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Updated: Mar 2

teach kids about money

Usually the biggest roadblock in regards to teaching kids money is not knowing where to start. So if that's you, well you're in the right place! Unfortunately, there are some who believe that talking to children about money is pointless, but this couldn't be further from the truth! Taking the time to have conversations about money with your child, pre-teen, or teen can help you create an open line of communication that will benefit you both for years to come.

Leaving children to figure out how to manage money on their own can increase the likelihood that they will end up with a lot of bad habits that they'll need to break once they move out on their own.

However, remember the goal isn't exactly to tell them what to DO with their money, but how to THINK about their money. Don't underestimate how much they can learn. It's never too early to start teaching your kids the components of financial literacy such as earning, saving, investing, spending, and giving.

Below are some ways that you can start teaching your kids money at any age:

Pre-School (Ages 3-4)

You might be thinking, how can I teach my kids about money and they may not be able to even read or write (yet)?

Start by introducing them to coins and dollars. Explain what exactly is money. Yes, there are talks about our country moving towards a completely cashless society, but the goal here is to simply introduce them to the value of money. [Check out our worksheets here.]

Kindergarten (Ages 5-6)

Allow your kindergartener to pay for items while you are shopping at the grocery store. This is also a great age to start introducing them to the concept of an allowance by teaching them the value of hard work and compensating them for age appropriate chores.

Elementary ( Ages 7-10)

As your child continues to learn about the value of money and how it works, teach them the difference between their needs and wants. If there is a toy or item that they have been eyeing, start teaching them now how to start putting away a portion of their allowance or money they have earned to begin saving for it.

Middle-School (Ages 11-14)

Now that they have learned the difference between their needs and wants, this is a great time to teach them how to budget and learn about the difference between income and expenses. You can also present to them different ways on how to budget such as the envelope system or zero-based budget system.

Your teens should also be learning about the different bank accounts available, and introduce to them how taxes, credit and credit cards work.

Your KidVestor can learn all of the above and more in our money management curriculum

High-School (Ages 15-18)

This is where finance will start to become a little more advanced as your teen approaches adulthood and prepares to enter into the real world. They've learned how to earn and save, now it's time to prepare them for college, their career, and most importantly learn how to invest. You can share with them the importance of diversification such as investing across multiple assets such as real estate or even the stock market. You can even start facilitating these conversations right now with the help of our free stock market guide.

Implementing these ideas can set up your kids on the path of financial independence.

Keep the conversation going and know that it's never too early to teach our kids and teens about money. Remember, even if you may not have come from a wealthy family a wealthy family can certainly come from you.




  • Enroll your student in our financial literacy course and app here.  

  • If your school or group is looking for a finance curriculum to teach your students about how to manage money, start here to learn more on how to bring KidVestors to your classrooms!

  • Parents, teach your kids money and make money conversations normal in your household by visiting here.

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