Helping Kids Build Strong Financial Habits for Life

As summer begins, many families have kids in transition: moving to middle school, starting high school, or graduating and heading to college. At Sente, our purpose of creating financial possibility extends beyond home loans. We are passionate about financial literacy for kids and have developed a Sente Kids Smarter Money Moves Resource Center with helpful materials and recommended reading. Here is a brief summary of some age-specific key concepts:

5–7 years old: Differentiate between coins and bills, receive a small allowance, and understand that basic items like food, gas, and clothing cost money.

8–9 years old: Learn the concept of having enough money to make a purchase, making change, and taking responsibility for keeping money safe.

10–13 years old: Receive a larger allowance along with increased purchasing responsibility, understand and open a savings account.

14–16 years old: Open a checking account and maintain a balance, earn money, and connect work with pay.

17–19 years old: Create and use a budget, learn about credit, and understand compound interest.

Being proactive with teaching kids about money can help establish good financial habits for life.