At Legacy National Bank, we believe it’s never too early to start building strong financial habits. Teaching your kids about money not only helps them understand the value of a dollar, but it also gives them confidence to make smart choices as they grow.
Here are practical tips to help you raise money-savvy kids — and set them up for financial success.
Start Early with Simple Lessons
Even young children can grasp basic concepts like saving and spending. Use everyday activities — like grocery shopping or paying bills — to explain where money comes from and how it’s used.
Tip: Give them coins to count or let them “help” at checkout to introduce the idea of making purchases.
Use an Allowance as a Teaching Tool
An allowance is a great way to give kids hands-on practice managing money. Consider setting clear guidelines:
- A portion for spending
- A portion for saving
- A portion for sharing or donating
This helps them learn to budget and make thoughtful decisions with their money.
Encourage Goal Setting
Help your child set a savings goal, whether it’s a new toy, a bike, or a special outing. Seeing their savings grow and eventually reaching their goal teaches patience, planning, and the rewards of persistence.
Open a Savings Account
When your child is ready, consider opening a savings account at Legacy National Bank. Visiting the bank and watching their balance grow helps kids feel invested in their financial future — and introduces them to the banking system in a positive way.
Talk Openly About Money
Money doesn’t have to be a mystery. Discuss how you budget, save, and make spending decisions. The more comfortable kids are talking about money at home, the more prepared they’ll be to handle it on their own.
Make It Fun
Games, apps, and activities can make learning about money enjoyable. Board games like Monopoly or digital tools designed for kids can reinforce good habits in an engaging way.
Let’s Build Financial Confidence Together
At Legacy National Bank, we’re here to support families at every stage of their financial journey. From savings accounts to financial education, we’re proud to be your partner in building strong money habits for the next generation.
Visit us at your nearest Legacy branch or online at legacybank.com to learn more about our savings options for kids.