Raising Money-Savvy Kids
We’re wrapping up our "Money & Relationships" series today by diving into an important but often overlooked topic—how to talk to your children about money. Parenting is hard enough, but teaching kids about financial habits and equality can feel like an added challenge. Still, setting up these conversations early can have a lasting impact on their financial well-being.
Why It’s Important
Healthy habits are established early in children’s lives, and money habits are no different. Research shows that these habits begin to form as early as age seven. Parents have the unique opportunity to be intentional about breaking down societal biases that influence how kids view money. For example, studies reveal that parents often talk to their sons about wealth-building and to their daughters about saving. This can lead to daughters being less confident in handling money or believing they’re bad at math. Sons, on the other hand, are encouraged to take financial risks, which sets them up with different financial attitudes from an early age. [Sources linked below.]
Let’s work on changing that narrative by ensuring that all children, regardless of gender, feel confident and capable when it comes to managing money. By modeling financial equality and open conversations at home, we can give our children the tools they need for future success.
Three Tips to Raise Financially Savvy Kids:
Have Open Money Conversations Normalize talking about money. Let your kids see you and your partner having money discussions—even when you don’t agree. This teaches them that talking about finances isn’t taboo, but a necessary part of life and relationships.
Break Down Stereotypes Challenge outdated ideas like “men make money, and women spend it.” Show your children that financial success isn’t defined by gender and lead by example in everyday decisions, such as discussing needs vs. wants.
Support Women-Owned Businesses Shop from women-owned businesses and hire women professionals. This not only supports equality but helps your children see women in leadership roles, empowering them to envision similar futures.
Resource: Greenlight - Money App for Families
If you’re looking for a way to teach your kids about money management, consider Greenlight. This app helps families engage in financial discussions and practice money skills together.
Note: Greenlight is not a sponsor; this is simply a resource that may be helpful for families.
Action Step:
Start a family money conversation this week! Whether it's discussing the grocery budget or explaining a bill, involve your kids in a simple financial decision. Normalize these talks and encourage questions to help them grow comfortable with money management.
Cheers,
Ariel
P.S. How do you currently talk to your kids about money? Share your thoughts with me—I’d love to hear from you!
Sources:
How parents talk about money differently to their sons and daughters - Fast Company
