How to Talk to Kids About Money at Every Age

Whether you’ve built a solid nest egg or are still growing wealth intentionally, there’s one legacy move that has the potential to make a lasting impact: teaching the next generation how to handle money. And that starts with one conversation at a time—learning how to talk to kids about money in ways that build confidence, character, and lifelong habits.

From first piggy banks to first jobs, each age brings new chances to talk about values, choices, and what money is actually for. The key isn’t having all the answers—it’s being willing to start.

Here’s how to approach money conversations with your kids and grandkids at every stage of life, using practical tools, real examples, and a healthy dose of common sense.

Ages 5–10: Keep It Simple and Hands-On

At this age, kids are concrete thinkers. If they can hold it, count it, or put it in a jar, it sticks. They’re also learning cause and effect—spend it now, it’s gone; save it up, it grows.

What to teach:

• Spending vs. Saving: Give them two clear containers—one labeled save, one spend. When they get birthday money or earn a couple bucks doing small chores, talk through where it goes and why.
  
  
• Earning Basics: Let them “earn” a little by helping around the house—feeding pets, picking up sticks, helping set the table. It’s not about labor—it’s about connecting money to effort.
  
  
• Decision-Making: Next time you’re at the store, involve them in a choice. “We can buy one toy now, or wait two weeks and get something bigger.” It trains delayed gratification early.

Make it fun, but don’t make it magical. Real-world money decisions have trade-offs, and that’s a lesson better learned young. The goal isn’t perfection, it’s exposure.

Ages 11–14: Build Structure—And Let Them Practice

Middle school is a sweet spot. They’re old enough to understand logic and cause-and-effect, but young enough to still take guidance. Now’s the time to give them simple opportunities to practice managing money—and learn from small mistakes.

What to teach:

• Allowance with Purpose: Move from casual handouts to a system. This doesn’t mean paying them for everything—they’re still part of a family—but consistency matters. Weekly allowance + a list of expected responsibilities builds predictability.
  
  
• Bank Accounts: Open a joint savings or checking account and walk them through what it means to “deposit,” “withdraw,” and check a balance. Let them see what’s going on.
  
  
• Goals and Tradeoffs: Talk about wants vs. needs. If they want a new pair of sneakers but already have three at home, ask them what they’d be willing to give up. It’s less about the shoes—more about training decision-making muscles.

Let them stumble. If they blow their allowance on new headphones and don’t have money for the weekend activity, don’t cover for them. The consequences at this age are small, but the lessons can last.

Ages 15–18: Real-World Money, Real-Life Lessons

High school brings bigger opportunities—and bigger temptations. They might have their first part-time job, their own debit card, or access to peer-to-peer payment apps. At this age, the goal is encouraging them to consider how today’s decisions may shape tomorrow’s opportunities.

What to teach:

• Basic Budgeting: If they’re earning money, they need a simple plan. A good starting point? 50% for spending, 30% for saving, 20% for giving or investing. Or adjust based on their goals.
  
  
• Debit vs. Credit: If they’re going to college soon, explain how credit cards actually work—how interest piles up, what a credit score is, and why paying the balance each month matters.
  
  
• Social Pressures: This is a good time to have conversations about how social media can push spending. Comparison shopping isn’t just for Amazon—it’s for lifestyle, too. Ask them what they feel pressure to buy and why.

If your loved ones are open to it, walk them through your own first job or first car purchase. The goal isn’t to make it about you—it’s to make money feel like a real-life, learn-as-you-go process.

College Years: Teach Strategy, Not Just Caution

Once they’re out of the house, money decisions ramp up fast. Tuition, rent, food, credit, part-time income—it all starts to converge. Here’s where your experience can be a real asset—not just to warn, but to walk alongside.

What to teach:

• Student Loans 101: If they’ve taken out loans, sit down and review the total borrowed, what interest looks like, and what the monthly payment could be after graduation. No fear tactics—just real math.
  
  
• Credit Cards and Credit Scores: Now’s the time for a strong foundation. If they’re opening their first card, help them understand why using only what they can pay off matters. Talk about how a good credit score affects renting an apartment, getting a car, or even job offers.
  
  
• Track What You Spend: Show them how to keep a monthly log—even if it’s simple. Budgeting apps can be helpful, but even a basic spreadsheet or notes app can reveal patterns that need adjusting.

This is a good age to revisit conversations about values. Why do we save? Why do we give? What kind of life are they trying to build, and how does money help get them there?

Money Conversations Are Legacy Conversations

Here’s what we know: kids and grandkids don’t learn about money in school. And if they do, it’s usually theoretical—charts, vocab, hypothetical budgeting scenarios. What they really learn from is you. What you model. What you explain. What you’re willing to talk about.

You don’t need to be perfect. You just need to be present.

Whether it’s through simple piggy bank lessons or deeper conversations about credit, spending, and values, these talks help shape how your kids and grandkids approach money long-term. That’s a legacy worth investing in.

Need more ideas for how to support your family’s financial future? We’re here to help. If you’re already working with us, reach out to your advisor. If you’re new around here, schedule a call with our team today.

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The opinions expressed in this material are for general informational purposes only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is not a guarantee of future results. All indices are unmanaged and cannot be invested in directly.

Investing involves risk, including the potential loss of principal. No investment strategy can guarantee success or protect against loss in all market conditions.

This material is not intended to be a substitute for individualized financial, tax, or legal advice. Please consult your financial advisor, tax professional, or legal counsel regarding your specific situation.