I’ve done most of these. Learn from my facepalms:
- Bailing them out every time they overspend (teaches entitlement)
- Never talking about family finances (teaches shame or ignorance)
- Giving allowance with no strings (teaches money appears by magic)
- Waiting until they’re “ready” (they never feel ready)
- Making money conversations always serious (boring = ignored)
Making It Stick: The Family Money Meeting
Once a month we have “Family Finance Night.” Pizza + 30 minutes going over:
- What came in (paychecks, gifts)
- What went out (bills, fun)
- Progress toward goals (vacation fund, new bike)
- One new money concept (taxes, inflation, side hustles)
Ten years from now your kids won’t remember the pizza, but they’ll remember feeling included in something important.
Look, nobody’s asking you to turn your kindergartner into Warren Buffett. We’re just trying to raise adults who don’t live paycheck to paycheck, who understand that wealth is built with patience, and who see money as a tool—not a scorecard.
Start small. Start today. The compound interest on your effort will blow your mind.
Your future adult child—who texts you “thanks for teaching me this stuff”—will thank you more than any perfect college application ever could.
Introduce the 50/30/20 rule in kid terms:
- 50% Needs (phone bill if they have one, school supplies)
- 30% Wants (games, clothes, eating out)
- 20% Save/Invest (non-negotiable)
Tools that make this painless:
- Apps like Greenlight or GoHenry (parent-controlled debit cards with built-in allocation)
- Simple Google Sheets budget template—I made one for my daughter with colorful charts
- Let them make a few expensive mistakes. The $80 Fortnite skin that was “totally worth it” and then instantly forgotten? Worth its weight in gold as a lesson.
Ages 14-18: From Theory to Liftoff
High school is when you go from teaching to coaching. They’re earning real money from jobs, facing real choices (car? college? gap year?), and the stakes are higher.
My biggest wins with teens:
- Roth IRA for teens – If they have earned income, open one. $7,000 contributed at 16 earning 8% annually becomes roughly $245,000 by age 65. Show them that math.
- Custodial investment accounts (UTMA/UGMA) – Let them pick a few stocks or index funds with their own money. The emotional connection is completely different.
- Credit education – Add them as authorized users on your credit card (with $100 limit and auto-pay) to start building credit safely.
- Car fund matching – “Save $4,000 and I’ll match it for your first car.” Turns a vague dream into reality fast.
“The best time to start teaching your kids about money was when they were born. The second-best time is right now.”
Common Mistakes Even Smart Parents Make
I’ve done most of these. Learn from my facepalms:
- Bailing them out every time they overspend (teaches entitlement)
- Never talking about family finances (teaches shame or ignorance)
- Giving allowance with no strings (teaches money appears by magic)
- Waiting until they’re “ready” (they never feel ready)
- Making money conversations always serious (boring = ignored)
Making It Stick: The Family Money Meeting
Once a month we have “Family Finance Night.” Pizza + 30 minutes going over:
- What came in (paychecks, gifts)
- What went out (bills, fun)
- Progress toward goals (vacation fund, new bike)
- One new money concept (taxes, inflation, side hustles)
Ten years from now your kids won’t remember the pizza, but they’ll remember feeling included in something important.
Look, nobody’s asking you to turn your kindergartner into Warren Buffett. We’re just trying to raise adults who don’t live paycheck to paycheck, who understand that wealth is built with patience, and who see money as a tool—not a scorecard.
Start small. Start today. The compound interest on your effort will blow your mind.
Your future adult child—who texts you “thanks for teaching me this stuff”—will thank you more than any perfect college application ever could.
Practical moves that worked for us:
- Switch from allowance-for-nothing to paid chores (they learn money = work)
- Open a real kids’ bank account—many banks have no-fee accounts for minors
- Start matching their savings like a 401(k)—I put in 50¢ for every dollar they save long-term
- Play the “Grocery Store Game”: give them $20 fake money and a shopping list. Whatever is left at the end is theirs to keep.
Suddenly they’re comparing prices and asking if the name-brand cereal is really better. Priceless.
