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You are here: Home / Archives for teaching kids about money

9 Money Conversations Every Mother Should Have With Their Son

October 24, 2025 by Travis Campbell Leave a Comment

money son

Image source: shutterstock.com

Raising boys to be financially savvy isn’t just about teaching them how to save their allowance. It’s about preparing them for real-world challenges, empowering them to make smart decisions, and helping them avoid costly mistakes. Mothers play a crucial role in shaping their sons’ financial habits and attitudes. Open, honest money conversations can set the stage for a lifetime of good choices. If you want your son to thrive as an adult, these talks are essential. Here are nine money conversations every mother should have with their son to help him build a strong foundation for the future.

1. The Value of Hard Work and Earning Money

It’s easy for kids to assume money simply appears when needed. Explain to your son how money is earned through effort, time, and skill. Share stories about your first job, or how you budgeted your earnings as a teen. Encourage him to take on age-appropriate chores or part-time work so he learns the connection between work and income. This lesson helps him recognize the value of money and the satisfaction that comes from earning it.

2. Needs Versus Wants

This is one of the most important money conversations every mother should have with their son. Help him distinguish between essentials, like food and housing, and things that are nice to have, like the latest gadgets or name-brand clothes. Use real-life examples when shopping or budgeting together. When he understands the difference, he’ll be better equipped to make smart choices and avoid impulse spending.

3. Setting and Sticking to a Budget

Budgeting isn’t just for adults. Introduce your son to simple budgeting methods early on. Show him how to track income, plan for expenses, and set aside money for savings. Try using a budgeting app or a simple spreadsheet together. Talk about the importance of living within your means and how a budget can help avoid debt and stress in the future.

4. The Importance of Saving Early

Saving money is a habit that’s best started young. Explain the concept of “paying yourself first” — setting aside money for savings before spending on anything else. Open a savings account together and set goals for short-term and long-term savings. Discuss how even small amounts can add up over time and how savings provide a safety net for emergencies or future opportunities.

5. Credit, Debt, and Responsible Borrowing

Credit can be a useful tool, but only if used wisely. This is another critical money conversation every mother should have with their son before he heads out on his own. Teach him how credit cards work, the dangers of high-interest debt, and the importance of paying bills on time. Talk about credit scores and how borrowing responsibly can impact his ability to rent an apartment, buy a car, or even land a job. Share your own experiences—good or bad—to make it real.

6. Smart Spending and Avoiding Peer Pressure

Peer pressure can lead to spending money just to fit in. Discuss how advertising and social influence can impact his choices. Encourage him to think before making a purchase and to ask himself if he truly wants or needs the item. Remind him that it’s okay to say no and that real friends won’t judge him for being careful with his money.

7. Giving Back and Charitable Giving

Money isn’t just for spending or saving—it can also be used to help others. Talk to your son about the value of generosity and giving back to the community. Whether it’s donating money, volunteering, or supporting a cause he cares about, these experiences can shape his character and outlook. Discuss different ways to give and set an example by getting involved together.

8. Planning for the Future and Setting Financial Goals

Goal-setting is a life skill that goes hand-in-hand with money management. Encourage your son to dream big but also to make realistic financial plans. Talk about saving for college, a car, or a trip. Help him break down large goals into smaller steps and track his progress. These money conversations every mother should have with their son can help him stay focused and motivated.

9. Understanding Financial Basics and Where to Learn More

Financial literacy is an ongoing journey. Teach your son the basics of banking, investing, and how taxes work. Show him where to find reliable information, such as trusted financial websites or books. Introduce him to resources like the Consumer Financial Protection Bureau for unbiased advice. Encourage him to keep learning, ask questions, and never be afraid to seek help when needed.

Building a Foundation That Lasts

Having regular, open money conversations with their son helps every mother develop confidence and independence. These talks aren’t just about dollars and cents—they’re about values, responsibility, and preparing him for life’s ups and downs. With your support and guidance, your son will be ready to face financial challenges head-on and make choices that reflect his goals and character.

Want more resources? Explore Jump$tart Coalition for Personal Financial Literacy for ideas and educational tools you can use together.

What money lessons have you shared with your son? Share your experiences in the comments below!

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Travis Campbell
Travis Campbell

Travis Campbell is a digital marketer/developer with over 10 years of experience and a writer for over 6 years. He holds a degree in E-commerce and likes to share life advice he’s learned over the years. Travis loves spending time on the golf course or at the gym when he’s not working.

