Raising Financially Wise Kids

Young investors have an asset that is priceless…Time!

Just as we help our clients manage wealth and plan for the future, we’re passionate about giving children and young adults the financial tools they can use the rest of their lives.

When it comes to teaching your kids and grandkids about money, starting early and continuing the conversation as they grow is one of the best ways to invest in their future.

Ready to open a 529 Plan?

A 529 plan is a smart way to save for future education costs – and a great first step in setting your kids up for success. Call our office and we’ll walk you through it.

Ages 3-5: Introducing Simple Money Ideas

Start laying the foundation! Tangible tools like a clear piggy bank can help them “see” their money grow. Offering a modest allowance gives them something to manage. Encourage saving toward a specific toy to introduce patience and goal-setting.

Ages 6-8: Giving Money Meaning

This is a great time to get them thinking about how money is earned – whether through chores, small tasks, or their own creative ideas – and the difference between spending now versus saving for something special. Introduce the idea of dividing money into categories like saving, spending, and giving, and even begin planting early seeds about investing.

Ages 9-11: Building Confidence and Responsibility

With growing independence, children are able to take on more responsibility. Opening a custodial or savings account can be a meaningful next step, helping them track deposits, choose their investments, and feel empowered by their progress. Consider setting a “default” savings rate for allowances or gifts, or even matching a portion of what they save to encourage consistent habits.

Ages 12-18: Applying Real-World Lessons

Whether it’s managing a summer job paycheck, budgeting for social outings, or understanding the true value of a dollar, this age is rich with learning opportunities. Rather than covering every expense, you might consider offering a budget and encouraging teens to plan within it. Reviewing account activity together and expanding on investment knowledge deepens their understanding of how money flows and grows.

Ages 19-22: Practicing Independence with Support

As young adults step into the world of college, first jobs, or independent living, financial decisions become even more impactful. Conversations around credit cards, bill payment, budgeting apps, and saving for future goals can empower them to take ownership while still having a trusted guide by their side.

Know a child or teen who could benefit from learning smart money habits?

Sign them up to receive information on our upcoming Kids Ca$h Club by emailing us at:
KidsCashClub@castlecoast.com Subject: Kids Cash Club!