Money Matters: Fun and Practical Ways to Teach Your Kids About Money

Are you curious about financial literacy?

Me too — it’s something I nerd out over!

One topic I’m especially passionate about is teaching kids about financial literacy. After all, this isn’t knowledge we’re born with - it’s a skill we learn. And when we teach it early, we give our kids a lifelong advantage in making smart, confident money decisions.

Today, let’s dive into the top questions I hear from parents — and explore simple, engaging ways to empower the kids in your life to feel confident and capable about money:

The questions we’ll cover:

• When should I start teaching my kids about money?
• How do I teach my kids the value of money?
• What are effective methods to teach kids to save money?
• How can I introduce budgeting and smart spending choices?
• How do I talk about money without causing stress or worry?

Ready to turn everyday moments into powerful money lessons? Let’s go!

When Should I Start Teaching My Kids About Money?

Short answer: Start early!

It’s never too soon to plant those money-smart seeds. The key? Keep it age-appropriate and fun.

For Toddlers and Preschoolers:

• Let them handle and sort coins and bills. (Important PSA: make sure they’re past the “everything goes in my mouth” stage!)
• Set up a mini “store” or “restaurant” at home. Watch how they play — it’s fascinating to see what money habits they naturally pick up.
• Start simple conversations about saving versus spending.

For Elementary-Aged Kids:

• Introduce earning money through chores.
• Talk about saving for needs vs. wants.
• Show them how to split money into different “buckets” (like save, spend, give).

For Middle School and Beyond:

• Open up conversations about bigger topics: interest, credit, investing, and goal setting.
• Let them practice with real tools: help them open a savings account, track spending, or even research a simple investment.

Bottom Line: The earlier you start, the more second-nature good money habits become.

How Do I Teach My Kids the Value of Money?

Short answer: Keep it real and relatable!

The best lessons happen in everyday life.

At the Store:

• Turn grocery shopping into a budgeting mission!
• Hand them part of the list and a price limit. Compare brands, talk about “getting the best value,” and celebrate smart choices.

Allowance in Action:

• Set up a system where they divide their allowance into saving, spending, and giving jars (or apps if they’re tech-savvy).
• Encourage them to save for something special — and savor that moment when they reach their goal.

Chores and Earnings:

• Create a “chore menu” with prices attached to each task.
• Praise their efforts — it reinforces that hard work leads to rewards.

Pro Tip: Don’t shy away from letting kids feel the weight of choices. If they spend all their allowance right away,it’s a great, low-stakes lesson!

What Are Effective Methods to Teach Kids to Save Money?

Short answer: Make saving fun and visible or tangible!

Saving money doesn’t have to feel boring or restrictive — it can actually be exciting.

Games and Apps:

• Try fun apps that help kids track money goals.
• Play board games like Monopoly or The Game of Life to sneak in financial concepts through play.

(Bonus Tip: Got a competitive crew? Consider a “winner cleans up” rule to keep it light-hearted!)

Here is a quick Bingo Sheet of ideas for games to play with kids

DIY Projects:

• Create a colorful savings jar at home.
• Draw or print a savings tracker they can color in as they reach milestones.
• Make a vision board for savings goals — whether it’s a toy, trip, or treat!

When kids see progress visually, they get hooked on that saving feeling.

How Can I Teach My Kids About Budgeting and Smart Spending?

Short answer: Practice together, regularly and realistically.

Family Budget Meetings:

• Have short, sweet family “money huddles.” (Serving dessert during meetings is highly encouraged.)
• Talk about upcoming expenses like birthday parties, family outings, or new shoes — and plan together.

Needs vs. Wants:

• Practice prioritizing. Use everyday examples (e.g., “We need groceries. We want that fancy dessert.”).
• Let kids help make small financial choices so they practice real decision-making.’

Saving Goals:

• Encourage setting clear goals: not just “save money,” but “save $30 for new headphones.”
• Celebrate milestones with high-fives, small treats, or even a badge of honor on the fridge.

Remember: Budgeting doesn’t have to feel like restriction — frame it as freedom to choose how we use our money.

How Do I Talk About Money Without Causing Stress?

Short answer: Keep the tone positive, open, and judgment-free.

Create a Safe Space:

• Treat money talks like any other life skill — not taboo, scary, or overwhelming.
• Share your own wins and lessons learned. (“I made a mistake by spending too much on fast food last month - here’s what I’m changing!”)

Normalize Financial Check-Ins:

• Make “money checkups” a regular thing.
• Celebrate wins — even tiny ones! (“You saved $5 this week — that’s awesome!”)

When kids know money is a normal topic, they’re more likely to grow into confident, responsible adults who aren’t afraid to ask questions or seek help.

Final Thoughts: Building Financial Confidence for Life

Teaching your kids about money is one of the most powerful gifts you can give them.

Start early. Keep it fun. Make it real. Celebrate the wins. And most importantly, make sure they know that financial literacy is a skill — not a talent — and it’s one they can absolutely master.

Here’s to raising the next generation of money-smart, confident kids!

Cheers to financial literacy!

Start Early. Stay Curious. Grow Confident.

Brianna Beski is a financial advisor and CDFA at Raymond James, based in Colorado. She focuses on helping people have confidence in their financial futures. For the rest of the story, visit her website or email her at brianna.beski@raymondjames.com.

The foregoing information has been obtained from sources considered to be reliable, but we do not guarantee that it is accurate or complete, it is not a statement of all available data necessary for making an investment decision, and it does not constitute a recommendation. Any opinions are those of Brianna Beski and not necessarily those of Raymond James. Please note, changes in tax laws or regulations may occur at any time and could substantially impact your situation. While we are familiar with the tax provisions of the issues presented herein, as Financial Advisors we are not qualified to render advice on tax or legal matters. Raymond James does not provide tax or legal advice. Please consult your own legal or tax professional for more detailed information on tax issues and advice as they relate to your specific situation.
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