Filed Under: parenting Tagged With: financial literacy, money conversations, money skills, parenting and money, Personal Finance, raising sons, teaching kids about money

How to Raise Money-Smart Kids: 7 Tips Every Parent Should Know

February 18, 2025 by Latrice Perez Leave a Comment

The little smart girl in glasses shows graphics company's business activity on a background of a wall with a picture

Image Source: 123rf.com

Teaching kids about money from an early age sets them up for financial success in the future. Many parents struggle with how to instill good financial habits, but it doesn’t have to be complicated. By introducing basic money concepts in everyday life, kids can develop financial literacy that will benefit them for years to come. Whether it’s saving, budgeting, or understanding the value of a dollar, every child can learn to make smart financial decisions. Here are seven practical tips to help you raise money-smart kids.

1. Start with Basic Money Concepts

Young children can begin learning financial literacy by understanding basic money concepts. Teach them about different coins, bills, and what money is used for in everyday life. Simple activities like letting them count change or explaining the cost of groceries can make a big difference. As they get older, introduce the idea of earning, saving, and spending wisely. The earlier they grasp these concepts, the more comfortable they’ll be managing money as adults.

2. Encourage Saving with a Visual Goal

Kids learn best when they can see their progress, so introduce savings goals with a visual element. A clear jar, piggy bank, or digital savings tracker can help them understand how money grows over time. Encourage them to save for something they truly want, like a toy or a special outing. This teaches patience and the importance of delayed gratification. Once they reach their goal, celebrate their achievement to reinforce the value of saving.

3. Give an Allowance with Responsibility

An allowance can be a powerful tool in teaching kids about financial literacy for kids. Instead of just giving them money, tie it to chores or responsibilities to help them understand the concept of earning. Allow them to manage their own money, making choices about saving, spending, and even donating. This hands-on experience builds confidence in financial decision-making. As they grow, adjust their allowance and responsibilities to reflect real-life money management.

4. Teach Budgeting with Real-Life Examples

Child asian little girl putting coin into Piggy Bank in vintage color tone,kid saving money for the future concept

Image Source: 123rf.com

Budgeting is a fundamental skill that kids can start learning early. Use everyday moments like grocery shopping or planning a family trip to show how budgeting works. Let them help compare prices, set spending limits, or decide between needs and wants. Giving them small budgets for things like school supplies or snacks helps them make thoughtful spending choices. Over time, this practice helps them develop a habit of mindful money management.

5. Introduce the Concept of Giving

Financial literacy for kids isn’t just about saving and spending—it’s also about generosity. Teach children the importance of giving by encouraging them to donate a portion of their money to charity or help a cause they care about. Explain how their contributions make a difference and let them choose where to give. Volunteering or participating in fundraising efforts also reinforces the value of generosity. Learning to give teaches empathy and responsible money habits.

6. Show How to Make Smart Purchases

Kids need to understand how to make wise financial decisions when it comes to spending. Teach them to compare prices, look for sales, and consider whether a purchase is truly worth it. If they want a big-ticket item, discuss the benefits of waiting for a discount or saving up instead of impulsively buying. Encouraging them to think critically about their purchases helps build long-term financial responsibility. These small lessons will prepare them to make smart financial choices as adults.

7. Lead by Example with Good Money Habits

Children learn best by watching their parents, so model good financial behavior. Show them how you budget, save, and make smart financial decisions in daily life. Avoid impulse spending and talk openly about financial goals and challenges. Involve them in discussions about bills, savings plans, and long-term financial decisions when appropriate. The more they see responsible money management in action, the more likely they are to adopt those habits themselves.

Share These Tips with Other Parents

Raising money-smart kids is one of the best gifts you can give them for a successful future. By teaching financial literacy for kids through practical lessons and real-life experiences, you help them develop confidence and responsibility with money. Start with small steps and build on their knowledge over time. If you found these tips helpful, share this article with other parents looking to raise financially responsible children. Together, we can help the next generation make smarter financial choices.

Read More:

How Much Money Should I Save Every Month For My Kids?

13 Reasons Why Millennials Will Never Be Able To Pay For Their Kids To Go To College

Latrice Perez

Latrice is a dedicated professional with a rich background in social work, complemented by an Associate Degree in the field. Her journey has been uniquely shaped by the rewarding experience of being a stay-at-home mom to her two children, aged 13 and 5. This role has not only been a testament to her commitment to family but has also provided her with invaluable life lessons and insights.

As a mother, Latrice has embraced the opportunity to educate her children on essential life skills, with a special focus on financial literacy, the nuances of life, and the importance of inner peace.

Filed Under: saving money Tagged With: budgeting for children, financial education for kids, financial literacy for kids, how to raise money-smart kids, kids and allowance, parenting and money, saving tips for kids, teaching kids about money

Teaching Children About Money – Stacking Benjamins Episode #1

May 20, 2013 by Joe Saul-Sehy 15 Comments

Subscribe to the podcast through iTunes and new episodes will show up every week!

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The Stacking Benjamins website isn’t yet ready, but the first episode of our new podcast is complete and hot off the grill! THE Shannon Ryan from The Heavy Purse joins us in the basement to talk about educating children about money. Not looking forward to bored kids this summer? You’re in luck. Shannon’s brought some great tips that we know you’re gonna love.

This week we’ll have new shows for you Monday, Wednesday and Friday to celebrate the launch of Stacking Benjamins! I’m incredibly glad you’re listening. Make sure and do us two favors, if possible:

1) Chat about the new show on social media.

2) Write a review for iTunes.

Why am I asking? While most of the time I like reviews but won’t ask for them, the next few weeks are important. If we have enough listeners in the first week AND we garner enough reviews, we may land a spot on iTunes New & Notable section, and that helps our show marketing tremendously.

Coming later this week:

Wednesday – We introduce PK from DQYDJ (wait till you hear his new intro….) and Kathryn, the Makin’ Sense Babe. Also we have a couple stats from Bank of America that are worth talking about.

Friday – Len Penzo and Dominique Brown make their debut on Stacking Benjamins by interviewing each other about their values, financial goals and money habits. Joe & OG discuss movies for the first time on the new show.

And now….show notes!

 

THE OFFICIAL STACKING BENJAMIN SHOW NOTES (insert your own fanfare HERE)

 

<> Open

<> Show affiliate: Expedia.com

<> The Stacking Benjamins Manifesto: There is only one route to wealth.

<> Interview: Shannon Ryan from The Heavy Purse – 5 Steps To Teach Kids About Money This Summer

Shannon Ryan on Stacking Benjamins podcast

Shannon Ryan shares some cool tips to make your summer easier.

 

Shannon Ryan is a CFP who believes strongly in the value of financial education. We’re glad she could visit the basement to share some not-so-obvious tips. These hints will make the summer easier for you as a parent and more fun for children.

 

Don’t have children? Check out these tips anyway. Shannon’s approach is familiar because she’s teaching kids early the same skills that many adults struggle to internalize.

 

Link to Shannon’s book The Heavy Purse & her Money Club workbooks.

 

<> End Show

 

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Photo of Joe Saul-Sehy
Joe Saul-Sehy

Joe is a former financial advisor and media representative for American Express and Ameriprise. He was the “Money Man” at Detroit television WXYZ-TV, appearing twice weekly. He’s also appeared in Bride, Best Life, and Child magazines, the Los Angeles Times, Chicago Sun-Times, Detroit News and Baltimore Sun newspapers and numerous other media outlets.  Joe holds B.A Degrees from The Citadel and Michigan State University.

joesaulsehy.com/

Filed Under: Podcast Tagged With: Bank of America, iTunes, kids and money, money decisions, podcast, Shannon Ryan, summer activities with kids, teaching kids about money, The Heavy Purse

5 Educational Summer Activities For Kids – Early Elementary

June 12, 2012 by Joe Saul-Sehy 16 Comments

I have a love/hate relationship with summer.

Without any direction, my kids have one thought: XBox. It takes a ton of energy to continually point them to worthwhile summer activities when they aren’t at work or sports practices (even when I take away the XBox).

I love spending time with my children during the summer,

…but my professional goals get chucked out the window when they’re home.

I avoid frustration by realizing that my kids won’t be here forever. This helps me realize again that I want to spend every minute possible doing summer activities with them. They’re already past the “dad’s cool” age (I’m not sure we spent much time in that stage….sigh), so I’ve decided that educational fun is best. Why not have a good time and learn something at the same time?

I can’t believe that in 14 months I’m going to lose them to college.  After that, who knows where the wind will take them?

