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Teaching Kids Everyday Money Skills

money: the taboo subject

Money: The Taboo Subject

For generations, money has been a taboo topic. It hasn’t been something that is typically discussed or brought up in a household. There is a long-standing, almost loyalty to keeping finances “private”.

I know for me, I grew up knowing nothing about my parents’ financial situation. I had no idea how much money they made, saved, spent… anything. They didn’t share it with me, either as a kid or a young adult. And I know I’m not alone. I hear stories every day from people who say “I had to learn about money on my own.”

Now, why is that? Where is this loyalty to keeping finances private coming from? Is it because there is worry about stressing kids out about money? Is it because there is worry about kids feeling entitled? Or is there a sentiment that it is just none of anyone’s business? No matter what the reasoning… it is time to open up the conversation!

We teach kids about manners, how to take turns, how to work and study hard, how to treat others. There is a magnitude of lessons we teach kids every day to prepare them for life. But often the thing that is getting missed is finances.

To truly prepare our kids for a balanced and healthy future, we need to open the money conversation… as difficult as it may feel. Kids need to understand the struggles, the wins and how to manage both in order to become confident and responsible with money. It can make a huge difference in their ability to achieve their dreams. And in the end, isn’t that what we all want!