What are you teaching your kids about money?

Teaching children about money is more than just a lesson—it's a vital step in shaping their future. Introducing financial concepts early helps them build smart habits that lead to lifelong success. And what better time to start than during summer break?

When parents teach their children about money, they set the foundation for financial independence and long-term success. It’s never too early to start this conversation; many parents have already begun.

For those facing financial challenges, guiding children toward independence can feel overwhelming, but there are many simple and effective ways to instill strong financial values.

You can start teaching kids about money early, even with simple counting. The earlier they understand basic ideas, the easier it is to develop good financial habits. Here are some fun activities that are suitable for their age to help you get started:

Count Coins and Bills (Ages 2–5) Help young children recognize and count coins and bills using real or toy money. Turn it into a gameplay "store," sort coins by size, or match them to pictures.

Use a Clear Savings Jar (Ages 3+) A clear jar lets kids see their money grow, visually representing their progress. Set small savings goals, like buying a toy, and help them track their progress weekly. This will give them a sense of accomplishment and you, as a parent, a reassurance of their financial literacy journey.

Read Money-Themed Books (Ages 3+) Books like The Berenstain Bears' Trouble with Money teach earning, saving, and spending through engaging stories. After reading, talk about the characters' money choices. This will entertain your child and instill valuable financial lessons, giving you confidence in their learning.

Start an Allowance (Ages 4+) Introduce allowance with small amounts tied to age-appropriate chores. For example, a 4-year-old might earn $1 for setting the table, a simple and manageable task for their age. Meanwhile, a 10-year-old could earn $5 for mowing the lawn, a more complex chore suitable for their age and physical abilities.

Adult children who are no longer financially dependent on their parents are considered independent—a milestone that every parent hopes their child will achieve. Although letting go can be challenging, witnessing your child thrive on their own is one of the most rewarding aspects of parenting.

Teaching children about money is invaluable, and the long-term benefits are significant. You don’t need to be a financial expert; you just need to be a willing parent ready to encourage open conversations and provide guidance.