Skip to main content


Savings - picture of a piggy bank

Pass on the Savings

Here are some tips to help you talk to your children about money.

  • Start small. Start with simple concepts and work your way up. All things cost money, you earn money by working, and budgeting helps you achieve your goals. Review The ABCs of Money Management together to start the conversation.
  • What's a budget? Talk about budgeting as a way to reach a savings goal. Break their income into four parts: Spending, Short-term Saving and Long-term Saving each get 30% (or $3 for every $10) and Sharing gets 10% ($1 for every $10).3
  • Speak their language. Explain saving using a real-life goal, such as redecorating their bedroom. Map out the cost and calculate how long it would take to save based on their income (allowance, odd jobs, babysitting, your contribution).
  • Save as a family. Talk about ways to save as a family, including cutting coupons or reducing power usage, and work together to save for shared goals like vacations. Track your progress on a calendar or chart.3
  • Make it fun! Give them a job around the house so they can earn their own money, and make a Savings Goal Chart or Wish List to help encourage saving goals.

Boost your Financial IQ

The more you know, the more you save.

How much do you know about money management? According to a recent survey, most of us think we know more than we actually do.1 Learning about key financial concepts can help you make more informed decisions and improve your bottom line. Give your financial IQ a boost with these tips and resources:

Start with the basics.

Read about creating a spending plan, debt and credit management, mortgages, retirement planning, getting a loan, and knowing your consumer rights at, the U.S. government site dedicated to teaching all of us the basics about financial education.2

Read, read, read.

Search online, go to the bookstore, or visit your local library to find books written by financial specialists. You can also subscribe to money management magazines to keep your knowledge fresh and relevant, plus get tips from finance pros.

Stay in school.

Take a class at a local school or organization to get a better understanding of key financial concepts. We have some financial education seminars that you might like:
  • Build and Maintain Great Credit
  • Breaking the Paycheck to Paycheck Cycle
  • Banking for your Lifestyle
  • Protecting your Identity
  • Home Buying Made Simple
To sign up for a seminar or to get more information, please e-mail

Ask an expert.

Bankers, financial planners and educators can help you become your own financial expert, so ask away! Whether you're looking for new financial products and services, answers to questions, or you just want a second opinion, seeking out an expert can boost your knowledge and your confidence.

Put your knowledge to the test.

Take a look at your current financial plan and see where you can put what you've learned into practice. Keep adjusting your plan as you get more knowledge, and remember – each financial plan is different. Pair your new smarts with your real life experience to find a plan that works just for you.

Perez, Maria. "Boost Your Financial I.Q." and "Tips to Teach Children to Save." N.p. unknown, n.d. March 2013.

1. Financial Literacy and Education Commission. "Promoting Financial Success in the United States: National Strategy for Financial Literacy" N.p. 2011, n.d. March 2013.

2. N.p. 2011, n.d. March 2013.

3. ABA Education Foundation. "Money Talks" N.p. 2009, n.d. March 2013.

Neither TD Bank US Holding Company, nor its subsidiaries or affiliates, is responsible for the content of third party sites hyper-linked from this page, nor do they guarantee or endorse the information, recommendations, products or services offered on third party sites.

Third party sites may have different Privacy and Security policies than TD Bank US Holding Company. You should review the Privacy and Security policies of any third party website before you provide personal or confidential information.

This article is based on information available in April 2013. It is for general informational purposes only. It is not intended to provide specific financial, investment, tax, legal, accounting, or other advice and should not be acted or relied upon without the advice of a professional advisor. A professional advisor will recommend action based on your personal circumstances and the most recent information available.