Kids & Finance

At FineMark Bank & Trust, a division of Commerce Bank, we believe it’s never too early to build healthy financial habits. This lesson introduces the concept of needs versus wants- a foundational skill that helps children make better decisions with money as they grow. When kids learn to pause and think before spending, they’re already on the path to smart financial choices.

Core Concepts
• A need is something essential like food, shelter, or clothing.
• A want is something you’d like, but don’t need to survive—like toys or treats.
• People make choices every day about how to spend money—and compare value.
• Opportunity cost is what you give up when you choose one thing over another.

Talk About It: Ask Your Child
• What’s on your wish list?
• What’s something you truly need?
• What is money and why do we use it?
• If you had $50, how would you use it, and why?
• What did you give up today to do something else?

Try This
• ‘I Spy’ Needs vs. Wants: Take turns identifying items at home and decide together—is it a need or a want?
• Shopping List Sort: Create a family shopping list. Ask your child to label each item as a need or want and prioritize.
• Grocery Line Game: While waiting at checkout, review items placed near the register. Talk about impulse buying.
• Opportunity Cost Walk: Take a walk and discuss choices—“If we go left, we miss the park; if we go right, we skip the store.”

Understanding how to set goals and recognize the influence of advertising, can help children make smarter choices with their money. In this lesson, kids learn the difference between short- and long-term goals and how saving over time can help them achieve what matters most.

Core Concepts
• A goal is something you plan to achieve.
• Short-term goals are things you want to achieve soon (this week or month).
• Long-term goals take longer (a year or more—like saving for college).
• A savings goal is the amount of money set aside for something in the future.
• Ads (short for advertisements) are designed to persuade people to spend. Recognizing this helps kids make better choices.

Talk About It: Ask Your Child
• What’s one of your short-term goals? How do you plan to reach it?
• What is a long-term goal you have?
• What ads did you see today?
• How did that ad try to convince someone to buy something?

Try This
• Create a Goals Chart: Share and write down your short- and long-term goals with your child. Track your progress together.
• Talk About Ads: Use TV or online ads to discuss the purpose and methods of advertising.
• Doctor’s Office: Look at magazine ads and ask how they influence people.
• Bank Visit: Open a savings account and let your child save toward a long-term goal.

Learning how to budget empowers kids to make thoughtful choices with their money. This lesson helps children understand how to create a plan for their income, set spending limits, track expenses, and save for the future.

Core Concepts
• A budget is a plan for how to spend and save your money.
• Spending limits help prevent overspending and running out of money.
• “Pay yourself first” means saving some money before spending any.
• Budgets can be adjusted—they’re flexible and can change over time.

Talk About It: Ask Your Child
• If you received $10,000, what would you do with it?
• What are some things grown-ups need to budget for?
• What are some ways you can save more money?
• How could we work together to save as a family?

Try This
• Mini Business Budget: Help your child brainstorm and launch a small business. Track expenses, income, and calculate profit together.
• Grocery Planning: Review flyers, make a shopping list together, and compare deals.
• Store Budget Challenge: Give your child a set amount to spend at the store. Track whether you stay within budget.
• Track Receipts: Collect grocery receipts for a week or more. Add them up and look for ways to save.
• Use a Check Register: Request one from your bank or print one online. Let your child use it to track family spending.

This lesson introduces children to the concept of saving and why it matters. Kids explore how banks work, what interest is, and how saving helps prepare for both big dreams and unexpected expenses. This lesson encourages children to build strong habits by saving in a safe, secure place.

Key Concepts
• A bank is a place where people can store money and earn interest over time.
• Saving allows you to plan ahead, prepare for surprises, and reach long-term goals.
• Interest is the extra money you earn from banks for keeping money in a savings account.
• Emergency funds are important because life doesn’t always go according to plan.

Talk About It: Ask Your Child
• If someone gave you $20, would you save it or spend it? Why?
• What’s something unexpected we might need to pay for?
• What are you saving up for? How will you reach that goal?
• Why might it be a good idea to keep your money in a bank?

Activities to Try
• Decorate a Savings Jar: Let your child design a container to collect change and gift money.
• Open a Savings Account: Visit your local FineMark office or other bank to start a savings account.
• Review Account Growth: After a few months, check the balance of the saving account together and talk about the interest earned.
• Explore Youth Banking Programs: Ask your school or bank about programs that let students practice saving in real life.

Lesson 5 introduces children to different ways to pay—cash, debit, credit, and checks. It helps children understand the difference between borrowing money and using money already saved and encourages good habits around sharing personal information.

