A money management training system for children or young adults providing age-appropriate training in money management skills and concepts in which a proportion of real, non-essential spending for the benefit of the child or young adult is provided to them on a periodic basis for their management and is allocated among a set of accounts for different purposes, such as investing, saving, learning, spending, and charitable donation, in predetermined proportions. Preferably, the system is supported by a webpage providing information, interest, games, good and services, and the like, for promoting the development of good financial skills.