Age-Based Resources

to Plan and Save for Your Child’s Future

Children pick up the financial behavior of their parents. Modeling responsible financial behavior throughout your child’s development will help them make responsible financial decisions as adults.

Jump to:

0-18 months
18-36 months
3-5 Years
5-7 Years
8-10 Years
11-13 Years
14-15 Years
16-17 Years

And remember, the Quarterly Communications we send to you share not only the current value of your child’s Alfond Grant, but also additional age-based tips and resources across a number of different content areas (Literacy, Math & Science, Health & Wellness and Financial Literacy).  You can access those online any time, and even sign up for e-delivery at MyAlfondGrant.org. Check them out today!

Age 0-18 months

It’s never too early to start saving for college. The money you save for your child’s education can make a big difference when your baby is grown up. There are lots of easy ways to get into good habits of spending and saving. Children learn their money proficiency from their parents. It’s not too late to develop new skills if it’s been hard for you in the past. And your child will learn how to save by learning from you.

Tips for Parents

Begin setting aside savings. Each month, set aside money for college savings. Even small amounts will add up. Five dollars in change each week will add up to $4,680 in 18 years, or you can save $500 a year by not buying coffee on your way to work each weekday.

Investigate different savings vehicles. Learn about different ways to save for your child’s college education. Visit NextGenforMe.com to read about Maine’s 529 plan. 

Save on a schedule. Plan on making regular contributions to your child’s college savings. You can make automatic contributions through payroll deductions or from a bank account – or mark your calendar to contribute every major holiday and birthdays.*

Read more tips at the Parents’ Guide to Planning & Saving.

*Dollar-cost averaging, and other periodic investments do not ensure a profit and do not protect against loss in declining markets. Such a plan involves continuous investment in securities, regardless of fluctuating price levels of such securities. Investors should consider their financial ability to continue their purchases through periods of high or low-price levels.

Book Recommendations

Read finance-related books with your child. Here are some age-appropriate suggestions. 

Additional Resources

  • Dolly Parton’s Imagination Library. Lots of information to help you help your child develop a love of reading.
  • MyMoney.gov. Start learning about money management from birth through adulthood.
  • Your local bank. Your local bank is a great resource where you can meet with experts who can talk with you about making a savings plan that’s right for your family.

Age 18-36 months

Your child’s Alfond Grant is only the first step in saving for college. The next step is to keep adding to it. Every little bit you put away may help reduce the cost of higher education. Whatever you have available when it’s time to go to college is money you will not have to borrow.

Tips for Parents

Consider opening a NextGen 529 account. By opening a NextGen account, you can make your own contributions to your child’s future and it may help reduce the cost.

Learn more about saving for college. Visit CollegeSavings.org.

Look into additional savings. Maine has other benefits you may be eligible for through tax savings and reimbursements. Visit Child Care Tax Credits at Maine.gov.

Be on a budget. Keep track of how much you spend. Write down every penny that leaves your pocket and then review your spending habits after one month.

Always make payments on time. Set goals and a time frame for paying bills and stick to it. Late fees are a waste of money!

Pay yourself first. Every month, set aside a specific amount of money for personal use. Part of this money can go towards your child’s college savings.

Read more tips at the Parents’ Guide to College Savings.

Book Recommendations

Read finance-related books with your child. Here are some age-appropriate suggestions. 

Financial Resources

  • Child Care Tax Credits at Maine.gov. Maine has other benefits you may be eligible for through tax savings and reimbursements. Find out more here.
  • CollegeSavings.org. Learn why saving now matters, how saving for college can really “add up”, and why 529 savings plans may be right for you.

Age 3-5 years

Preschoolers are starting to understand the meaning of money, and this is the time to teach responsible saving and spending. At this age, you may decide to give a small allowance each week, and your child may be doing some chores around the house like simple cleaning (picking up his/her room, helping with dishes). Use an allowance as a tool to teach responsible spending and saving. You can show a child how to save and purchase things with money that they have saved.

Tips for Parents

Count pennies with your child. Coin sorting is a great activity for preschoolers. Teach your child about money by helping sort colors, sizes, and values.