Core Concepts
• Cash is physical money—coins and bills—that you use to pay immediately.
• Debit cards draw directly from your bank account.
• Credit cards let you borrow money, which must be paid back, usually with interest.
• Checks are a type of debit payment—an order to withdraw money from your account.
• Personal and financial information should be kept private to protect against identity theft.

Talk About It: Ask Your Child
• Have you ever lent something to a friend and not gotten it back?
• How do you decide whether someone is trustworthy to borrow or lend money?
• What would you do if someone online asked for your personal information?
• If you had a credit card, how would you use it?

Try This
• Play Customer and Cashier: Use loose change to role-play paying with and making change from cash.
• Practice Using Checks: Demonstrate how checks work and visit themint.org with your child for check-writing practice.
• Review a Credit Card Statement: Show how to read a statement and explain interest and due dates.
• Grocery Store Challenge: Estimate total spending while shopping and discuss how you’ll pay—cash, debit, or credit.
• Visit an ATM: Show how money is withdrawn from a real account—not just “free money.”

Giving isn’t just about money—it’s about making a difference. Teaching children to give to others builds empathy, gratitude, and a greater understanding of how their actions can create positive change. In this lesson, kids explore what it means to give, how to choose causes they care about, and how to include charitable giving in their financial plans.

Key Concepts
• Charity means helping others in need—people, animals, or communities.
• Donations can be money, items like clothes or toys, or time spent helping.
• Giving should be part of a financial plan, just like saving and spending.
• Involving children in giving builds lifelong generosity and values.

Talk About It: Ask Your Child
• Have you ever received help from someone? How did it feel?
• Have you ever helped someone? What was that experience like?
• If you had $10,000 to donate, who or what would you help—and why?
• What problems in the world do you wish you could help fix?

Try This at Home
• Donate Money: Choose a cause your child wants to help and help them save or raise money to support it.
• Donate Clothes or Toys: Clean out gently used items and bring them to a nonprofit together.
• Volunteer: Spend time helping others as a family—at a soup kitchen, nursing home, or local event.
• Food Drive at the Store: Give your child a $5–$10 budget to buy items for a local food bank. Look for donation bins during the holidays or start a neighborhood drive.

Middle school is an ideal time to explore how interests can grow into careers. At this stage, kids are starting to earn money through gifts, chores, or part-time jobs—and they’re thinking more about what money can buy. By connecting schoolwork to career options, we help them see how effort and education lead to opportunity.

Key Concepts from the FDIC Money Smart Curriculum
• Job vs. Career: A job is a position of employment with specific duties and regular compensation. A career is a long-term professional path that often requires training or education.
• Education Matters: Continued learning through college, trade schools, or apprenticeships increases opportunities and income.
• Earning Income: Income includes wages, allowances, and gifts. It’s important to understand taxes and deductions.
• Why We Pay Taxes: Taxes fund services like schools, hospitals, and roads. Learning about taxes encourages civic responsibility.

Words to Know
• Income: Money earned through work or received from other sources
• Job: A specific duty, task, or activity someone completes using his or her time, skills and energy to earn money
• Career: A long-term professional path requiring skill, education, or training
• Payroll Deduction: Amounts withheld from your paycheck for taxes or other contributions
• Income Tax: A percentage of earnings paid to the government for public services
• Tax: Money collected by the government to provide public goods and services

Conversation Starters … Ask Your Teen:
• What kind of career sounds exciting to you?
• What are some subjects you enjoy in school? Could they lead to a career?
• Have you ever earned money? What did you do with it?
• Why do you think we pay taxes? What public services do you use?

Try This at Home
• Review a Pay Stub: Show your child a real or sample pay stub and discuss deductions and take-home pay.
• Shadow Tax Prep: Let them observe how taxes are prepared and what paperwork is needed.
• Create Earning Opportunities: Encourage small business ideas like babysitting or dog walking.
• Explore Career Paths: Use mynextmove.org to research careers based on their interests.
• Point Out Public Services: Highlight how tax dollars support schools, roads, and safety services.

Young people are consumers—and they’re learning to navigate a world full of choices and advertising. As middle schoolers begin to make more independent financial decisions, it’s the perfect time to teach smart spending habits. This includes understanding needs versus wants, recognizing advertising tactics, and making thoughtful spending choices based on values and goals.

Key Concepts
• A budget is a spending plan that helps track income and expenses.
• Opportunity cost means giving up one option to pursue another—every spending decision is a trade-off.
• Needs are essentials like food, clothing, and shelter; wants are extras.
• Smart shoppers compare prices, consider alternatives, and evaluate purchases before spending.
• Financial goals help guide decisions and promote delayed gratification.

