Family Finance Guides for Parents with Young Kids

Financial Literacy for Kids and Parents. Guides, terms and products for parents and young kids. Financial resources to help you teach your little ones about money.

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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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Greenlight

Why we like it:

Built for parents, Greenlight offers tools for kids to save, spend, and earn money. Greenlight is all about financial education for kids.

  • $4.99 per monthly for a family with up to 5 kids
  • No minimum balances
  • Parents can pay interest on kids' savings
  • Pay kids a weekly allowance, and reward chores with perks
  • Parental controls in place for ATMs and spending in stores
  • Raise financially kids

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Ally Bank

Why we like it:

Set it and forget it savings at its best. Ally bank's smart saving features and boosters help you automate savings, driving your savings up with little effort.

  • Easy to open accounts online
  • Offers custodial savings accounts, truely owned by your child
  • High yield savings account
  • Smart features to optimize savings
  • No minimum to open or hold account
  • No monthly fees

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