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When kids leave home, they face significant financial responsibilities, from creating a budget to making long-term investment decisions. Unfortunately, many are unprepared for these challenges.
Many kids grow up in households where parents aren’t comfortable talking about money, and financial education isn’t always included in school curriculums. As a result, a 2019 study by Experian found that 76% of Gen Z respondents wished they had taken a financial education class in school. In 2022, the Investopedia Financial Literacy Survey found that only one in four Gen Zers feel confident explaining the stock market to a friend.
The good news is that there are plenty of great money-related resources for kids on the internet and on library bookshelves—you just need to know where to look. Here are some of the best options for teaching your child essential financial skills that will serve them well into adulthood.
Key Takeaways
- Parents today can access a variety of resources to teach kids financial literacy, including podcasts, apps, books, and online classes.
- One unique resource is the Federal Reserve’s educational comic book series, available for free in both print and digital formats.
- Interactive courses, such as virtual investing and entrepreneurship classes from Juni, offer hands-on experience under the guidance of an instructor.
Million Bazillion (Podcast)
For young listeners curious about how the economy works.
How did our money-based economy begin? Why does pizza cost what it does? Why do you see ads when you watch TV or go on YouTube?
“Million Bazillion” is a kid-friendly podcast created by Greenlight, the financial services company. Hosted by two engaging personalities, the podcast covers the fundamentals of the economy, such as why products cost what they do, how ads work, and the importance of budgeting. Each episode includes trivia, interviews, and celebrity cameos, making it fun while delivering valuable financial lessons.
The podcast also touches on real-world applications of money management. For example, an episode about high schoolers using Greenlight’s app to save for a sports car presents an opportunity to discuss the pros and cons of digital money management. This can also serve as a chance to teach kids about consumerism and advertising.
Money With Mak & G (Podcast)
For kids who enjoy quick financial tips and real-life applications.
“Money With Mak & G” offers a lighthearted approach to financial literacy. Hosted by Ben Jones, a certified public accountant (CPA) and Certified Financial Planner (CFP), along with his 15-year-old twins, Makenna and Grant, the podcast covers topics like the basics of the S&P 500, how to budget for a pet, and the long-term effects of health on finances. Each episode is under 10 minutes, making it perfect for kids with short attention spans.
Sure, the hosts’ lighthearted repartee can get a bit corny at times, but most kids will come away with valuable money management skills. And a dad joke or two.
76%
The percentage of Gen Z respondents in a 2019 Experian poll who said yes when asked if they wished that they had had a financial education class in school.
Savings Spree (App)
For younger kids, ages 4-10, to learn the basics of money management.
Available on Apple devices, Savings Spree is an interactive app designed to teach young children the importance of saving, investing, and giving. The app’s engaging gameplay involves saving for short-term purchases, investing for long-term goals, and donating a portion of savings to charity. It costs $5.99 to download but offers a fun and educational way for kids to learn about money.
The Everything Kids’ Money Book: Earn It, Save It, and Watch It Grow! (Book)
For children who prefer reading to listening.
Is your son or daughter more of a reader than a podcast listener? “The Everything Kids’ Money Book” by Brette Sember is a great way to help them learn the basics of the economy and how to become more responsible with their money.
An excellent resource for kids ages seven to 12, it covers the basics of money, including how paper currency is made, how credit cards work, and how investing in stocks can help build wealth. Sember breaks down complex topics in a way that resonates with younger readers, making financial concepts easy to grasp.
Published by Simon & Schuster, the print edition has a list price of $9.99, and it is also available as an e-book and audiobook.
Federal Reserve Educational Comic Books
For kids who enjoy adventure mixed with learning about economics.
The Federal Reserve Bank of New York offers an engaging series of educational comic books designed to teach kids about money and economic concepts like purchasing power and monetary policy. The comic book series is part of an instructional resource for teachers, but parents can also download digital copies or request printed versions for free.
With colorful illustrations and creative storylines, these comics use imaginative characters, including aliens, to explain financial topics in a way that’s accessible to children.
Hands on Banking (Website)
For older kids and young adults navigating real-world finances.
The Hands on Banking website, sponsored by Wells Fargo, is designed for older children and young adults preparing to enter the world of finance. The site offers free, easy-to-understand articles and videos on topics like comparing student loan offers, paying taxes, and using credit cards responsibly. It’s an excellent tool for helping your kids transition from high school or college into adulthood.
Juni (Online Classes)
For kids interested in hands-on learning about investing and entrepreneurship.
If your children are interested in getting some hands-on experience playing the stock market or running their own business, online classes from Juni might be just the answer. These one-on-one, project-based courses provide a simulated environment where kids aged 9 to 18 learn the basics of investing, entrepreneurship, and building credit.
Courses run a pricey $68.75 per session, billed at $275 a month, although they can take their first class for free. This one may be more than most parents want to pay, but the free class will tell you if it’s worth it.
What Are the Best Mobile Apps for Teaching Kids Financial Skills?
There are innumerable options, many of them very good. For younger children, Savings Spree, Unleash the Loot!, and Kids Finance help kids learn important financial concepts such as delayed gratification. For teens, apps such as Investmate teach the basics of stock trading. And World of Money, for example, has lessons for kids of various age groups.
Are There Online Classes That Help Kids Learn Money Skills?
Though not exclusively a financial education platform, Juni has project-based courses that teach kids about investing, entrepreneurship, and basic money management. Other virtual education providers with financial literacy offerings (and lower prices) include EVERFI and Outschool.
What Are the Best Resources for Nurturing Financial Literacy in Kids?
The best resources depend on your child’s age, your goals, and your budget. For self-motivated children, publications such as “The Everything Kids’ Money Book” are a nice introduction to a variety of financial topics. For kids who need a little more interaction, online courses, such as those from Juni or Outschool, can be of help. And if they’re strapped for time, putting on a podcast such as “Million Bazillion” or “Money With Mak & G” can expose them to financial topics, even if you’re in the car.
The Bottom Line
Financial literacy is an essential life skill, and teaching your kids about money early can have a lasting impact on their financial well-being. With a wide variety of resources available—from books and podcasts to apps and online courses—parents can easily find tools that suit their child’s learning style and interests. By fostering a solid understanding of financial concepts, you’ll help your kids build a strong foundation for managing their finances as adults.
