- Financial institutions and non-profit organizations can help teach your child financial literacy.
- The FDIC Smart Money Alliance provides online resources and state-specific resources for parents.
- FDIC-designated minority depository institutions offer services to underserved communities.
- Read more stories from Personal Finance Insider.
Teaching financial literacy to your kid is a tall task, but you don’t have to do it alone. Many places offer free resources to help educate your child about financial topics, regardless of their age.
Below, we’ll highlight financial institutions, organizations, and additional resources you can explore. Through these options, you might find local financial literacy programs, online education platforms, or have opportunities to initiate conversations on how to get a program started in your community.
FDIC Money Smart
The Federal Deposit Insurance Corporation Money Smart financial education program offers online resources and tools to help teach people about financial topics. The program has an age-specific curriculum, including guides to help teach young people.
“We developed Money Smart for Young People in response to data showing that there’s a real need and opportunity,” says Luke Reynolds, chief of outreach and program development at the FDIC. “We recognize that in engaging in young people, we need to give parents, caregivers, and teachers tools they can use. It’s not sufficient just to assume everything will happen in the classroom or assume everything will happen at home. It happens in combination. ”
If you’d like to see if a workshop or program is available in your area, check Money Smart Alliance Members List. You’ll find different participating banks and non-profit organizations with details about the curriculum areas covered and whether bilingual services are offered.
Parents can also go through the free online parent / caregiver guides which may be ideal if you’re looking for ways to start having conversations about specific financial topics like budgeting or borrowing money.
Banks and credit unions
One of the first places to look for financial education may be pretty close home – your bank or credit union. Banks and
often provide financial literacy education online or in local schools.
Local banks and FDIC-designated minority depository institutions, especially, are more likely to have community involvement.
OneUnited Bank, a Black-owned bank with branches in Boston, Los Angeles, and Miami, has an annual financial literacy book contest where children submit a 250-word essay after reading a financial literacy book.
“One of the reasons that we started our essay and art contest is that we did find it difficult to find resources,” says Teri Williams, president, and chief executive officer of OneUnitedBank. “We really couldn’t find anything that reflected our community.”
Williams also mentioned the bank’s Financial Education Center features online modules about topics like budgeting and credit scores.
Guadalupe Credit Union, a Hispanic American-led bank in New Mexico, is another example.
Diane Sandoval-Griego, chief of financial empowerment at Guadalupe Credit Union, says the credit union has hosted virtual events and supported financial literacy curriculum at local schools.
“We have reality fairs where we go to the high schools, and we put the students through a simulation to practice being adults. So they’ll receive a job. They’ll have to buy a car, buy a home, and other expenses such as insurance, “says Sandoval-Griego.
JumpStart Coalition is a non-profit that includes federal agencies, national non-profit organizations, and several banks.
Use this search tool to see if your child’s school offers financial education.
If your school isn’t listed, you can fill out a form, and a member of the coalition can reach out to your school to initiate a conversation about starting a program nearby.
Additional online resources
If you’d like additional online resources, check any of the following government agencies or departments: