5 Easy Ways to Teach Kids About Money at Home
Share
Talking to your kids about money might feel awkward at first. This may feel especially true if your own financial education came with anxiety, avoidance, or lectures. But the earlier we help kids understand the value of money, the better equipped they’ll be to make smart decisions about their finances down the road.
Some of the best lessons can happen right at home, during everyday moments. Here are five easy ways to start:
1. Make “Save, Spend, Give” Jars
One of the simplest ways to introduce money management is through a three-jar system: one jar for saving, one for spending, and one for giving. Any time your child receives money - like an allowance, some birthday cash, or tooth fairy loot - help them divide it up into jars.
You can let them choose how much goes into each jar or decide together with something like:
- 50% save
- 40% spend
- 10% give
Over time, they’ll learn the power of saving for what they want and being generous with what they have.
2. Play Fun Money Games
Learning doesn’t have to feel like school! Games like Monopoly Junior, The Allowance Game, or Money Bags Coin Value Game sneak in money skills through play. Even apps like Bankaroo can help kids manage virtual allowances.
You can also invent your own game. Turn your living room into a store and give your child a few dollars in play money to shop for toys, books, or snacks. Let them make choices, add up costs, and learn they can’t afford everything.
3. Talk Money Out Loud
Kids learn a ton by listening, even when we don’t realize they’re paying attention. Narrate your own money decisions out loud.
💭 “I’m comparing the prices on these cereals to get the best deal.”
💭 “We’re choosing not to eat out tonight so we can save up for our trip.”
You don’t have to share all the details. Model how to think through purchases, save for goals, and set spending limits to teach your kiddos that money is a tool and can be talked about.
4. Give Earning Opportunities
When kids earn their own money, they treat it differently. It can be a weekly allowance tied to chores or payment for special projects, like organizing the garage. Experiences like these allow kids to work hard to make money.
The key isn’t the dollar amount, it’s the opportunity to earn something. Let them decide how they’ll use their earnings. Even if you know that fidget toy isn’t worth the price, let them make that decision. Natural consequences and rewards are part of the lesson!
5. Set a Family Goal Together
Saving together can build both money skills and family bonds. Maybe you decide as a family that you want a new board game. Create a visual tracker—like a thermometer or sticker chart—and let everyone contribute. You can even tie the goal to specific actions.
💭 “Every time we cook at home instead of ordering out, we’ll add $10 to our save jar so we can get closer to buying that board game.”
This will teach your family that financial choices are about trade-offs and teamwork. And that reaching a shared goal feels really good!
Teaching kids about money doesn’t have to require a spreadsheet. It just takes a willingness to guide them and let them learn through experience. Start small and keep it fun! Think of your home as the classroom and start a lesson today. 🤓
