Tips to Help You Raise Money-Smart Kids
This time of year is more than just new backpacks and sharpened pencils; it’s also the perfect time to teach kids how to manage money wisely. From setting savings goals to understanding everyday banking, the earlier children learn, the more confident they’ll be with their finances as adults. At The Peoples Bank, we’re here to support parents and students every step of the way.
1) Start with Real-World Experience
There’s no substitute for hands-on knowledge. That’s why we offer the Teen Green checking account, designed specifically for students beginning their financial journey. Paired with a debit or credit card and parental oversight, it gives teens the chance to manage their spend patterns, track purchases, and build healthy money habits in a secure, monitored environment. This account converts to Freedom Green Checking at 18, which then converts to a Peoples Checking account at 25.
2) Encourage a Savings Mindset Early
It’s never too early to open a savings account. Whether your child wants to save birthday money, summer job earnings, or allowance, a dedicated savings account helps them set goals and watch their money grow. Our youth savings options, especially the School Savings Program, are simple to manage and include features that make saving worthwhile, such as no monthly fees and digital tools to track progress. At participating schools, students can even make deposits right on campus. Also, our Cents Up program allows anyone to save by rounding up their purchases to the next dollar, with each round-up deposited into a designated account.
3) Online Banking That Grows with Them
Digital banking comes naturally to today’s students. With our easy-to-use Green 2 Go mobile app and online banking platform, young account holders can check balances, set alerts, and learn how to track transactions in real time. It’s an excellent way for kids and teens to become familiar with their accounts while parents stay in the loop with optional oversight features.
4) Financial Literacy Resources for All Ages
Understanding how money works shouldn’t be a mystery. We provide access to free financial education resources, both online and at one of our 17 branches, that cover everything from how to create a budget to credit scores and fraud prevention. These tools help start important conversations at home and support successful lifelong financial habits.
5) Credit-Building Tools for College-Bound Students
For older teens preparing for college or entering the workforce, we offer options to begin building credit responsibly. With a secured credit card or student credit card (with parental co-sign), young adults can start to develop a positive credit history and learn how to borrow and repay within their limits.
Helping Families Plan for the Future
We’re here to help you raise financially capable kids and we know it takes patience, practice and the right tools. Whether you’re opening your child’s first savings account or helping your teen navigate their first paycheck, The Peoples Bank is here to help make the process easy. Stop by your local branch or visit us online to learn more about our youth and student banking options.