MAYG Kids College

Money As You Grow

MAYG Parents

Two years ago in May, the White House launched Money As You Grow – 20 Things Kids Need to Know to Live Financially Smart Lives. 

The White House Financial Empowerment Initiative for youth is an online interactive tool for youth and parents to learn important financial lessons for ages 3 to 18+.  Money As You Grow, created by President Obama’s Advisory Council on Financial Capability, uses easy-to-understand language and includes behavior-changing activities around 20 key money concepts.

The teaching components for Money As You Grow —  20 Things Kids Need to Know To Live Financially Smart Lives are divided into 5 age groups:

3-5 Years

#1        You need money to buy things.

#2        You earn money by working.

#3        You may have to wait before you can buy something you want.

#4        There’s a difference between things you want and things you need.


6-10 Years

#5        You need to make choices about how to spend your money.

#6        It’s good to shop around and compare prices before you buy.

#7        It can be costly and dangerous to share information online.

#8        Putting your money in a savings account will protect it and pay you interest.


11-13 Years

#9        You should save at least a dime for every dollar you receive.

#10      Entering personal information, like a bank or credit card number, online is risky because someone could steal it.

#11      The sooner you save, the faster your money can grow from compound interest.

#12      Using a credit card is like taking out a loan.  If you don’t pay your bill in full every month, you’ll be charged interest and owe more than you originally spent.


14-18 Years

#13      When comparing colleges, be sure to consider how much each school would cost you.

#14      You should avoid using credit cards to buy things you can’t afford to pay for with cash.

#15      Your first paycheck may seem smaller than expected since money is taken out for taxes.

#16      A great place to save and invest money you earn is in a Roth IRA.


18+ Years

#17      You should use a credit card only if you can payoff the money owed in full each month.

#18      You need Health Insurance.

#19      It’s important to save at least three months’ worth of living expenses in case of an emergency.

#20      When investing, consider the risks and the annual expenses.

Watch Transforming Lives to see how 4 moms and 1 grandmother and their son, daughters and granddaughter from 3 to 18 discuss the learning activities and the 20 things kids need to know to live financially smart lives. 

Thank you to Lia Moore and her daughter Alyssa, Cheryl Mavritte and her granddaughter Sydney, Daphne Page Reaves and her son Quentin,  Rochelle Hackley Harris and her daughter Brianna, and  Cathy Troutman and her daughter Ashley.

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 “Transforming Lives” is a 30 minute show that spotlights individuals, companies, and charities whose great work transforms lives and improves the quality of life for citizens in Montgomery County and the surrounding areas.  The show is broadcast weekly to Comcast, RCN, and Verizon Cable subscribers in the Montgomery County on Channel 21 – Mondays at 9:00PM and Thursdays at 1:00PM.  Produced by Sheila Ogilvie


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