How To Teach Kids About Money Before High School?

How To Teach Kids About Money Before High School?
Skilledwise 28 Jun 2022

Parents perpetually educate their kids about money, whether they realize it or not. Kids minutely absorb whether you organize your shopping, keep aside money into savings, or spend irrationally. It lays the foundation, teaching about money to kids is about fixing a good example. One must also take the time to motivate your kids to comprehend how to manage money with precise lessons.

No one is born with financial skills, instead we comprehend them over time. Merely 15.0% of parents admitted they spoke with their kids more than once a week about domestic finances, 13.0% agreed once a week & 16.0% revealed once a month. About 24.0% discuss with their kids less often and 31.0% never do, a survey submitted.

There is never a juncture when we are not role models for our kids. This implements in every element of life, including money. Kids are like sponges they soak so much info from us even when we are unaware of it.

Why is it essential to educate kids about money?

Educating kids about money gears them with the knowledge and abilities they require to handle their money wisely now and in the coming times.

Kids who handle money wisely are more inclined to have parents who discuss with them about money and render them charge for spending & saving from an early age.

Enrooting kids about money will enhance and shape their future more securely. Therefore, the earlier you initiate developing their money traits, the sooner they can begin to polish those skills. Your way of talking, spending, saving, and handling your money plays a key role in shaping your kid’s concepts about money.

The Do’s: Teaching your kids about money before high school

Engage-kids Engage kids in family budgeting

Start exposing growing kids to money basics by sitting with them and discussing the monthly household expenses.

When you pay your household bills, you can explain to your kids how much money is involved to run a family, like electricity, water, subscriptions, internet, & phone, etc. You can also work together to identify ways to bring down your electricity and other bills, and project it as a fun game for the whole family to join in.

Motivate Kids to Comprehend to Compare Shops

Kids before high school can grasp the fundamentals of comparison shopping. Let kids observe you making a shopping list and glancing at advert pamphlets to record where certain products cost less. Take your kids grocery shopping with you and explain how you compare various brands to make your money buy more.


When your kids want to purchase something with the money they’ve been saving, guide them on how to compare shops so they can obtain the most for their money.

Educate Kids on the Significance of Giving & Sharing

giving and sharing

Quality of earnings, savings and spending is vital, and so is helping those less privileged. Make your kids absorb why you give money to charity and motivate them to share some of their allotments or other earnings with the less blessed. 

Understand what your kids feel strongly about and explain to them ways to help. Kids must acknowledge that devoting their time is a vital approach to helping others when they do not possess adequate money to donate.

Discuss with your kids About How You Organize Your Money

Enrooting the value of money by example is a superior way to start, but illustrating why we organize it one way instead of another can deliver the message with much more impact.

Each time your kids are bugging you to purchase candies, toys, and ice creams is the best chance to say ‘NO’ with a concise explanation of ‘Why Not’.


Make them comprehend why you purchase a specific item instead of a more costly one, what would make you opt for the more expensive one, and how you will afford certain things in the coming time that you can’t purchase now.

Setting-Goals Setting Goals

If your kid desires a certain thing, this is where you can come forward, and imbibe a priceless life lesson about money, if they desire something, they require to work towards it. Whether it’s obtaining enough allowance through household jobs to purchase it themselves, or saving their money, educating your kids to fix goals can empower their money-handling ability in later life.

Assure kids save money on priority

Assure kids

As kids begin to grow older and perhaps start earning a salary/wage from a part-time job, or even from the chores allowance, there's the inclination to spend the money on anything ranging from toys to the latest gadgets. But absorbing how to save money smartly is a critical step to establishing good money traits.

You can enhance this trait early on by instructing your kids to put aside a part of their allowance for future requirements. It's even more vital to emphasize on the advantages of saving with your kids, who may earn an income of their own to organize.

Motivating them to save will educate them on the importance of money, and the tangible gains that arrive from saving money,"

Implement-lingered Implement lingered Delectation

The hardest chapter for everyone, especially kids, is making them wait to purchase what they desire. We all have an innate tendency to purchase things we want or desire immediately. For this reason, it is even more critical that parents implement lingered delectation with kids and resist rendering things they desire for v/s what they need.

This reflects that being firm to say ‘NO’ and comprehend the advantages of lingered satisfaction, can aid in creating long-term savings and other pointers to success in money management.

Teach them about debt and its consequences

Kids, irrespective of their yearnings, should understand the outcomes of debt. Some parents commit the mistake of putting forward education first, but not discussing the toiling it took to accumulate that fund. Again, educating and illustrating discipline and concentrating on a long-term goal is the foundation to succeed.


Allow kids to make monetary blunders (not very expensive ones though), and guide them on how every action has an unavoidable outcome. Explaining to them the burden of debt will be among superior lessons that every parent can educate about their kids, irrespective of the parent’s income. While it is much simpler to comfortably hand over cash and meet all of your kid’s expenditures, having them contemplate & figure out debt management can be priceless.


There’s no ‘Exact Age’ to commence teaching your kids about money, but if your kid(s) are questioning you about money, then it’s high time to begin. Teaching about money is not about the sum of money that is accessible to your kids but about organizing that money for the future. No matter what, there is no one ‘perfect’ way to educate your kids.

This reflects that the parents should observe early signs that their kids are curious about your spending practices, discuss all the roles of money, even those they don’t observe and learn about the approach you can empower them to exercise money habits in developmental & smart manner.