How to Talk to Your Kids About Money in 3 Simple Ways

Hey Moms,

We all heard the saying, “money makes the world go ’round” right?  Though, it’s an arguable statement, money does have a lot to do with our everyday operations, certainly as a parent.

Before this financial literacy month ends, let’s actually talk about finances as moms!  It’s SO important.  The ability to manage money well is more critical than I realized growing up…and especially after having kids.  Can I get an AMEN to that?!

I thought being an adult was hard before kids….sheesh!  Being an adult with kids, and (household) CFO, is like a pressure cooker at times.  Ding!  I’m done!

But, as I normally do, to make sense in the mist of chaos, I take big things and chop them up into tinier, more bite-size parts.  it’s the same with teaching my kids about finances.  Am I a pro?  No!  Am I an expert? No!  I am a committed lifelong learner – a mama committed to doing her thing with what she’s got.  And that goes for everything pretty much, not just money.  We use what we got to get what we want, right?

As I’m growing more, and learning more, I’m realizing prepping youngsters on finances is one of the simplest of things that we can do as parents, to set our kids up for success in life.

Here’s what I do with my kids:

  1. Include them in the daily decision-making processes
    • For example, if we only have $100 to spend on groceries for the week, we plan a list of groceries together, estimate the associated costs and make decisions on what we can/can not get.  It’s like having a board of directors approving the budget. Basically, the daily decision-making in regards to money doesn’t stay a private parent process.  The kids become more aware of what’s going on and how spending/investing decisions are made.   I also share with my kids when I’m investing into things like ice skating lessons so they don’t think the hard work, savings and privileges drop out of the sky.  This single mama works hard to be able to provide for my kids.
  2. Give them ways to make decisions themselves
    • Another example is when they are gifted money, like $20 for a birthday. I allow my kids to surf through an online store like Amazon and pick out an item/s that are under $20.  Or, if your children receive money for weekly chores, they can practice understanding the relationship between money and spending.  If they only have $10, there is a limit to what they can get for that amount.
  3. Change the language
    • One thing I stopped saying is “we don’t have the money.”  Even if it is the low-down dirty truth.  Any mom feel me???  Instead, I wanted to shift the perspective.  Now I say that we spent/invested our money on other things and here’s why…etc.  Because if my children ask for something in the store that I don’t think they need, plus I don’t have the money for, it’s easy for me to default and say we don’t have the money.  But the truth is, even if I had the money, I wouldn’t guide us into that spending decision.  This makes the event a teachable moment for the kids.  I try to teach my children to spend wisely.  If we have a little pot of money, how do we use principles to guide our spending decisions?

Okay, now your turn:  What do you do with your kids to help support their financial literacy?  Spoiler alert – my church (Soul City Church) is providing a free financial workshop this Saturday for the entire family.  I’m going and I’ll either live stream or take notes and send to you.  Promise!

Let’s Win,


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