Be a financial role model. Your child will learn about saving and spending from you. Talk about the things you’re saving up for. Show your child how the money you’re saving for college is adding up.

Take it to the bank. Most banks will let a child have their own account if a parent signs them up. Help your child save and show how to make a deposit and check the balance.

Read more tips at the Parents’ Guide to College Savings.

Book Recommendations

Read books about finance with them. Here are some age-appropriate ones.

Financial Resources

  • Kids’ Money is an interactive resource for parents, teachers, and kids designed to help children develop successful money management habits and become financially responsible adults.
  • The Preschool Children’s Understanding of Money fact sheet has ideas and activities you can employ on how to improve how your child understands money via The Texas A&M University System.
  • Mint is an all-in-one financing app containing resources to help parents tackle personal finance with their kids, an important life skill. Raising financially-savvy children involves teaching them a variety of aspects from budgeting to planning, earning, and saving.

Age 5-7 years

At this age, your child is a sponge who takes in everything around them. Use that to teach them about being financially responsible.

Tips for Parents

Setting goals. Tell your child how you make choices about what you need versus what you want to purchase – and how you set goals for each.

Teach them the difference between want vs. need. Ask your child to think of an item they would like to start saving for, like a new bike. Ask them: do they need it or want it?

Talk money saving tips with your child. Talk with your child about how much money they will need to save for any item they choose – and help them make a plan for saving their allowance money towards it.

Leave room for mistakes. Part of putting kids in control of their own money is letting them learn from their errors. It’s tempting to step in and steer kids away from a potentially costly mistake, but it may be better to use that mistake as a teachable moment. In that way, they’ll know in the future what not to do with their cash.

Read more tips at the Parents’ Guide to College Savings.

Book Recommendations

Read books about finance with them. Here are some great ones.

Financial Resources

Additional Resources

Health Resources and Book Recommendations
Literacy Resources and Book Recommendations
Science and Math Resources and Book Recommendations
  • National Geographic Kids The main focus of the site is animals- their appearance, behaviors, foods, and habitats. Each page offers further opportunities for your child to expand their knowledge about each creature and the world around them.
  • NASA Space Place a colorful and fun website that encourages kids to “explore Earth and Space!”
  • Ada Twist, Scientist by Andrea Beaty and David Roberts
  • Hidden Figures by Margot Lee Shetterly and Laura Freeman
  • The Greedy Triangle by Marilyn Burns, Syd Hoff, Gordon Silveria 

Age 8-10 years

Now’s the time to help your child learn good financial habits that will shape how they earn, save, and shop.

Tips for Parents

Open a bank account with your child. By age 10, your children should be ready for this next step toward financial independence. This can be both exciting and scary for kids, so be sure to talk in advance to prepare them.

Consider small jobs for your child to do and earn money for. This can promote the value of earning money.

When shopping, ask your child to help you compare prices. Look at brand-name items and own-brand products. Talk about which ones cost more and why. And how you can save money.

Teach your child about 1/3 + 1/3 + 1/3. Whether your child receives an allowance, or earns a bit of money helping out, or gets some cash for a birthday, help them see the value of the money they have. Consider using ⅓ to spend, ⅓ to save and ⅓ to give to charity.

Encourage your child to set a savings goal. When your child sets aside money to save, ask them what they want to save for, help them find out how much it costs, and sneak in some math as they figure out how long it might take them to meet their goal.

Talk about money with your child. Parents are often reluctant to talk with their children about money – but talking about money gives your children a chance to learn and to feel comfortable with financial matters. Let them know the kinds of things you’re trying to juggle and how you decide what to spend on and how to save.

Read more tips at the Parents’ Guide to College Savings.

Book Recommendations

Read books about finance with them. Here are some suggestions.

Financial Resources

Additional Resources

Health Resources and Book Recommendations
  • Blast off game to help learn the food pyramid
  • Too little sleep is associated with obesity, partly because inadequate sleep makes us eat more and be less physically active. Children need more sleep than adults, and the amount varies by age. See the recommended amounts of sleep  and suggested habits to improve sleep.
  • Children and adolescents should have at least 60 minutes of moderate to vigorous physical activity on most days for good health and fitness and for healthy weight during growth.
  • The Wild Robot by Peter Brown
  • Michael Rosen’s Sad Book by Michael Rosen, Quentin Blake
  • What to Do When You Worry Too Much by by Dawn Huebner, Bonnie Mathews
Literacy Resources and Book Recommendations
  • Scholastic Raising Readers Tips
  • Board games are a great way to firm up recognition of sight words, as well as spelling and vocabulary skills. Try favorites like Password, Blurt, Boggle Jr., Apples to Apples, and Buzzword Junior.
  • Help your kids share the joy of reading by donating books to kids who lack them. Have them select books from their own collection (ones they’ve outgrown or their favorites).
  • Judy Moody Series by Megan McDonald, Peter H. Reynolds
  • Fantastic Mr. Fox by Roald Dahl, Quentin Blake
  • Charlotte’s Web by E.B. White
Science and Math Resources and Book Recommendations
  • Code.org is a nonprofit dedicated to expanding access to computer science in schools and increasing participation by young women and students from other underrepresented 
  • Invite curiosity. Science learning begins with curiosity. Observations and questions can create a climate of discovery – key to scientific learning. Children can learn a lot about science even at bath time. Let your child ask her own questions but you can also stimulate curiosity. For instance, when seeing a rubber duck float in the water, invite him to think by saying, “I wonder if the soap will also float?” See what questions she asks and what experiments she tries.
  • Play math games at home, There are many games your child can play that involve math. Beginning in the elementary years, students can learn to enjoy math by playing games such as chess, dominoes, cribbage, checkers, Set, Monopoly, Yahtzee, and backgammon.
  • How We Got to Now by Steven Johnson 
  • Kate the Chemist Series by Kate Biberdorf 
  • Nick and Tesla Series by Bob Pflugfelder, Steve Hockensmith

Age 11-13 years

As a teen and pre-teen, your child can start to earn money and make some decisions on their own. Be there to lead them in the right direction.

Tips for Parents

Expand purchase responsibilities. It’s time for more responsibility, preparing for bigger decisions in high school. Move gradually, layering on responsibility for items like clothing. Stay involved, give guidance and remember your kids still have to listen even if they don’t want to.

Demonstrate different ways of giving. This is a great age to involve your kids in giving to worthy causes. They’re old enough to appreciate both the need and how they can help. Giving can be financial or of time and talent. It should reflect and reinforce the family values you want to instill.

Review the quarterly communications about the Alfond Grant with your child. Make sure they know that there’s money put away for higher education, and talk with them about how you can help them take that next step after high school.

Read more tips at the Parents’ Guide to College Savings.

Book Recommendations

Read books about finance with them. Here are some suggestions.

Financial Resources

Additional Resources

Health Resources and Book Recommendations
  • Your student will likely be transitioning to middle school at this time and it can often be a difficult time for adolescents to navigate. Students will likely now have multiple teachers with different styles and assignments. Helping them organize their work will help to alleviate their stress level and will keep them on the right track to success. 
  • Exercise is especially important at this age. Your pre-teen’s body is growing rapidly and needs physical activity, which also supports their emotional well-being. 
  • As children get older, they may begin navigating the internet more on their own. Teaching them how to safely do this is important for their online and mental health as well. Use the resources at commonsense.org for more information. 
  • Out of My Mind by Sharon M. Draper
  • Wonder by R.J. Palacio
  • Rain Reign by Ann M. Martin
Literacy Resources and Book Recommendations
  • Middle school is a crucial time to engage your child in learning. It is often during these years that children are either ignited by or turned off to school. If your child struggles to learn, problem solve together and get a plan in place to allow success (and confidence!) to build. Support your child outside of school and find ways to extend or enhance what he’s doing at school. 
  • Remember that any reading is good reading. Don’t stress if your child starts to read magazines instead of books, or wants to revisit favorite books of four years ago. Reading is reading and is meant to be fun. So let him choose what he wants to read rather than force-feeding him ‘good books’ because this is the fastest way you can kill off the reading bug.
  • Scholastic has many tips and book recommendations to help continue raising a reader as they navigate their teens.
  • Little Women by Louisa May Alcott
  • Mrs. Frisby and the Rats of Nimh by Robert C. O’Brien
  • The Giver by Lois Lowry 
Science and Math Resources and Book Recommendations
  • Explain how math applies to real-life situations and challenge children to help you solve the math problems you encounter when you’re out together, such as figuring out how many apples to buy or calculating change. They’ll be more interested in mastering math if they realize its value.
  • Use the internet to search for science experiments to do at home. The possibilities are endless.
  • Exploratorium has encouraged awe and wonder in the minds of young people as a hands-on museum located in San Francisco.
  • The Audubon Society is a nonprofit organization dedicated to the conservation of birds in America. Its website now features educational material specifically designed to help young kids explore birds and nature from the safety of their homes during the pandemic. That includes birding guides and projects that range from learning how to draw a bird to identifying and appreciating city pigeons.
  • The Boy who Harnessed the Wind by William Kamkwamba, Bryan Mealer
  • See You in the Cosmos by Jack Cheng
  • A Very Improbable Story by Edward Einhorn, Adam Gustavson

Age 14-15 years

Teenagers are ready to begin to prepare for their future after high school. Help guide and prepare them for this process with the following tips and resources.

Tips for Parents

Talk with your child about their many options after high school. College, community college and trade schools are all great options for students after high school. Encourage students to explore their interests and how it may relate to a future career.

Encourage healthy habits. As children reach their teenage years they are often pulled in many different directions – school, work, extracurricular activities and family commitments all play an important role in their lives. Help them reduce stress by learning to prioritize their time, get enough sleep and make good nutritional choices.

Review your child’s Alfond Grant quarterly statement with them. Make sure they know that there’s money put away for their education after high school, and talk with them about how you can help them take that next step after high school.

Read more tips at the Parents’ Guide to College Savings.

Book Recommendations

Read books along with your child about Career Exploration. Here are some suggestions.

Financial Resources

  • Teach teens how to budget. Mint.com has some great tips to help teens establish a budget.
  • Open a savings account with your teen and have them start to get in the habit of setting money aside for savings.
  • Research summer job opportunities with your teen. Have them think about things they would enjoy doing during the summer months and that allow them to work with a workers permit.
  • How to Money: Your Ultimate Visual Guide to the Basics of Finance By Jean Chatzky, Kathryn Tuggle and Nina Cosford
  • The Budget Book for Young Adults By Sasha Winters

Additional Resources

Health Resources and Book Recommendations
  • Get enough sleep each night. Most teens need between 9 and 9 ½ hours of sleep every night. Sleep has a strong effect on their ability to concentrate and do well at school.
  • Learn ways that help teens manage stress. Teens can’t avoid stress, so they need to learn how to manage it. Talk with them about strategies you might use that they may find helpful.
  • Be there for your teen if they need you. Having a caring adult to talk with about any feelings you may be having can be very helpful. A school counselor can also be a great person to turn to!
  • I Would, but My Damn Mind Won’t Let Me: A teen’s guide to controlling their thoughts and feelings By Jacqui Letran
Literacy Resources and Book Recommendations
  • Let your teen choose what they find engaging. Comic books or cookbooks, romance novels about vampires or a tale of the zombie apocalypse – be a fan of the fact that they’re reading and don’t worry if what they are reading isn’t your favorite.
  • Find a series they may enjoy. Readers who get hooked on the first book in a series can follow the same characters or themes through many more books.
  • Ask about it! You don’t need to create an at-home book club, but asking them about the books they are reading, whether at home or in school, can help create meaningful conversations. 
  • The Hunger Games Series By Suzanne Collins
  • The Fault in our Stars By John Green
Science and Math Resources and Book Recommendations
  • Visit places where your teen can experience math and science in action – such as the planetarium, observatory, aquarium, zoo, museums and galleries.
  • Talk about math and science careers. Talk to your teen about all the different fields where science and math is applied every day – from food science to marine biology, and from fashion designing to architecture.
  • Involve your children in the math that you do every day like budgeting, time management, baking, or home renovations projects. Helping them see the real-world use for what they are learning can help them see these lessons as valuable.
  • Humble Pi: A Comedy of Maths Errors By Matt Parker
  • The Boy Who Harnessed the Wind By William Kamkwaba and Bryan Mealer

teenager

Age 16-17 years

Students at this age are busy preparing for their future after high school. They will need guidance and support to navigate this process. These tips will help both you and your teenager.

Tips for Parents

Help your child think about their future. Encourage students to explore their interests and how they may relate to a future career and education after high school. Be sure to let them do the exploring and try not to do it for them.

Prepare for how your child’s future education will be paid for. With so many options available to students to continue their education, you also need to determine what is the most affordable option for your family. Whether it be community college, 4-year university or a certificate program, you will still want to prepare for how you might be able to help support your child’s future. 

Review your child’s Alfond Grant quarterly statement with them. Make sure they know that there’s money available for their education after high school. Talk with them about how you can help them take that next step after high school.

Read more tips at the Parents’ Guide to College Savings.

Book Recommendations

Many books are available to help teens and parents prepare for their future. Here are some suggestions.

Financial Resources

  • High school is a perfect time for students to get their first job. Whether a summer, weekend, or after-school position, great first jobs for high school students include working at cafes, restaurants, or grocery stores, and a lifeguard, landscaper, or painter
  • Help your child find and apply for private or outside scholarships. School counselors and principals are great resources for local scholarships, but online scholarship databases are helpful in finding national scholarships.
  • Help your teenager understand credit. Explain the concept of credit, credit scores, and the importance of maintaining a good credit history. Emphasize responsible credit card use. Let them know that borrowing money (using credit) is okay, but you need to have a plan to pay it back. Good borrowing helps you in the future.
  • Discuss the importance of being safe online. Your teenager needs to understand the risks associated with sharing information online. Talk about how they can protect their personal and financial information with strong passwords, data encryption, and only using trusted sites.

Additional Resources

Health Resources and Book Recommendations
  • Use healthy coping skills to help manage stress. This is a stressful time for many students but exploring creative outlets such as music, drawing, writing or outdoor activities can help you lower stress levels and maybe even discover a new skill or interest.
  • Encourage students to get involved in their school and community. There are so many clubs and activities offered in schools. Encourage students to find one that matches their interest and see how you can join. If nothing is available, see if there is an opportunity to volunteer in an activity that matches their interests. 
  • Be optimistic in the face of difficulty. There can be many times where it feels like things are piling up, deadlines are approaching and the future may seem uncertain. Be sure to try to stay positive, work together with your student to solve problems and reach out for help when it is needed. 
  • Why Has Nobody Told Me This Before? by Dr. Julie Smith
Literacy Resources and Book Recommendations
  • Be a positive role model. Let your teen see you reading books that you enjoy and help them explore topics that may be of interest to them. 
  • Don’t worry! If your teen isn’t interested in reading for pleasure, don’t worry. That can be normal and may take some time. They will pick up a book when they are ready! 
  • Allow your teen to choose their own reading material. Encourage them to find something they enjoy – even a magazine! This will help them read and discover topics that interest them. Your local library is a good option for exploring a variety of book and magazine topics. 
  • All the Light We Cannot See by Anthony Doerr
  • Wildoak by C.C. Harrington
Science and Math Resources and Book Recommendations
  • Bake with your teen. Cooking and baking with your teen teaches them essential skills they will need as an adult while also teaching them about science and math as you follow measurements and recipes. 
  • Encourage students to sign up for electives in Science, Technology Engineering or Math. STEM courses can lead to a variety of pathways after high school and can spark the interest of students who enjoy a subject that is outside of the standard curriculum. Encourage them to try something new!
  • Explore extracurriculars.  Does your students’ school have a Math or Robotics club? Opportunities like this expose students to fun and engaging activities while learning science or math skills. 
  • The Physics of Everyday Things by James Kakalios
  • Hidden Figures by Margot Lee Shetterly

More Tips for Parents

Parents’ Guide to College Savings

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