When Do Kids Need to Learn About Money?

A little girl sitting on the floor with a piggy bank.

Children are never too young to start learning about financial literacy. Understanding money at a young age can help kids set good savings habits that can last a lifetime. According to the Teens and Personal Finance survey from Junior Achievement/The Allstate Foundation, 32 percent of teenagers believe that their parents don’t spend enough time talking to them about managing their money. This lack of a foundation can lead to poor spending habits and a misunderstanding of how their college educations will be paid for.

OneUnited Bank is committed to helping its members succeed financially, and the bank believes that starting to save at a young age is important. The bank offers options for younger people to start saving early. The Youth Membership is free and provides a free savings account to kids under age 18. This is a great way to start a life of saving. Stop into a branch or browse the OneUnited Bank website for more information.

OneUnited Bank also sponsors an annual financial literacy essay contest for children ages 8 through 12. The bank’s annual I Got Bank essay contest awards $1,000 savings accounts to three winners. The contest encourages middle school students from across the country to read “I Got Bank!,” a book written by Teri Williams, OneUnited Bank’s president. The book helps urban youth learn about finances.

Many schools are including financial literacy as part of their curriculums. The U.S. Mint has developed fun and engaging financial education programs for students as young as second grade. Another exciting program is Junior Achievement, which helps to inspire and prepare young people to succeed in the global economy.

Time for Kids is another great resource for helping children build their financial literacy. It publishes a free monthly magazine that uses stories from celebrities’ kids about their financial successes.

Kids love interactivity, and countless mobile apps allow them to play on their parents’ phones to have fun while learning about money. “Today” lists five of the best of these apps.

It is important for kids to begin understanding money from an early age. Whether they learn about it in school, read a book, play a game or ask their parents, financial literacy is an often overlooked but includes very important lessons that kids can’t afford to miss.

Elevate your finances with insights, because we all need answers. Sign up today!

Discover the OneUnited Difference.

Already have an account? Log in

Recent Articles

Silhouetted figure recording vocals in a dimly lit studio.
Social Justice

Musical Matriarchs: Black Women Leading Industry

Join us as we spotlight the unmistakable influence of women who have shaped the music landscape throughout history. Dance, rock & roll, and country all have origins within our community, inspiring legacies of innovation and disruption!

A stack of hardcover books with the top one opened on a wooden table and background.
Financial Literacy

7 Finance Books That Will Shift Your Money Outlook

This year, we’re filling our minds with the words and advice of the BEST that personal finance has to offer. Dive into these practical insights, visual guides, and transformative challenges to shape your path to financial empowerment!

A person stands in the center of a 3d maze with two question marks above their head, indicating confusion or the need to make a decision.
Financial Literacy

We Don’t Know What We Don’t Know

SummaryThrough spotlighting Keke Palmer and Ava Duvernay, we explore the challenges of navigating industries with limited access to information and representation. From Keke’s bold approach

It takes 5-minutes to start elevating your finances

See exactly where you’re spending money, how you’re achieving and how you can improve.