Conversation Starters
• How do you decide what to spend your money on?
• What do you think makes someone a smart shopper?
• If you want something that costs more than you have, what are your options?
• What’s something you regret buying—and what did you learn from it?

Try This at Home
• Watch TV or browse ads with your child and discuss the tactics advertisers use.
• Create a simple budget together for a personal savings goal (like a new game or tech item).
• Clean out closets and talk about needs vs. wants based on what gets used or not.
• Let your child guess the price of common household items—then reveal actual costs.
• When making a big purchase, walk your child through your decision-making process.

Saving money is a foundational habit for long-term financial success, but it’s also one of the hardest to start. Many Americans don’t have enough set aside to cover even a few months of unexpected expenses. That’s why it’s so important to help young people understand the value of saving early—and consistently. Whether they’re setting aside money for a big purchase, an emergency, or long-term goals like retirement, building strong saving habits starts now.

At FineMark, we encourage families to talk openly about money goals, the difference between needs and wants, and how to “pay yourself first.” Helping your child understand why we save—and how savings and investments grow over time—can empower them to build a secure financial future.

Key Concepts to Explore
• Why Save? Savings can help meet future goals, cover unexpected expenses, and reduce financial stress. It also allows money to grow through interest.
• Emergency Savings Fund: These can be helpful in protecting against income loss or surprise expenses like car repairs.
• Pay Yourself First: Before spending money, set aside a portion into savings—this is a key habit for building wealth.
• Saving with a Bank: FDIC-insured accounts offer a safe place to store money and earn interest. Look for accounts with low fees and ask about Truth in Savings disclosures.
• Investing for the Long Term: In addition to savings, teens can learn the basics of investing—like stocks, bonds, and mutual funds—to understand how money can grow over time and the role of risk.
• Setting Financial Goals: Everyone’s goals are different. Help your teen define what matters to them—whether it’s saving for a car, college, or a trip—and build a plan to get there.

Words to Know
• Savings Account – A bank account that pays interest on money set aside for future use.
• Budget – A plan that tracks income, spending, and savings.
• Interest – Money earned from keeping money on deposit with a financial institution.
• Invest – To put money at risk with the goal of making a profit in the future.
• Stock – An investment that represents a share of ownership in a company.
• Mutual Fund – An investment tool that pools the money of many investors and invests it in stocks, bonds, and money market assets, or other securities.
• Risk – That possibility that something unplanned or unintended may happen (such as losing money).
• Return – The profit or gain made on an investment.

Conversation Starters
• If you received $500, what would you do with it?
• What are your current saving goals? Are you working toward them?
• Do you know the difference between saving and investing?
• Why do you think some people find it hard to save money?

Try This at Home
• Set a Savings Goal: Help your child choose something they want to save for. Create a plan and timeline to reach it.
• Envelope System: Use envelopes or jars labeled “Save,” “Spend,” and “Give” to divide allowance or gift money.
• Stock Market Game: Pick a stock and track it together. Talk about what affects its price and how it performs.
• Bank Visit: Bring your child to the bank to open a savings account or learn about youth account options.
• Shadow Savings: Let your child watch or help when you make a deposit, whether at the bank or ATM.

Understanding the concepts of credit and debt is an important step for middle schoolers beginning to explore real-world money decisions. This lesson helps families start conversations about borrowing, why it matters, and how to borrow responsibly.

Key Terms
• Annual Percentage Rate (APR): The yearly cost of borrowing, expressed as a percentage.
• Credit: The ability to borrow money and pay it back later.
• Credit Card: A card used to borrow money for purchases, with a promise to repay later.
• Debt: Money that is owed.
• Debit: Money withdrawn from a deposit account to pay for something.
• Debit Card: A card used to access money from your checking or savings account.

Ask Your Child
• What do you know about credit cards?
• What’s the difference between cash, credit, and debit?
• Is borrowing money ever a good idea? When?
• What does it mean to be trustworthy when borrowing something?
• If you borrow money, what responsibilities come with it?

Try This
• Talking Terms: Review a credit card agreement together. What are the terms and responsibilities?
• Free Credit Report: Visit annualcreditreport.com and explore what’s included in a credit report.
• Comparing Cards: Look at credit card offers and talk about interest, fees, and the cost of not paying in full.
• Give a Little (with Interest): If your child wants to borrow money from you, consider charging a small interest rate. Discuss what that means and why it matters.

Around Town
• Advertising Awareness: Look for credit card ads together—in stores, on signs, or during checkout. Why do you think these are promoted?
• Real-Life Credit: Share how you use credit responsibly, such as paying for large purchases or building a credit history.

