How to Teach Kids About Money: Earning, Spending, and Growing It

Are your kids good with money… or just good at getting money from you?

If you can’t tell the difference yet, this episode is for you.

Kids learn real-life skills from the way money moves through your home.

Every time money changes hands, there’s a chance to teach them something about value. Sometimes the lesson is that money is a trade, not simply a handout from Mom and Dad.

I’m a serial entrepreneur, so handing my kids money just for showing up never really occurred to me.

I was much more interested in asking:

How can you add extra value to our lives in exchange for a buck?

Or:

What could you create, sell, improve, or solve in exchange for money?

In our house, we talked about how you make money, how you keep it, how you grow it, and how you spend it.

Most importantly, we talked about how to decide which of those makes sense and when.

That’s where the real learning happens.

The Right Way to Give Kids Money

In this Ask Mom Parenting Podcast episode, we’re talking about the right way to give kids money and why “Here’s twenty bucks because it’s Friday” may not be teaching them what you think it is.

You’ll learn about:

• Earning it: What to pay kids for so they understand the connection between effort, value, and money
• Spending it: How the difference between “Mom, can you buy me this?” and “Do I want this enough to spend my own $30?” helps kids make better decisions
• Growing it: How one $800 Christmas gift eventually became part of a down payment on a house, plus simple ways to help teens understand investing

If you want your kids to make smarter money decisions before they leave home, this episode is for you.

Listen Now on YouTube →

Or listen wherever you get your podcasts.