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Banking for kids

Teach your kids good money habits with this kids' banking guide.

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Get the debit card and app that helps kids learn about money.

  • Finder-exclusive 2-month free trial plus $10 in allowance, then $4.99/month
  • Automate allowance & instantly send money to your child
  • Optional parent-paid savings interest
  • Spending controls & limits

Kids’ banking resources

Explore these useful banking tools and resources for your kids.

    • Kids’ Chore Calculator. If you decide to teach your child the value of a dollar through a chore allowance, use this calculator to determine how much you should pay them based on age and your state.

Kids chore calculator

Calculate how much to pay your kids for completing their chores by selecting your state, child's age, child's savings goal, and chore.

map icon State
kid iconKid's age range
dollar iconKid's weekly savings goal
dollar iconAdd chore
calendar iconWhich days will this chore be completed on?
Chore S M T W T F S Rate
Add chores to work out weekly total
Weekly total $0

Your child is 0% toward their weekly savings goal of $0.

Chore rates are based on suggestions from experts. See our methodology.

Learn more about kids’ bank accounts

From opening an account for your newborn baby to saving for college, explore various kids banking topics below.

Compare bank accounts for your baby

Opening a bank account in your child’s name can be a great way to save for future educational expenses and teach your child good money habits. But not all banks and credit unions allow you to open an account for a baby. Find out which ones you qualify for here.

529 savings plans

Education savings accounts, also known as 529 plans, are set up to save for your child’s future education. The funds from these accounts are used to cover educational expenses, such as elementary or secondary school expenses or college tuition. The number one perk of these savings accounts is that the earnings from the investment as well as any withdrawals from the account are not taxable for federal income tax purposes.

Teen debit cards and bank accounts

Teens can open savings accounts at most banks and credit unions, which can come in handy when they get their first job. Compare top-rated accounts for teens and find out how they compare to prepaid cards and traditional bank accounts.

How to save for college

College gets more expensive every year. The earlier you save, the greater the chance you have to combat student debt in the future. Uncover the average cost of tuition, fees and room and board. Then learn how to create a savings plan that helps your money go further.

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