Even if teens aren’t making regular purchases yet, they’re still vulnerable to scams, identity theft, and financial risk—especially online. This lesson helps families talk about what it means to safeguard personal information, avoid fraud, and understand the value of protection tools like insurance.

Let’s Talk Terms
• Identity Theft: When someone steals your personal information to commit fraud.
• Phishing: When scammers impersonate a trusted source such as a business or government agency, to trick you into giving your personal information.
• Risk: The possibility of financial or other loss.
• Risk Management: The process of calculating risk and choosing approaches to minimize or manage loss.
• Insurance: A contractual relationship that exists when one party (the Insurer), for a fee (premium) agrees to reimburse another party (the Insured or third party on behalf of the Insured) for a specific loss.

Why It Matters
Today’s youth are digital natives—but that doesn’t mean they’re scam-proof. Teaching them how to spot fraud, question suspicious activity, and understand financial risk builds confidence and security. It’s also a good time to introduce the concept of protecting big purchases and planning for “what if” scenarios.

Conversation Starters
• Do you know what a hacked account looks like?
• How do you decide which websites or apps are safe?
• Can you think of a situation where something bad might happen with your money?
• What types of purchases might require protection?

Try This
At Home:
• Spot the Scam – Use phishing examples to show how scammers operate.
• Online Shopping Safety Demo – Show how to shop safely online.
• Insurance 101 – Review and compare insurance scenarios.

Around Town:
• Real-World Risk – Discuss what needs protection in everyday life.
• Protection in Action – Talk through real examples of fraud or risk.

What you earn—and how you earn it—can shape the opportunities you have in life. From choosing a career to understanding your paycheck and taxes, this lesson is about helping teens explore what it means to earn money and build a future around their talents, interests, and goals. Whether your teen dreams of starting a business, working in healthcare, or becoming a designer, this conversation can lay the foundation for long-term financial health and confidence.

Core Concepts
• Career Exploration: Choosing the right career starts with understanding your interests and strengths, and aligning them with opportunities that offer both personal satisfaction and financial stability.
• Entrepreneurship: Being an entrepreneur means identifying a need or opportunity, creating a plan, and taking on the risk—and potential reward—of building a business.
• Understanding Pay: Paychecks include gross income (before taxes) and net income (after deductions). Teens should understand what’s withheld and why, including income tax, Social Security, and Medicare.
• Economic Factors: National economic conditions, like inflation and interest rates, affect how easy it is to find a job or run a business. Talking about these broader forces helps teens understand how the economy affects them directly.

Key Terms
• Career: A long-term professional journey tied to a field or skillset.
• Entrepreneur: A person who establishes and operates a business.
• Gross Income: Earnings before deductions.
• Net Income: Take-home pay after deductions (such as taxes, health care premiums, and retirement savings).
• Income Tax: Tax levied on earned and unearned income.
• Social Security: A federal government program that provides retirement, survivors, and disability benefits, funded by a tax on income.

Family Activities
• Paycheck Review: If your teen has a job, look at their paycheck together and break down deductions.
• Career Mapping: Research careers of family members. What did they study or do to get into their professions?
• Job Shadowing: Let your teen spend a day observing your work or that of another trusted adult.
• Tax Time Talk: Show your teen how you file taxes and explain where the money goes.

Saving and investing are essential pieces of your financial future. Building these habits early can lead to lifelong security, financial independence, and the ability to achieve your goals—whether that’s buying a car, paying for college, or retiring comfortably one day. The foundation starts with learning to distinguish between wants and needs and exploring smart ways to put your money to work.

Key Concepts
• Saving means setting money aside in a safe place for future use, like a savings account. These accounts are insured and earn interest, making them a great starting point.
• Investing means using your money to buy something that has the potential to grow in value over time—like stocks, bonds, or mutual funds. Investments carry more risk, but they also can offer greater rewards.
• Financial planning starts by listing your values, goals, income, and expenses. Budgeting helps control impulse spending and ensures you’re working toward the future you want.
• Saving for college is easier when you start early. Automatic deposits and consistent contributions can add up quickly over time.
• Understanding the economy helps you see how interest rates, inflation, and market conditions affect your savings and investments.

Words to Know
• Bank – A financial institution and business that accepts deposits, makes loans, and handles other financial transactions.
• Credit Union – A not-for-profit financial institution owned by its members and represented by a volunteer board of directors who are elected by the membership.
• Savings Account – A bank account that you can use to set aside money, and that pays you interest.
• Investment – Using money or time in a way that you expect will bring you a return or increase in value.
• Compound Interest – Interest earned on both the money you save and the interest you’ve already earned.
• Need – Something you must have to survive, such as clothes, shelter, or food
• Want – Something that you would like to have but could live without.

