Involving Kids in Family Finances


One of the best lessons we can share with our kids is about money. By middle school, kids should have a good understanding of how money works as well as the importance of saving.

Rebecca Alwine is an Army wife and mother of three who realized shortly after having her third child that debt was not okay. "We had credit card debt and a brand new minivan payment, we knew that something had to change. While we knew that everyone has "debt" and many consider it a normal part of life, we didn't want our kids to have that mentality, so we involved them in our debt free journey." Rebecca says that her children have been a part of their savings journey, involving them in every step. "They understand how money works and know that by saving money, we can do more fun things as a family."

Rebecca mentions that there is one very important component of getting kids involved in savings: "We talk about money, we have family budget meetings so we can discuss how we're going to use our income, and we discuss our financial goals. The kids were really excited when we paid off our last debt, the minivan, and are happy when we color in new lines on our "savings account" chart."

Being money-wise at different stages requires clear explanations as well as honesty about your own family finances. You can turn each situation that involves money into a learning moment, or even a game to make kids more interested.

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Saver Stories View all »

Building a Six-Figure Savings While Enjoying Life

Does the idea of saving up hundreds of thousands of dollars seem impossible? How about doing it while still living an enjoyable lifestyle?

For military spouse Martina and her husband, an E-5 in the Navy, accumulating a six-figure savings has become a reality. One might think that in order to save this much, it would take a great deal of sacrificing and forgoing a certain quality of life, but Martina and her husband would disagree. “Over the past few years (about five), we've managed to save almost $120,000 while mostly living on one income. We've learned so much about easy ways to save money and live a good life,” shares Martina.


When You Start Small, Saving is Easy

When Attiyya first got married, she and her Marine husband had just graduated from college and were focused on paying off student loan debt. They had both attended private schools and had sizeable loans. Then three months after the wedding, the couple found out they were pregnant with their first child.

The first year of their marriage, says Attiyya, was a balancing act between paying down debt and saving for the future.


How Smart Financial Decisions Can Create Opportunities 

Written by Stephen Ross, America Saves Program Coordinator | November 22, 2019

Of the many stories Military Saves shares, most describe how someone was in dire straits financially and worked their way out of it with the help of Military Saves. This time we want to highlight a different kind of story. This is a story about how responsible financial decisions can build on one another to create opportunities you thought only the super-rich enjoy.