A few episodes back, we talked about how to broach the subject of finances with your parents. Dr. Amy D’Aprix, a consultant for The Scotiabank Women Initiative, author, and speaker, is back again, this time to help us talk about money with our kids or young family members, because they start learning about money sooner than you think. And with International Women’s Day right around the corner, she also tells us why these conversations are especially important to have with our daughters or young women in our lives. 

The Scotiabank Women Initiative aims to help women break down barriers – including how to manage their financial futures. For more information please visit www.scotiabankwomeninitiative.com. 

Key moments this episode:  

1:55 — “What are you doing leaving the fridge door open?!” How money was typically talked about in households 

2:48 — How that conversation has changed over the years 

3:35 — A telling stat about how talking about money early can help in adulthood 

4:35 — When should you start talking to kids about money? It might be younger than you think. 

5:29 — Some tips and examples on making the conversation fun for kids 

6:36 — Why “more is caught than taught” when it comes to money 

7:36 — What is the ultimate goal of these conversations? 

7:46 — Some interesting facts on why this topic is especially important for daughters 

9:22 — Confidence vs. competence when it comes to money 

10:01 — How the messages to girls and women today are still different   

10:55 — How to best empower young women when it comes to money 

12:24 — Does it matter who the lessons come from? 

13:02 — “I don’t feel confident around money, how can I teach my kids?”  

14:14 — A recap of the key takeaways 

Here are some other resources around kids and money from Scotiabank’s Advice+ page:

• How to teach your kids about budgeting and saving 
• How to teach your kids about financial safety 
• Talk to your kids about money, credit and interest 
• 5 financial tools to teach kids about money