Ages 11-13: Budgeting Meets the Real World
Middle school hits and suddenly they want $150 sneakers “because everyone has them.” Perfect teaching moment.
Introduce the 50/30/20 rule in kid terms:
- 50% Needs (phone bill if they have one, school supplies)
- 30% Wants (games, clothes, eating out)
- 20% Save/Invest (non-negotiable)
Tools that make this painless:
- Apps like Greenlight or GoHenry (parent-controlled debit cards with built-in allocation)
- Simple Google Sheets budget template—I made one for my daughter with colorful charts
- Let them make a few expensive mistakes. The $80 Fortnite skin that was “totally worth it” and then instantly forgotten? Worth its weight in gold as a lesson.
Ages 14-18: From Theory to Liftoff
High school is when you go from teaching to coaching. They’re earning real money from jobs, facing real choices (car? college? gap year?), and the stakes are higher.
My biggest wins with teens:
- Roth IRA for teens – If they have earned income, open one. $7,000 contributed at 16 earning 8% annually becomes roughly $245,000 by age 65. Show them that math.
- Custodial investment accounts (UTMA/UGMA) – Let them pick a few stocks or index funds with their own money. The emotional connection is completely different.
- Credit education – Add them as authorized users on your credit card (with $100 limit and auto-pay) to start building credit safely.
- Car fund matching – “Save $4,000 and I’ll match it for your first car.” Turns a vague dream into reality fast.
“The best time to start teaching your kids about money was when they were born. The second-best time is right now.”
Common Mistakes Even Smart Parents Make
I’ve done most of these. Learn from my facepalms:
- Bailing them out every time they overspend (teaches entitlement)
- Never talking about family finances (teaches shame or ignorance)
- Giving allowance with no strings (teaches money appears by magic)
- Waiting until they’re “ready” (they never feel ready)
- Making money conversations always serious (boring = ignored)
Making It Stick: The Family Money Meeting
Once a month we have “Family Finance Night.” Pizza + 30 minutes going over:
- What came in (paychecks, gifts)
- What went out (bills, fun)
- Progress toward goals (vacation fund, new bike)
- One new money concept (taxes, inflation, side hustles)
Ten years from now your kids won’t remember the pizza, but they’ll remember feeling included in something important.
Look, nobody’s asking you to turn your kindergartner into Warren Buffett. We’re just trying to raise adults who don’t live paycheck to paycheck, who understand that wealth is built with patience, and who see money as a tool—not a scorecard.
Start small. Start today. The compound interest on your effort will blow your mind.
Your future adult child—who texts you “thanks for teaching me this stuff”—will thank you more than any perfect college application ever could.
Key lessons at this age:
- Money is finite (when the Spend jar is empty, it’s empty)
- Waiting can make things better (watching Save grow)
- Giving feels good (the Give jar teaches generosity early
“The clearest money lessons I ever got were watching my parents argue about bills. Don’t let that be your child’s classroom.”
— Anonymous parent survey, 2024
Ages 7-10: Introducing Real Choices and Opportunity Cost
This is the sweet spot where kids can grasp “if I buy this $30 toy today, I can’t buy the $60 Lego set next month.”
Practical moves that worked for us:
- Switch from allowance-for-nothing to paid chores (they learn money = work)
- Open a real kids’ bank account—many banks have no-fee accounts for minors
- Start matching their savings like a 401(k)—I put in 50¢ for every dollar they save long-term
- Play the “Grocery Store Game”: give them $20 fake money and a shopping list. Whatever is left at the end is theirs to keep.
Suddenly they’re comparing prices and asking if the name-brand cereal is really better. Priceless.
Ages 11-13: Budgeting Meets the Real World
Middle school hits and suddenly they want $150 sneakers “because everyone has them.” Perfect teaching moment.
