Developing habits like planning ahead, saving, and setting goals helps children achieve financial well-being into adulthood.

By early elementary age, your child can develop the following skills and knowledge:

• Understanding the concept of “time” and “future”
• Planning ahead and saving for what they want
• Making money choices that align with goals and values
• Understanding basic financial concepts, like saving and spending, how money is earned, different methods of paying, and sharing or donating

Tip: Remember that you are teaching your child about money and modeling behaviors every day. Your daily financial decision-making provides an opportunity to teach financial skills. Make your next visit to the grocery store, bank, or gas station a financial lesson.

Resources and Activities for Kids:

• NEW: The THINKING MONEY FOR KIDS website offers tools and activities to help young people get started on the path to financial literacy.
• The Sesame Street in Communities program offers financial education resources and activities for kids. We also encourage you to check out the PBS show BizKid$, where you’ll find fun games and more!
• Download the FDIC’s Money Smart for Young People for fun ways to help your kids get smart about money.
• The Consumer Financial Protection Bureau has conversation starters and activities to do with your kids, including more information about the Money as You Grow Bookshelf.
• Visit the US Mint for fun games, activities and coloring books.

Did you know that children who have a college savings account are more likely to go to college, even if they only have a small amount saved?* Starting early will allow your savings to grow over time and will provide your child with more options later on. Start small and encourage your child to dream big!

By early elementary age, your child can develop the following skills and knowledge:

• Understanding that college costs money
  
• Learning that skills are valuable tools
• Identifying places where they could go to college
• Making money choices that align with goals and values

Tip: Teach your child about money and saving for the future by creating ways for them to earn money. Help them to make a plan for their spending and saving. An allowance for chores is a great way to get them started on a path to financial success. It will allow them to start a habit of saving for the future.

Resources and Activities for Kids:

• NEW: Cha-Ching™ has developed Money Smart Kids, a collection of family financial education resources, videos, and activities to help support a strong financial future.
• Meet the Money Monsters! This series of books from the Consumer Finance Protection Bureau, featuring fun characters, will introduce your child to the topic of savings, as well as other important financial concepts.
• Check out The Four-Bank System and other activities through the US Mint, including a free Parent Guide.
• Show your child the impact of saving over time with this free compounding calculator from Northwestern Mutual.
• Download a free family activity booklet from Scholastic.

*Assets and Education Initiative, Building Expectations, Delivering Results: Asset-Based Financial Aid and the Future of Higher Education, in William Elliott (Ed.), Biannual report on the assets and education field, (Lawrence, KS: Assets and Education Initiative, 2013).

Parents and caregivers play a powerful role in guiding their child toward a successful future. The earlier your child begins to think about and explore future education and careers, the more time you’ll have to plan and discuss ways to build skills to achieve those dreams.

By early elementary age, your child can develop the following skills and knowledge:

• Having conversations about future goals and aspirations
• Making educational choices that align with goals and values
• Discussing various jobs and the duties related to them
• Understanding that schools offer different programs
• Understanding basic college-related terms

Tip: One of the best ways to support your child’s future is to show them that you value education. Getting to know their teacher (either in person or through email) and attending school events is a great way to support your child. Making sure that they arrive at school on time every day creates the habit for lifelong learning. If you are attending college yourself, or know of someone who is, visit the campus and talk with your child about what the program means.

Resources and Activities for Kids:

• NEW: Visit theMint.org to learn about earning, saving, spending, and giving!
• Introduce your child to Claim Your Future®, a fun online game designed to teach youth about future careers, education, and money management.
• Download NextGen 529’s Talk about the Future conversation starters for more ideas.
• Download FAME’s Cash & Max coloring book or activity book to help your child learn about education and future careers.
• Visit StudentAid.gov for a list of activities that kids and parents can do to make learning fun and to think ahead toward college.