Finance for Teenagers

Financial guides and tools for parents and teens. Learn how to save and invest for teens.

Investment
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Top Guides

Stocks for Teens - How Teens Can Start Investing Before 18

Teens can invest in stocks, but they need to do it through a custodial account. Choose an app or platform and open a custodial account with the help of a parent. Use earnings from part-time jobs, graduation gifts, or cash for chores. Start with small, manageable investments.

The 7 Best UTMA Accounts of 2024

The 7 Best Savings Accounts for Kids in 2024

14 Ways To Make Money as a Kid

Top Financial Products

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Acorns

Why we like it:

If you're not sure how to afford starting to save, use Acorns' roundups and roundup multiplier to automatically save & invest your "spare change" from credit card purchases. Great for building that initial few hundred dollars in savings quickly, without effort, and without noticing.

$1 per month for an investment account the rounds up your spare change automatically
Save & invest roundups automatically, with option to apply roundup multiplier for faster savings
Your balance is automatically invested in ETFs for extra earnings
Plans can be expensive for investment purposes, but provide a great way to jump start some savings
No minimum required to open an account
Since this is an investment account, earnings will be higher than most high-yield savings accounts

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Fidelity

Why we like it:

Managed investment with no fees for the hands-off investor. Virtual assistant, no minimums, low cost mutual funds, and fractional share trading for the hands-on investor. These make Fidelity a great choice for new investors that are looking to dip their toes in investing.

A virtual assistant offers step by step help for new investors
Individual and custodial accounts: no minimum to start, $0 commission on stock and ETF trades
Managed portfolios: no minimum to start, and no advisory fees for accounts with balance under $10,000
Low to no cost mutual funds with no minimums to invest
Allows buying fractions of pricey shares for as little as $1

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Ally Invest

Why we like it:

This account has no minimum to start, making it a great starter account for parents looking to start investing for their child, and the managed portfolio is a great way to start earning on your investments if you prefer a hands-off approach.

Individual and custodial accounts: no minimum to start, $0 commission on stock and ETF trades
Mutual fund trading for a low $9.95
Managed portfolios: low minimum of $100 to start, and advisory fees of 0.30% of total assets per year
A full range of investment options, for all investor levels
Earn interest on uninvested cash when you open and link an Ally savings account
Get a signup bonus when you fund a new account with at least $10,000

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All Guides

Financial Gifting

6 Best Financial Gifts for Kids in 2024

Giving a financial gift can kickstart a child’s financial future. Here are the best ways to do that: Greatest Gift App - 529 Plan Contribution - Savings Bonds for Kids - Gift Stocks - Gift Savings - Financial Literacy.

7 Ways to Build Generational Wealth

Create generational wealth by spending less than you make, investing the rest, acquiring assets and knowledge. Invest in stocks & bonds, acquire real estate, start a family business, create a will, purchase life insurance, learn personal finance, and give financial gifts. Transfer knowledge, assets, and opportunities to the next generation to set your family up for a stress free financial future.

Albert Einstein and Compound Interest

Compound interest is the eighth wonder of the world, according to Albert Einstein. Discover how understanding compound interest can be a game-changer in financial literacy for both kids and adults, and what Einstein really said about it.

Financial Gifting

Bar Bat Mitzvah Gift Amount 2024

If you're attending a bar or bat mitzvah party, $36-$360 per guest is a good gift amount, and giving in multiples of 18 expresses good wishes in the Jewish culture. Whatever you choose to give will be appreciated by the celebrating family.

Financial Gifting

How Much to Give for Graduation Gifts

Each graduation stage from kindergarten to college has its own norms for gift-giving. In 2023 the average high school and college graduation gift amount was $116. Middle school, elementary, and kindergarten graduations typically have lower gift amounts.

How Savings Bonds Work

There are two types of US savings bonds: Series EE bonds, and series I bonds. Buying a US Treasury Savings Bond is essentially lending money to the US federal government and earning interest in return.

How to Open a Bank Account for a Minor in 5 Easy Steps

Making the decision of where to open your child's account can be a bit overwhelming. From choosing the right account type, selecting a provider, preparing essential documents, to opening and funding an account, online or in person. We got you covered.

How to Open a Custodial Account: A Step-by-Step Guide

There are four main steps to open a custodial account for your child's future. Choose the account type, choose a provider, open an account, and fund the account. Follow this step-by-step guide to make an informed decision.

The Best Investment Accounts for Kids

The four main types of investment accounts for kids include UTMA accounts, 529 plans, Custodial Roth IRAs, and Youth Investment Accounts. Choosing the right account can help reach different financial goals.

The Best Stocks for Kids in 2024

TL:DR; Stocks are an effective way to teach kids about investing in a way they'll understand and enjoy. Buy a kid-friendly stock like Disney, Nike, or Apple, and explain how the stock market works for kids through a live example.

Chores for Kids to Earn Money

Mixing paid and unpaid chores can teach kids about helping the family and managing money - all in one go. A basic guideline is $0.50- $1 for simple tasks for younger children, scaling up to $5 or more for complex tasks for older children.

A Guide for your Financial Parenting Journey

Discover guides and compare financial products that
set your kids up for a great financial future

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Expecting Parents

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New Parents

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Young Kids

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Teens

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Young Adults

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Offers are provided to you as a convenience. Greatest Gift does not endorse, warrant or guarantee the products or services available through the Offers (or any other third-party products or services advertised on or linked from our site), whether or not sponsored. Greatest Gift is not an agent or broker or otherwise responsible for the activities or policies of those websites. Greatest Gift may receive compensation from third parties which may impact the placement and availability of the Offers. If you elect to use or purchase services from third parties, you are subject to their terms and conditions and privacy policy.