Introduce the 50/30/20 rule in kid terms:
- 50% Needs (phone bill if they have one, school supplies)
- 30% Wants (games, clothes, eating out)
- 20% Save/Invest (non-negotiable)
Tools that make this painless:
- Apps like Greenlight or GoHenry (parent-controlled debit cards with built-in allocation)
- Simple Google Sheets budget template—I made one for my daughter with colorful charts
- Let them make a few expensive mistakes. The $80 Fortnite skin that was “totally worth it” and then instantly forgotten? Worth its weight in gold as a lesson.
Ages 14-18: From Theory to Liftoff
High school is when you go from teaching to coaching. They’re earning real money from jobs, facing real choices (car? college? gap year?), and the stakes are higher.
My biggest wins with teens:
- Roth IRA for teens – If they have earned income, open one. $7,000 contributed at 16 earning 8% annually becomes roughly $245,000 by age 65. Show them that math.
- Custodial investment accounts (UTMA/UGMA) – Let them pick a few stocks or index funds with their own money. The emotional connection is completely different.
- Credit education – Add them as authorized users on your credit card (with $100 limit and auto-pay) to start building credit safely.
- Car fund matching – “Save $4,000 and I’ll match it for your first car.” Turns a vague dream into reality fast.
“The best time to start teaching your kids about money was when they were born. The second-best time is right now.”
Common Mistakes Even Smart Parents Make
I’ve done most of these. Learn from my facepalms:
- Bailing them out every time they overspend (teaches entitlement)
- Never talking about family finances (teaches shame or ignorance)
- Giving allowance with no strings (teaches money appears by magic)
- Waiting until they’re “ready” (they never feel ready)
- Making money conversations always serious (boring = ignored)
Making It Stick: The Family Money Meeting
Once a month we have “Family Finance Night.” Pizza + 30 minutes going over:
- What came in (paychecks, gifts)
- What went out (bills, fun)
- Progress toward goals (vacation fund, new bike)
- One new money concept (taxes, inflation, side hustles)
Ten years from now your kids won’t remember the pizza, but they’ll remember feeling included in something important.
Look, nobody’s asking you to turn your kindergartner into Warren Buffett. We’re just trying to raise adults who don’t live paycheck to paycheck, who understand that wealth is built with patience, and who see money as a tool—not a scorecard.
Start small. Start today. The compound interest on your effort will blow your mind.
Your future adult child—who texts you “thanks for teaching me this stuff”—will thank you more than any perfect college application ever could.
After interviewing dozens of financially successful adults and reading everything I could get my hands on, I’ve distilled money education down to three non-negotiable pillars:
- Earn – Understanding that money comes from value creation
- Manage – Budgeting, saving, and spending wisely
- Grow – The life-changing power of investing and compound interest
Get these three right, in age-appropriate ways, and you’ve given your child a gift worth more than any inheritance.
Ages 3-6: Planting the First Seeds (It’s Easier Than You Think)
Little kids don’t need spreadsheets. They need clear jars.
The classic three-jar system—Save, Spend, Give—works like magic because it’s visual and tangible. Every time they get money (birthday, tooth fairy, chores), they physically divide it. My friend swears her five-year-old learned delayed gratification faster from seeing his Save jar grow than from any lecture.
Key lessons at this age:
- Money is finite (when the Spend jar is empty, it’s empty)
- Waiting can make things better (watching Save grow)
- Giving feels good (the Give jar teaches generosity early
“The clearest money lessons I ever got were watching my parents argue about bills. Don’t let that be your child’s classroom.”
— Anonymous parent survey, 2024
Ages 7-10: Introducing Real Choices and Opportunity Cost
This is the sweet spot where kids can grasp “if I buy this $30 toy today, I can’t buy the $60 Lego set next month.”
Practical moves that worked for us:
- Switch from allowance-for-nothing to paid chores (they learn money = work)
- Open a real kids’ bank account—many banks have no-fee accounts for minors
- Start matching their savings like a 401(k)—I put in 50¢ for every dollar they save long-term
- Play the “Grocery Store Game”: give them $20 fake money and a shopping list. Whatever is left at the end is theirs to keep.
Suddenly they’re comparing prices and asking if the name-brand cereal is really better. Priceless.
