Building lasting wealth begins with knowing the right financial tools. However, many people are decades into adulthood before they begin to truly focus on their finances. While it’s still possible to build wealth this way, delaying financial planning may make you feel like you’re left playing catch-up for years.
The truth is that it’s never too early to start learning about financial tools. As financial advisor Felix Kopycinski puts it, “Young people don’t need to know everything about money to get started. They just need the right tools to take the first steps.”
Whether you’re a young adult or a parent looking to help your kids gain a better understanding of how money works, these are a few helpful financial resources to look into:
1. Greenlight
Greenlight is a financial literacy and money management app for kids and teens ages 6 to 18. Parents download the app along with their children and supervise as kids learn valuable money management skills.
Parents can automate allowance payments that go directly to their child’s Greenlight debit card, and kids can even start to invest with their parents’ approval. The app helps them track earnings and savings, build budgets, and more. To younger kids, it might seem like a game—but developing these habits early is a key part of financial wellness.
2. Cleo
There’s a lot of controversy about AI out there, but Cleo is a great example of how AI can be a force for good. Cleo is an AI tool that’s especially useful for millennials and Gen Z. Using Cleo is a lot like chatting with a financially savvy friend, but it also helps users track spending and categorize their expenses.
Cleo offers customized budgeting and savings insights; and if you want a little extra motivation to save, you can even ask it to roast your spending.
3. Haley Sacks/@MrsDowJones
Haley Sacks (better known as Mrs. Dow Jones) is a financial influencer who focuses on helping millennials and Gen Z discover financial empowerment. She offers valuable insights into tax planning, budgeting, and economic news, all while weaving in a healthy dose of humor and pop culture.
4. The Financial Diet
The Financial Diet is a platform with a strong social media presence and a vast collection of articles and videos. It’s remarkably accessible and discusses budgeting, investing, debt, and other money matters in an engaging, non-judgmental way.
5. Next Gen Personal Finance
Next Gen Personal Finance is a non-profit organization offering educators free tools to teach kids about finance. It’s geared toward middle- and high-school students, and thanks to its gamified approach, it keeps most of them engaged.
Next Gen is a great tool for helping kids understand personal finance, but it also ties in current events. Its FinCap Friday series offers weekly financial lessons based on current happenings.
6. Tiffany Aliche
Tiffany Aliche is the author of Get Good With Money, a New York Times bestseller. She’s also the founder of the Live Richer Academy. Her website focuses on some of the key building blocks for financial success for young adults: budgeting, saving, paying off debt, and developing a strong money mindset.
Although Aliche’s website is primarily geared toward women working toward a financially sound future, anyone can learn from her Get Good With Money Plan and other resources. For those starting new business ventures, she even offers a group mentorship program designed to provide guidance and support.
As Felix explains, “Financial literacy at a young age is like compound interest; the earlier you start, the greater the impact over time.”
Want to Discover the Right Financial Tools for You?
The team at Laurel Wealth Planning understands that no two financial situations are the same. The financial tools that work for someone else may not work for you, and vice versa.
LWP’s client-centric approach emphasizes the importance of individualized wealth planning. When you contact us, we take the time to gain a holistic understanding of you and your situation before embarking on your financial plan.
To schedule a complimentary meeting, email laurel.wealthplanning@laurelwealthplanning.com or call (952) 854-6250. Find out whether the Laurel Wealth Planning team is the right financial advisor for you based on your wants and needs.
The foregoing content was prepared by Indigo Marketing Agency with verbiage, opinions and/or financial commentary input provided by Laurel Wealth Planning.
The foregoing content reflects the opinions of Laurel Wealth Planning LLC and is subject to change at any time without notice. Content provided herein has been obtained from sources considered reliable, but we do not guarantee the accuracy or the completeness of any description of securities, markets, or developments mentioned. The content is for informational purposes only and should not be used or construed as investment advice or a recommendation regarding the purchase or sale of any security. There is no guarantee that the statements, opinions, or forecasts provided herein will prove to be correct. Past performance may not be indicative of future results.
Indices are not available for direct investment. Any investor who attempts to mimic the performance of an index would incur fees and expenses which would reduce returns. Securities investing involves risk, including the potential for loss of principal. There is no assurance that any investment plan or strategy will be successful.
As a precautionary measure, we cannot rely on e-mail requests to authorize, direct, or affect the purchase or sale of any security, wire transfer, or to affect any other transactions. Such requests, orders, or other instructions sent via email should be confirmed verbally or by written instructions faxed to 952-854-6250 prior to their anticipated execution. We are unable to ensure that emails sent to you from us, or sent from you to us, will be received. Please contact us at 952-854-6250 if there is any change in your financial situation, needs, goals, or objectives, or if you wish to initiate any restrictions on the management of the account or modify existing restrictions. Additionally, we recommend that you compare any account reports from Laurel Wealth Planning LLC with the account statements from your custodian. Please notify us if you do not receive statements from your custodian on at least a quarterly basis. Our current disclosure brochures, Form ADV Part 2 and Form ADV Part 3, are available upon request and on our website, www.laurelwealthplanning.com. This disclosure brochure, or a summary of material changes made, is also provided to our clients on an annual basis.
Laurel Wealth Planning LLC (LWP) is an Investment Adviser registered with the Securities and Exchange Commission. Registration does not imply any level of skill or training. LWP is a wealth management firm and does not practice law or accountancy. The information and material contained in this communication is confidential and intended for the recipient addressee named. If you are not the intended recipient, please delete the message and notify the sender immediately. The foregoing content was prepared by Indigo Marketing Agency with verbiage, opinions and/or financial commentary input provided by Laurel Wealth Planning.
