In 2025, parents can set the tone for their kids’ financial success.
Financial literacy is a skill that most people learn well into adulthood–but that does not need to be the case for your children.
At the Academy Group, we recognize it’s never too early to start investing in your kid’s financial independence and helping them develop healthy money habits. We propel our members’ wealth-building journey as early as elementary school, establishing a strong foundation for a successful financial future.
Here are a few tips on how to get your kids to start building a healthy relationship with money at every stage of their learning.
Elementary School Stages
At this stage, you may introduce your kids to the concept of building wealth over time and the benefits of spending wisely.
- Help them plan and practice self-control when it comes to spending. If they want a new game or go to a special event with friends, you can tell them that budgeting can help them afford those plans. They will learn that stopping themselves from making unnecessary purchases and applying positive frugality can help them achieve their financial goals.
- You can introduce them to money apps that track spending, and help them save and accumulate rewards. Talk to them about being intentional with every purchase and encourage them to consider things like quality and timing when it comes to buying a new item.
As part of the Academy Group program, members gain hands-on experience in managing wealth and financial planning. We also support qualified members in opening college savings accounts with an initial contribution from the Academy, empowering them to dream big and pursue higher education and professional success.
High School Journey
High school is a great time to re-emphasize the value of money to your kids, so they feel empowered to make their own decision with a sense of responsibility.
- You may help them open a bank account if it has not happened already. If your kid has a part-time job, encourage them to look at the breakdown of their paycheck, track their account balance, and slowly build the habit of looking at their monthly statement to understand where their money goes.
- You can make them responsible for certain bills. Whether it’s contributing to their phone plan or an app subscription, they will develop the habit of setting up automatic payments and keeping enough money in their account to cover those expenses.
- Get them to start building good credit with a low-maintenance credit card. This is a good opportunity to talk about how building good credit from an early age will make a difference in the long run.
- With college on the horizon, start the conversation about scholarships and grants. Together, you can start looking for ways to contribute to tuition. You may also share anecdotes of how you earned and managed money when you were their age.
As members aspire to higher education, understanding wealth building and the costs of college or trade school becomes essential. Our advisors provide guidance through the complex application process and financial aid opportunities. Through our Opportunity Scholarship Awards, we empower members to graduate debt-free.
College
As young adults in college, your kids may feel comfortable making their own financial decisions. The guidance and support they receive from you will help solidify their money habits.
- By this age, your kids understand the power of saving. You may motivate them to have an emergency fund that can help them deal with unexpected situations in college without having to experience a major financial setback.
- Don’t stop looking for financial aid opportunities that can help you cover college costs and ease the burden of student loan debt. Always check with the university’s financial aid office, local associations, and private and non-profit organizations.
- Make the most out of student discounts on electronics and software, restaurants, and clothing. College students may benefit from substantial deals from Apple, HP, Amazon Prime, Spotify, DoorDash, Chick-fil-A, American Eagle, Nike, and so many more.
- As they start exploring their careers, emphasize the importance of paid internships. This is a chance to build on professionalism, understand the job market, and gain experience while earning money.
Learning is a lifelong journey, but by the time our members complete the program, they are equipped with the wealth-building knowledge needed to make informed financial decisions. The Academy Group’s mentoring and networking programs open doors to paid internship opportunities, providing access to career paths that might otherwise be out of reach.
