Money lessons by age
Kids can learn about money at every age. Here's what tends to fit each stage, and one thing to try. Every child is different; start where yours is.
| Age | What they can learn | Try this |
|---|---|---|
| 3 to 5 | Money is swapped for things. Coins have names. We sometimes have to wait. | Let them hand money to a cashier. Play store with price tags. Read more |
| 6 to 8 | Counting coins. Needs vs. wants. Saving for something small. | Set up save, spend and share jars. Start a wish list. Read more |
| 9 to 12 | Earning, budgeting a small allowance, comparing prices, waiting for bigger goals. | Agree an allowance and what it covers. Open a first savings account together. Read more |
| 13 to 15 | Planning for bigger goals, online spending, ads and scams. | Let them manage a monthly amount for clothes or outings. Talk through online scams. Read more |
| 16 to 18 | Paychecks, taxes, debit cards, credit and saving for after high school. | Read a pay stub together. Set up a debit card with alerts. Talk about credit before 18. Read more |
General information for parents and caregivers. For free activities by age, see the CFPB's Money as You Grow and the FDIC's Money Smart programs.
Three things that work at any age
Talk out loud
Explain your everyday money choices.
Let them choose
And let small mistakes happen while stakes are low.
Be consistent
Same payday, same rules, every week.
Plan an allowance with the allowance calculator, or read talking about money at home.