Ages 11-13: Budgeting Meets the Real World
Middle school hits and suddenly they want $150 sneakers “because everyone has them.” Perfect teaching moment.
Introduce the 50/30/20 rule in kid terms:
- 50% Needs (phone bill if they have one, school supplies)
- 30% Wants (games, clothes, eating out)
- 20% Save/Invest (non-negotiable)
Tools that make this painless:
- Apps like Greenlight or GoHenry (parent-controlled debit cards with built-in allocation)
- Simple Google Sheets budget template—I made one for my daughter with colorful charts
- Let them make a few expensive mistakes. The $80 Fortnite skin that was “totally worth it” and then instantly forgotten? Worth its weight in gold as a lesson.
Ages 14-18: From Theory to Liftoff
High school is when you go from teaching to coaching. They’re earning real money from jobs, facing real choices (car? college? gap year?), and the stakes are higher.
My biggest wins with teens:
- Roth IRA for teens – If they have earned income, open one. $7,000 contributed at 16 earning 8% annually becomes roughly $245,000 by age 65. Show them that math.
- Custodial investment accounts (UTMA/UGMA) – Let them pick a few stocks or index funds with their own money. The emotional connection is completely different.
- Credit education – Add them as authorized users on your credit card (with $100 limit and auto-pay) to start building credit safely.
- Car fund matching – “Save $4,000 and I’ll match it for your first car.” Turns a vague dream into reality fast.
“The best time to start teaching your kids about money was when they were born. The second-best time is right now.”
Common Mistakes Even Smart Parents Make
I’ve done most of these. Learn from my facepalms:
- Bailing them out every time they overspend (teaches entitlement)
- Never talking about family finances (teaches shame or ignorance)
- Giving allowance with no strings (teaches money appears by magic)
- Waiting until they’re “ready” (they never feel ready)
- Making money conversations always serious (boring = ignored)
Making It Stick: The Family Money Meeting
Once a month we have “Family Finance Night.” Pizza + 30 minutes going over:
- What came in (paychecks, gifts)
- What went out (bills, fun)
- Progress toward goals (vacation fund, new bike)
- One new money concept (taxes, inflation, side hustles)
Ten years from now your kids won’t remember the pizza, but they’ll remember feeling included in something important.
Look, nobody’s asking you to turn your kindergartner into Warren Buffett. We’re just trying to raise adults who don’t live paycheck to paycheck, who understand that wealth is built with patience, and who see money as a tool—not a scorecard.
Start small. Start today. The compound interest on your effort will blow your mind.
Your future adult child—who texts you “thanks for teaching me this stuff”—will thank you more than any perfect college application ever could.
I’ll never forget the day my then nine-year-old daughter looked up from her iPad and asked, “Dad, why do some YouTubers have Lamborghinis and we don’t?” My first instinct was to laugh it off, but that question hit me hard. Here was a kid growing up in a world of instant everything, and I suddenly realized we had never really talked about how money actually works.
That conversation became the turning point. Within a year she had her own little investment account, understood the magic of compound interest, and—even better—stopped begging for every new gadget. If I could go back, I would have started teaching money skills way earlier. And that’s exactly what this guide is for: to save you the trial-and-error I went through.
Why Money Education Can’t Wait Until They’re “Older”
We teach kids to brush their teeth at two, read at five, and drive at sixteen. Yet somehow we assume they’ll magically figure out money in their twenties. The numbers tell a different story.
According to recent studies, money habits are set by age seven. Seven! That means the way your toddler watches you swipe a credit card or the way your first-grader reacts to “we can’t afford that” is already wiring their financial brain.
Waiting until high school is simply too late. By then, peer pressure, social media, and easy credit apps have already done half the teaching for you—and not in a good way.
The Three Pillars Every Child Needs to Master
After interviewing dozens of financially successful adults and reading everything I could get my hands on, I’ve distilled money education down to three non-negotiable pillars:
- Earn – Understanding that money comes from value creation
- Manage – Budgeting, saving, and spending wisely
- Grow – The life-changing power of investing and compound interest
Get these three right, in age-appropriate ways, and you’ve given your child a gift worth more than any inheritance.
