Parenting today feels like juggling too many balls: work, school, activities and all the little details of life. It’s no wonder finding time for anything extra seems impossible. But one thing we can’t afford to put off is talking with our kids about money.

Financial literacy is becoming more critical than ever and, unfortunately, many of our children aren’t learning enough about it. Here in Maine, we’re one of 15 states that don’t require financial education in public schools, and that worries me.

As one high school student shared with me after one of our past financial workshops, “No one is talking to us about financial literacy. I think this information should be taught everywhere. Everywhere. Adults should be taught too. Everyone should have the information and tools to succeed. It’s an amazing thing. Great habits can be formed with this information.”

I’ve spent my career at Saco & Biddeford Savings, and this gap is something that’s always on my mind. Our kids are growing up in a world where finances are more complicated than when we were their age. They can spend their allowance with just a click, whether on their game console, TV or phone. With the way money is managed now, it can feel daunting to start that conversation, but let me tell you, if you’re unsure where to begin, you’re not alone.

According to recent data, teens are averaging just 64% on the National Financial Literacy Test. It’s not just the kids – parents often struggle too. In fact, 81% of parents say they wish they had better tools to teach their children about money, and I’ve had many conversations with families who feel exactly this way. The gap is even wider in lower-income communities, where financial literacy is lagging behind.

So, ask yourself: Does my child know enough about handling money? And do I feel equipped to guide them?

If not, that’s OK. There are resources out there to help. At SBS, we’ve partnered with Greenlight to offer educational debit cards and accounts designed for young people. Plus, there’s a trove of online tools right at your fingertips. The key is starting the conversation, especially when your child may not be learning these things in school.

Maine families are resilient, and I’m proud of the many financially savvy households we have here. But preparing the next generation to thrive takes effort and planning. It’s never too early to talk to your kids about managing their money. One day, they’ll be out in the world, making decisions on their own. And when that day comes, they’ll thank you for giving them a strong foundation to build on. Start now – sooner rather than later. The future is closer than we think.