 

My Experience Is Your Gain

 

If you have kids under age 10 and wonder how you’ll keep the family entertained all summer, here’s a well-used list of educational activities that I can personally endorse…because we did them all.

This week we’ll tackle Early Elementary years (I’ve blocked out everything before that). Next week we’ll hurdle Late Elementary, then we’ll move into the Middle and High School years.  I’ve noted whether each educational activity is an indoor game or outdoor game to help you find what you’re looking for.

Comparison Shopping

 

1) Grocery Store – (indoor games) I can’t keep up the “keep your hands off that”, “no, we can’t get it,” “Put that back!” game for very long. You can call this game “self preservation.”

First, clip coupons. Give them the scissors to cut out the ones that you want. Have them help you organize them in a box. Then, make the list together.

At the store, make it a scavenger hunt. As you approach aisles with coupon items, tell them that you’re getting close to treasure. It’s not only one of our favorite educational summer activities, but a good one for all year round.

Why I Like It: A trip that can be a drudge becomes fun for the kids and bearable for you. Plus, I actually begin seriously looking for grocery deals that might become more “treasure.”

 

2) Count Change – (indoor games) Each day we’d come home and empty pockets into a jar in front of the piggy bank sitting on top of a piece of paper. Here’s what we’d do then:

  • First, talk about the different denominations. It’s a mystery to a 5 year old why a dime is worth double the value of a nickel when it’s half as small. Mind bender.
  • Second, track the years of the coins. For fun one day we started looking at the years on the coins. With newer quarters we started collecting states.
  • Finally, we’d track the amount of money that went into the piggy bank on paper. Initially they’d watch me do the math. Later, as they improved, they’d do some or all of the math.

Why I Like It: Besides being a coin geek, my kids realized that change is valuable and they learned some simple math skills. They’re still great at math!

 

Film School

 

3) Insurance Video – (indoor games) Your homeowners’ insurance policy (hopefully) allows you replacement value of all the items inside (with the exception of high-dollar assets, which should be separately insured). The problem? You have to remember what you owned.

So, I pretended we were making a movie. We dressed in costumes (by we, I mean “they”…I’m a geeky dad, but the costume thing is beyond me). We created some silly plot line where they had to open drawers as I peered inside. That took almost three days to make and we had a blast.

Why I Like It: You’re completing a task hardly anyone accomplishes and entertaining the kids at the same time. You’re a ninja.

 

4) Board Games – (indoor games) You may not know what a game geek I am. I started playing board games in 8th grade when my family got rid of the television (my grades went through the roof AND we had family game nights all the time…and still do).

Monopoly Jr. is an awesome game to teach young kids about money. My kids had their breakthrough (finally understanding the difference between a bill with a $1 on it and another with a $5 on it) while making change in this game. Different than Monopoly (which I can’t stand), the game is short and has a theme more fitting young kids: you’re buying rides at an amusement park.

Why I Like It: The game is widely available AND fun for everyone involved…even dad. (IF you want to purchase the game AND help support the blog, you can use this Amazon link to make your purchase. Thanks!)

 

5) Charity Drive – (Indoor games / Outdoor games)What’s more fun than cleaning the garage? Cleaning the garage with your kids and giving stuff to charity. This one is last because it’s a little like herding goldfish….but we got it done. Load up unwanted items and head to your favorite charitable institution.

Once I explained what we were doing, my kids decided to donate some toys they didn’t use anymore.

Why I Like It: It’s important for me to teach my kids that we live in a community and not everyone is as fortunate as our family. I also appreciate the tax deduction!

 

What are your favorite summer activities with children? Or do you remember a favorite from when you were a child? Share in the comments!

 

Photo Credits: Grocery: epSos.de @ Flickr; Man and Camera: puukibeach @ Flickr)

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Photo of Joe Saul-Sehy
Joe Saul-Sehy

Joe is a former financial advisor and media representative for American Express and Ameriprise. He was the “Money Man” at Detroit television WXYZ-TV, appearing twice weekly. He’s also appeared in Bride, Best Life, and Child magazines, the Los Angeles Times, Chicago Sun-Times, Detroit News and Baltimore Sun newspapers and numerous other media outlets.  Joe holds B.A Degrees from The Citadel and Michigan State University.

joesaulsehy.com/

Filed Under: kids and money, money management Tagged With: summer activities for kids, summer fun kids, summer money fun, teaching kids about money

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