Money Lessons for Kids:
How to Raise Financially Savvy Young Adults

August 12, 2025

In today’s fast-paced, digital-first world, teaching kids about money is more important than ever. Financial literacy isn’t just about saving and spending—it’s about building habits that lead to long-term success. As parents, guardians, and mentors, we have the opportunity to shape how the next generation thinks about money. And with the right tools and guidance, we can raise financially savvy young adults who are confident and capable in managing their finances.

Why Start Early?

Children begin forming money habits as early as age seven. By introducing financial concepts early—like budgeting, saving, and goal-setting—we give them a head start in understanding the value of money and the importance of making smart choices.

Practical Money Lessons for Every Age

Here are a few age-appropriate ways to teach kids about money:

• Young Children (Ages 2–9): Use a clear jar or piggy bank to show how savings grow. Let them earn small amounts through chores and decide how to spend or save their money.
• Tweens (Ages 10–12): Introduce basic budgeting concepts. Help them set savings goals for items they want and track their progress. Opening a youth account is a great way to help them connect their physical cash and coins to digital banking by making deposits and monitoring their balance.
• Teens (Ages 13–17): Open a teen checking and savings account. Teach them how to manage a debit card, monitor transactions, and understand banking fees. This is also a good time to introduce tools like mobile banking apps and automatic savings features.
  

Your Partner in Financial Education:

MTC Federal offers a suite of Financial Education tools and services designed to support families in raising financially responsible kids:

🏦 Youth Accounts: Start your child’s financial journey with a Youth Account. These accounts are tailored for young members, helping them learn the basics of spending & saving while earning dividends on their balance.

💰 Savings Challenges: Make saving fun with savings challenges! Whether it’s a 30-day savings goal or a “save the change” challenge, these activities encourage kids to build consistent saving habits in a gamified way.

👛The Savings Jar Feature: Available through MTC Federal’s Digital Banking, the Savings Jar feature automatically rounds up purchases to the nearest dollar and deposits the difference into savings. It’s a simple, effective way to grow savings without even thinking about it—perfect for teens learning to manage their own spending.

👨‍👩‍👧 Parental Guidance and Support: MTC Federal provides resources and guidance for parents to help navigate financial conversations with their children. From budgeting tools to educational workshops, you’re never alone in teaching your kids about money.

Final Thoughts

Raising financially savvy young adults doesn’t happen overnight—it’s a journey built on everyday lessons, consistent habits, and supportive tools. With MTC Federal by your side, you can empower your children to take control of their financial future with confidence.

Ready to get started? Visit any MTC Federal Credit Union location or visit our youth accounts page to explore account options, savings tools, and educational resources designed for families.