Money skills for families
Teaching Children and Teens About Money
Young people build money skills through practice and conversation. Families can use ordinary choices to introduce saving, spending, planning, and the difference between needs and wants.
Start with a simple goal
Help a child choose something they would like to save for, estimate its cost, and track progress. A visual tracker or regular check-in can make the connection between setting money aside and reaching a goal easier to understand.
Practice making choices
Give children age-appropriate opportunities to compare prices, plan a small budget, and decide how to divide money among spending, saving, and giving. Talk through trade-offs without treating a single approach as right for every family.
Build digital awareness
As teens begin using digital payments, discuss how transactions work, how to protect passwords and verification codes, and why they should pause before responding to unexpected payment requests. Review privacy and safety settings together.
Keep the conversation open
Financial habits develop over time. Encourage questions, adapt activities as a young person grows, and use mistakes as a chance to discuss what happened and what they might do next time.
Explore Noven CreditUnion’s young adult banking information for available services and terms.