- Financial institutions and nonprofit organizations can help teach your child financial literacy.
- The FDIC Smart Money Alliance provides online and state-specific resources for parents.
- Minority Depository Institutions designated by the Federal Insurance Corporation (FDIC) provide services to disadvantaged communities.
- Read more stories from Personal Finance Insider.
Teaching your kid financial literacy is a daunting 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 may find local financial literacy programs, online educational platforms, or have opportunities to start conversations about how to start a program in your community.
FDIC Money Smart
Federal Deposit Insurance Corporation’s Money Smart financial education program offers online resources and tools to help teach people about finance. The program contains an age-specific curriculum, including guides to help educate young people.
“We developed Money Smart for Youth in response to data that shows there is a real need and opportunity,” says Luke Reynolds, FDIC’s Head of Outreach and Program Development. “We recognize that when engaging young people, we need to give parents, caregivers, and teachers tools they can use. It is not enough just assuming that everything will happen in the classroom or assuming that everything will happen at home. It happens together.”
If you’d like to see if a workshop or program is available in your area, check out the list of Money Smart Alliance members. You’ll find various participating banks and non-profit organizations with details about the curriculum areas covered and whether bilingual services are available.
Parents can also check out our free online parent/carer guides which may be ideal if you are looking for ways to start conversations on specific financial topics such as budgeting or borrowing money.
Banks and credit unions
One of the first places to look for financial education may be very close to home – your bank or credit union. Banks and credit unions often provide financial literacy education online or at local schools.
Domestic banks and FDIC-rated minority depository institutions, in particular, are more likely to have community involvement.
OneUnited Bank, a black-owned bank with branches in Boston, Los Angeles, and Miami, organizes an annual financial literacy book competition where children submit a 250-word essay after reading a financial literacy book.
“One of the reasons we started our article and art contest was because we had a hard time finding the resources,” says Terry Williams, president and chief operating officer of OneUnitedBank. “We couldn’t really find anything that reflected our community.”
Williams also mentioned that the bank’s Financial Education Center features online modules on topics such as budgeting and credit scores.
Another example is the Guadalupe Credit Union, a Hispanic-led bank in New Mexico.
Diane Sandoval-Grego, president of financial empowerment at Guadalupe Credit Union, says the credit union has hosted virtual events and supported the financial literacy curriculum in local schools.
“We have real-life exhibits where we go to high schools, and we simulate students to practice being adults. So they’ll get a job, they’ll have to buy a car, buy a house, and other expenses like insurance,” says Sandoval-Griego.
JumpStart . Alliance
The JumpStart Coalition is a nonprofit organization that includes federal agencies, national nonprofit organizations, and several banks.
Use this research tool to find out if your child’s school offers financial education.
If your school is not listed, you can fill out a form, and an alliance member can reach out to your school to start a conversation about starting a program nearby.
Additional Online Resources
If you would like additional online resources, check out any of the following government agencies or departments: