Research indicates that children in families with limited economic resources are at higher risk for maltreatment. Child welfare agencies and organizations are encouraged to respond to immediate economic-related safety risks, along with addressing possible long-term needs for family financial stability. This section provides resources and information to help parents understand and manage their family's finances, including State and local examples.
Financial Empowerment Toolkit
National Resource Center for Youth Services
Provides information and tools for financial education aimed at youth in care and those transitioning out of foster care. The guide includes resources to promote financial understanding and literacy for youth and young adults.
Helping Your Child Become a Good Money Manager
University of Delaware Cooperative Extension (2012)
Presents strategies for parents on how to teach their children about money management and how to be in control of their finances. It includes tips on modeling smart money decisions and how to guide children to make their own smart money decisions. This factsheet also offers different options for how to teach children to manage their money well.
How to Create and Manage a Budget
Debt.org
Reviews best practices for budgeting and gives advice on how to manage a budget and prevent overspending.
Learning to Manage the Family Money
American College of Pediatrics (2017)
Provides tips to help manage money, create a budget, pay off debt, and build an emergency fund and gives advice on how to teach kids to manage their own money as they grow into adults.
Systems to Family Stability National Policy Academy
U.S. Department of Health & Human Services, Administration for Children & Families, Office of Family Assistance
Presents an 18-month initiative during which eight teams designed and built collaborative systems within and across government agencies to improve family economic security.
Tips to Teach Your Kids About Smart Money Management
My Money Coach (2018)
Outlines tips for parents to help their kids learn to be smart about managing money. The advice includes real world examples on how to prepare children for self-sufficiency.
Ultimate Resources for Teaching Kids About Money
Mint.com
Provides a list of resources and websites for parents to use to help their children learn about money and a variety of aspects of finances including budgeting, earning, and saving.
Youth Financial Education
Consumer Financial Protection Bureau
Provides tools and resources to teach youth and their parents financial capability. The information is designed to help develop financial knowledge, skills, and habits, which is an important stepping stone on the path to adult financial well-being. Visit https://www.consumerfinance.gov/practitioner-resources/adult-financial-education/ to find resources for parents.
State and Local Examples
Economic Self Sufficiency
Cincinnati Works
Highlights the Cincinnati Works program based on the aha! Process book and workshop A Framework for Understanding Poverty. The program offers help to individuals and families to break the cycle of poverty and become economically self-sufficient.
Money Management
California Career Center
Provides links to resources about money management and on topics such as making good choices, creating a budget, financial aid, avoiding scams, and other related subjects.
Preparing Youth for Success in West Virginia
U.S. Department of Health & Human Services (2018)
Explains a program in West Virginia, Teaching Health Instead of Nagging Kids (T.H.I.N.K.) that provides evidence-based instruction to high-risk youth and young adults on how to avoid poverty and achieve success in the future. By integrating efforts to promote healthy relationships and success, T.H.I.N.K. is working to equip youth with tools to successfully transition into adulthood and become self-sufficient.