Easy steps to building healthy money habits with your children!

The other day I was squeezing in some work while sitting with my daughter, Andie! She pointed at the computer and said: “Mommy that’s the store!” I guess she is right, but that wasn’t what I thought the store was when I was her age. When I was 2 years old, the store was a magical place you drove to with your parents and got to run around in. But to a 2 year old in today’s world, the store is the internet. It must be even harder for them to grasp and understand since they can’t touch or see it. 

How do you explain to your children about money when the world is so different from when we grew up? Money is almost invisible in today’s society, stores are online, and we get paid electronically. 


I’ve realized that in order to teach our children about money, we HAVE to meet them where they are at NOW! What does that mean? It means we first must start by understanding their perception of money before we can impart our money wisdom!

I began to ask Andie a few questions: 

Mom: What is your favorite store?

Andie: The money store!

Mom: What is your favorite thing to buy with money? 

Andie: lollipops and ice cream of course!

Mom: Where do you want to work when you grow up?

Andie: The money store, duh!

Mom: What is your favorite thing about money?

Andie: Buying toys!

Now depending on your child, your questions may be a little more indepth and the answers might make more sense than toys and the money store!

But I’d encourage you to start asking your children questions before preaching to them the importance of saving money. After asking them about money, have your children repeat what mom and dad say about money. OOOH this will be very eye opening! My niece said gas is expensive! Her mom and dad must say gas is expensive enough for a 3 year old to repeat it! Do you have a certain saying about money like money doesn’t grow on trees, or we don’t have enough money for that. 

It’s interesting, sometimes scary, and ALWAYS eye opening when you hear an innocent child repeat what you say, especially when it comes to money! It’ll also push you to be more positive around money, to talk about it more openly, and to bring them into the conversation.

Once you are all on the same page, you can try my favorite money activity for children! All you need are:

4 envelopes

Crayons, markers, stickers, anything to decorate with

The envelopes will be labeled: Spend, Save, Donate, Contribute

Spend: Allow your child to spend a percentage of the money he/she earns or is gifted!

Save: Inspire your child to save a percentage of any money that comes their way! Start with 10 or 20%, it’s an amazing habit they will continue for the rest of their life!

Donate: Have your child research and pick a charity or foundation to donate a percentage of their money. The more invested they are in cause, the more they will donate and feel good about themselves!

Contribute: Challenge your children to contribute some of their money every month to the household budget. Even if it is $5 each month, your child will gain so much confidence AND learn how to budget in day to day expenses!