Tips for Families
• Tour a bank or credit union with your teen to explore account options.
• Talk about savings habits, such as setting up an automatic monthly contribution or building an emergency fund.
• Set a family savings goal, like saving for a vacation or big purchase, and work together toward it.
• Review investment basics with online tools or visit a financial advisor to learn more about how the stock market works.

Conversation Starters
• If you received $5,000, how would you use it?
• What’s a long-term goal you have? What steps would help you reach it?
• How do you think saving differs from investing?
• Do you know how much you’ll need to retire someday?

At some point in life, most of us will need to borrow money—whether to pay for college, buy a home, or handle an unexpected expense. While borrowing is a useful tool, it comes with responsibilities. Understanding how credit works, how to manage it, and how to use it wisely is an important part of becoming financially prepared for adulthood.

Key Concepts:
• What is credit? Credit is the use of someone else’s money for a fee.
• Managing credit wisely: Good strategies include paying bills on time, not maxing out credit cards, and never borrowing to repay other debt.
• Credit vs. debit cards: Debit cards use your money; credit cards borrow against a credit line.
• How do you pay for college? Aside from using savings and searching for scholarships to help pay for college, you can also apply for federal financial aid. The process begins by completing the Free Application for Federal Student Aid, also known as FASFA.
• Debt-to-income ratio: Compares monthly debt to income; lower is better.

Terms to Know:
• Credit Score: A number that measures an individual’s credit worthiness.
• Creditworthiness: A creditor’s measure of a consumer’s past and future ability and willingness to repay debts.
• Debt-to-Income Ratio: A ratio that measures your monthly debt payments against your monthly gross income.
• FAFSA: Free Application for Federal Student Aid- The free application used to apply for federal student aid, such as federal grants, loans, and work study.
• Student Loan: Money borrowed for school, repaid with interest.

Talk About It:
• What’s the difference between a debit card and a credit card?
• What should you consider before borrowing for a want vs. a need?
• How do you know if a credit offer is legitimate?

Try This at Home:
• Credit Card Comparison: Compare interest rates and fees from different offers.
• College Cost Planning: Research and compare costs for three colleges.
• Practice Responsible Borrowing: Create a mock loan agreement with terms and repayment.

Managing money wisely means more than budgeting and saving—it also involves protecting what you have. From shielding your identity online to understanding different types of insurance and knowing how to vet financial resources, protecting your financial well-being is a lifelong responsibility.

What Students Should Learn:
• How financial institutions and insurance protect your money.
• What types of information should be kept private online.
• The importance of estate planning and having a power of attorney.
• How to identify and avoid scams and identity theft.
• What to look for in trustworthy financial resources.

Key Concepts:
• FDIC & NCUA Insurance: Deposits in insured banks and credit unions are protected up to $250,000 per depositor, per institution.
• Financial Resources: Start with reliable sources such as MyMoney.gov, SEC.gov, FINRA.org, and CFP.net for financial education and advisor credentials.
• Evaluating Credibility: Look for .gov or .edu domains, proper grammar, author transparency, and realistic claims.
• Insurance: Different types of insurance—health, auto, life, property, disability—help protect against financial risks.
• Estate Planning: Having a will and assigning a power of attorney provides clear direction for managing your assets if you’re unable to do so yourself.
• Identity Theft: Protect your information by using strong passwords, avoiding oversharing, shredding sensitive documents, and monitoring financial accounts.

Conversation Starters:
• What kind of personal information do you think is OK to share online?
• Why is insurance important, even if you’re young?
• Have you ever seen an ad or offer that seemed “too good to be true”? What made you suspicious?
• Who would you trust to make decisions on your behalf if you couldn’t?

Real-Life Scenarios:
• If your teen wants to open a social media account: Discuss online safety, privacy settings, and the risks of oversharing.
• If your teen shares personal info online: Take action immediately. Visit the FTC’s Child Identity Theft page to learn next steps.
• If your teen is interested in insurance or financial safety: Invite them to attend meetings with your banker or insurance advisor to learn firsthand.

Family Activities:
• Shred Junk Mail: Talk about the importance of protecting information found in unwanted credit card offers and statements.
• Online Name Search: Look up your own names to see what personal info is easily available online.
• Social Media Safety Review: Use examples of both good and bad online behavior to prompt discussion.
• Visit the Bank or Insurance Agent: Have your teen join a visit to discuss fraud protection and insurance coverage.