Ages 3-6: Planting the First Seeds (It’s Easier Than You Think)
Little kids don’t need spreadsheets. They need clear jars.
The classic three-jar system—Save, Spend, Give—works like magic because it’s visual and tangible. Every time they get money (birthday, tooth fairy, chores), they physically divide it. My friend swears her five-year-old learned delayed gratification faster from seeing his Save jar grow than from any lecture.
Key lessons at this age:
- Money is finite (when the Spend jar is empty, it’s empty)
- Waiting can make things better (watching Save grow)
- Giving feels good (the Give jar teaches generosity early
“The clearest money lessons I ever got were watching my parents argue about bills. Don’t let that be your child’s classroom.”
— Anonymous parent survey, 2024
Ages 7-10: Introducing Real Choices and Opportunity Cost
This is the sweet spot where kids can grasp “if I buy this $30 toy today, I can’t buy the $60 Lego set next month.”
Practical moves that worked for us:
- Switch from allowance-for-nothing to paid chores (they learn money = work)
- Open a real kids’ bank account—many banks have no-fee accounts for minors
- Start matching their savings like a 401(k)—I put in 50¢ for every dollar they save long-term
- Play the “Grocery Store Game”: give them $20 fake money and a shopping list. Whatever is left at the end is theirs to keep.
Suddenly they’re comparing prices and asking if the name-brand cereal is really better. Priceless.
Ages 11-13: Budgeting Meets the Real World
Middle school hits and suddenly they want $150 sneakers “because everyone has them.” Perfect teaching moment.
Introduce the 50/30/20 rule in kid terms:
- 50% Needs (phone bill if they have one, school supplies)
- 30% Wants (games, clothes, eating out)
- 20% Save/Invest (non-negotiable)
Tools that make this painless:
- Apps like Greenlight or GoHenry (parent-controlled debit cards with built-in allocation)
- Simple Google Sheets budget template—I made one for my daughter with colorful charts
- Let them make a few expensive mistakes. The $80 Fortnite skin that was “totally worth it” and then instantly forgotten? Worth its weight in gold as a lesson.
Ages 14-18: From Theory to Liftoff
High school is when you go from teaching to coaching. They’re earning real money from jobs, facing real choices (car? college? gap year?), and the stakes are higher.
My biggest wins with teens:
- Roth IRA for teens – If they have earned income, open one. $7,000 contributed at 16 earning 8% annually becomes roughly $245,000 by age 65. Show them that math.
- Custodial investment accounts (UTMA/UGMA) – Let them pick a few stocks or index funds with their own money. The emotional connection is completely different.
- Credit education – Add them as authorized users on your credit card (with $100 limit and auto-pay) to start building credit safely.
- Car fund matching – “Save $4,000 and I’ll match it for your first car.” Turns a vague dream into reality fast.
“The best time to start teaching your kids about money was when they were born. The second-best time is right now.”
Common Mistakes Even Smart Parents Make
I’ve done most of these. Learn from my facepalms:
- Bailing them out every time they overspend (teaches entitlement)
- Never talking about family finances (teaches shame or ignorance)
- Giving allowance with no strings (teaches money appears by magic)
- Waiting until they’re “ready” (they never feel ready)
- Making money conversations always serious (boring = ignored)
Making It Stick: The Family Money Meeting
Once a month we have “Family Finance Night.” Pizza + 30 minutes going over:
- What came in (paychecks, gifts)
- What went out (bills, fun)
- Progress toward goals (vacation fund, new bike)
- One new money concept (taxes, inflation, side hustles)
Ten years from now your kids won’t remember the pizza, but they’ll remember feeling included in something important.
Look, nobody’s asking you to turn your kindergartner into Warren Buffett. We’re just trying to raise adults who don’t live paycheck to paycheck, who understand that wealth is built with patience, and who see money as a tool—not a scorecard.
Start small. Start today. The compound interest on your effort will blow your mind.
Your future adult child—who texts you “thanks for teaching me this stuff”—will thank you more than any perfect college application ever could.
