Financial Literacy Resources for Children of all ages

Financial Literacy Resources for Children of all ages

May 29, 2024

Financial Literacy Resources for Children: Geared for Learning and Engagement

Here are some specific resources to help children dive deeper into financial literacy:

Online Courses and Interactive Tools:

  • EVERFI Financial Literacy: This free course offered by EVERFI covers budgeting, credit, saving, and investing, all with a user-friendly interface.
  • National Endowment for Financial Education (NEFE)  Literacy Programs: NEFE offers a variety of online resources, including interactive games and quizzes, to learn about personal finance concepts [National Endowment for Financial Education Literacy Programs].
  • Banzai: This online platform offers gamified financial literacy simulations that let students make real-world financial decisions in a safe environment (subscription required) [Banzai].
  • Mint.com: While primarily a budgeting tool, Mint offers a blog with articles and resources specifically geared towards young adults entering the financial world [Mint.com blog].

Mobile Apps:

  • Greenlight: This app allows teens to learn about budgeting and responsible spending with the help of a linked debit card (parental controls included) [Greenlight].
  • Digit: This app helps young adults save money by automatically transferring small amounts into a savings account based on spending habits [Digit].
  • YNAB (You Need a Budget): This budgeting app offers a free student plan and teaches valuable financial management skills [YNAB].

Additional Resources:

  • Federal Trade Commission (FTC) Money Matters for Young Adults: This FTC website provides a wealth of resources on topics like credit, student loans, and avoiding scams [Federal Trade Commission Money Matters for Young Adults].
  • The National Endowment for Financial Education (NEFE) High School Resources: NEFE offers a comprehensive library of downloadable resources, lesson plans, and activities for high school educators [National Endowment for Financial Education].
  • Schwab MoneyWise: This platform by Charles Schwab offers free financial literacy workshops and resources specifically designed for young adults [Schwab MoneyWise].

Remember:

  • Encourage your teen to explore these resources and find ones that fit their learning style.
  • Supplement online learning with real-world experiences like opening a student bank account or getting a part-time job.
  • Discuss financial concepts as a family. Open communication helps teens feel comfortable asking questions and making informed financial decisions.

By taking advantage of these resources and fostering a culture of financial literacy at home, children can gain the knowledge and confidence to manage their finances effectively throughout their lives.