Optimal Finance Daily - Financial Independence and Money Advice 3346: How Should Parents Talk To Their Kids About Money? by Lisa Harrison of Mad Money Monster
Nov 9, 2025
Explore how parents can thoughtfully introduce their kids to finance. Learn age-appropriate strategies for discussing earning, saving, and investing. Discover the benefits of using games like Monopoly and extra chores to teach budgeting. Hear personal stories about the impact of childhood money attitudes and how to break cycles of financial anxiety. Gain insights into simplifying investment concepts for children. Ultimately, foster open dialogues about money to help build confidence from an early age.
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Start With A Safe Money Conversation
- Create a safe environment before discussing money with your children.
- Explain earning, saving, and investing in age-appropriate ways tied to life stages.
Show Costs Through Real Examples
- Let children see family finances and monthly expenses to build real-world context.
- Use games and simple examples like lights costing money to show trade-offs and scarcity.
Pay For Extra Chores; Teach Income Types
- Pay younger children for chores beyond household responsibilities to teach earning.
- Explain earned versus passive income and show how taxes affect each type.
