average of a traditional savings account.

First Commerce Credit Union provides this content to inform and inspire. While we strive for accuracy, we do not guarantee this information is accurate, complete or current.  This information is not professional advice (tax, legal, financial, etc.) and should not replace your individual consultation with qualified advisors. Laws, rules, and personal circumstances can change, so please verify how this information applies (or does not apply) to your situation and location. All decisions remain your responsibility. First Commerce Credit Union and its affiliates and employees assume no liability for outcomes resulting from the use of this material.