How I Talk to My Kids About Money — and How You Can Raise Money-Smart Kids Too
As a single mom raising three teenagers on a budget, money is something we’ve always had to be intentional about. There have been times when things were tight, when every grocery trip required careful planning, when “fun” had to be free, and when I had to say no to things I wished I could say yes to.
At first, I used to feel guilty about that. But over time, I realized those very moments , the ones where I had to explain why we couldn’t buy something or why we were saving instead of spending, were teaching my kids lessons I never learned growing up.
I wasn’t just managing money. I was showing them what it means to live with awareness, resilience, and gratitude. Now, as they’ve grown, those conversations have evolved, and I’ve seen how starting early and being honest about money can help kids grow up confident, responsible, and money-smart. So this how I talk to my kids about money and my tips for how you can raise money-smart kids too.
Why It Matters (Especially When You’re Doing It Solo)
When you’re raising kids on your own, every dollar matters, but so does every lesson. Money affects almost everything: what we eat, where we live, what opportunities we can give our kids. Yet, for many families, it’s something that isn’t really talked about until there’s a problem.
I wanted it to be different for us. I wanted my kids to understand not just how to spend money, but how to think about it,how to earn it, save it, share it, and respect it. Because financial literacy isn’t just about dollars, it’s about values: patience, generosity, self-control, and gratitude.
How I Started the Money Conversation
When my kids were little, I started small. I talked about money in everyday moments, at the grocery store, when paying bills, or even when deciding whether to get takeout or cook at home.I explained that money isn’t something that just appears, it’s something you earn by working hard, and it’s something you choose how to use.
We’d talk about what things cost, what’s a need vs. want, and why sometimes the right decision isn’t the easiest one. And I never pretended money was unlimited, instead, I involved them in the decision-making, especially when it came to budgeting for family outings or holiday gifts.
Those talks weren’t always perfect or comfortable, but they were real. And kids remember real.
The 3 Jar System That Changed Everything
When they were younger, we started the three jar system:
- Spend – for things they want right now.
- Save – for something bigger down the road.
- Give – for helping others or supporting causes they care about.
Every time they earned money from chores, birthdays, or small jobs, they divided it between the jars.. This system wasn’t about control, it was about balance. It helped them understand that money has different purposes, and that giving, saving, and spending can all exist together.
Even now as teens, they still think about money this way. It’s become second nature.
How I Teach Them as They Grow
Younger Kids (Ages 5–8)
When my kids were small, I let them handle cash, count change, and make small spending decisions. Yes, sometimes they “wasted” money on silly things, but those little mistakes are how they learned the value of a dollar.
Tweens (Ages 9–12)
This is when we started talking about earning money, through chores, pet sitting, or small projects. We also talked about goals: saving for something meaningful instead of impulse buying.
Teenagers (13+)
Now that they’re older, our conversations are more real.We talk about budgeting, online shopping, debit cards, and even taxes. I’ve shown them our household budget, what groceries cost, how rent works, and how to plan for unexpected expenses.
They see firsthand that financial freedom comes from awareness, not luck.
What I Want My Kids to Learn About Money. More than anything, I want them to understand that:
- Money is a tool, not a measure of worth.
- Having enough doesn’t mean having everything.
- The best things in life — love, laughter, time together — are free.
- Generosity matters just as much as saving.
- And contentment — learning to want less — is the real kind of wealth.
When I talk to my kids about money,e often talk about mindful spending, the same way we talk about sustainability.
Before buying something, we ask:
“Do I really need this?”
“Will it last?”
“Does it align with what I care about?”
It’s amazing how naturally those questions connect both to money and to living more sustainably.
Talking about money with your kids doesn’t have to be scary, even if you’re still figuring it out yourself. Start small. Be honest. Let them see how money really works, the earning, the saving, the giving, the stretching.
If you’re a single parent like me, you might not always have as much money as you’d like, but you have something far more valuable to give: wisdom, awareness, and example. And that’s what truly sets them up for success.
Because raising money-smart kids isn’t about making them rich — it’s about helping them grow into thoughtful, capable, and grateful humans who know how to create a good life, no matter the number in their bank account.
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