Free Financial Literacy for Kids

At Scott Credit Union, we believe teaching children the value of money is one of the most impactful gifts a parent can give. Whether you are in the Metro East, St. Louis, or the Chicago area, our goal is to help every child become a “Future Champion” of their own finances.

Providing free financial literacy for kids isn’t just about math; it’s about building the foundation to save, spend, and share wisely.

Why Should Financial Literacy for Kids Start Early?

Research shows that many financial habits are formed as early as age seven. By introducing money lessons for kids now, you are creating a “sandbox” for them to practice making decisions before the stakes get higher. This foundation is essential for long-term financial security and success.

Age-Appropriate Money Lessons for Kids Ages 3-6

At this stage, financial literacy is all about recognition and basic concepts:

• The Clear Jar Method: Use a clear container so they can physically see their money “grow.”
• Wants vs. Needs: Use your next trip to a grocery store to point out the difference between a “need” (milk) and a “want” (candy).
• Coin Identification: Play games to help them distinguish between pennies, nickels, dimes, and quarters.

Building Foundations: Money Lessons for Ages 7-12

As your child enters elementary school, they are ready for the tools of a real financial institution.

• Open a Kidz Club Account: This is the perfect youth savings account for beginners. Our Kidz Club Account makes saving fun with our “Big Barkers” theme and offers a higher interest rate on the first $1,000.
• The Power of Interest: Explain how Scott Credit Union pays them just for keeping their money in their account.
• Great Grades Program: Show them that hard work pays off, literally! Our Great Grades Program rewards student members with money for “A”s (up to $10 per semester).

Real-World Practice: Money Lessons for Teens Ages 13-17

For teenagers, financial literacy means practicing independence with parent oversight.

• Transition to Teen Share: Move from a basic savings account to a Teen Share Account. This provides them with hands-on experience managing their own money while keeping you as a joint owner.
• Introduce Student Checking: Pair their savings with a Student Checking Account to teach them how to manage a daily balance.
• The First Debit Card: Give them real-world practice with a teen debit card. It’s a safe way to learn about digital spending and tracking transactions via the SCU mobile app.

How to Find Free Financial Literacy Resources Near Me

You don’t have to teach these lessons alone. As a community-focused credit union, Scott Credit Union provides several free tools for families:

• Interactive Tools: Visit our website org for educational guides and calculators.
• In-Branch Education: Stop by any of our branches in Missouri and Illinois to let our team walk your child through their first statement.
• Community Events: We regularly support local financial education initiatives across the St. Louis and Chicago regions.

Start Your Future Champion’s Journey Today

Ready to give your child a head start? It only takes $5.00 to open a youth savings account and begin their financial legacy.

Apply online today or visit a Scott Credit Union branch near you in Missouri or Illinois.

Written by Scott Credit Union