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Parenting

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Talking to kids about money: have you done it, and how did it go?

9 replies

JustWorkingItOut1 · 22/05/2026 14:39

Curious how others feel about this. Do you talk to your kids about money and financial principles? When do you think is the right age to start? And has anyone found anything that actually helped make those conversations easier?

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TeenToTwenties · 22/05/2026 14:42

We started once DD could count with cold hard pocket money cash so age 4-6.

This lead into comparing things in (usually charity) shops to see what she liked the best to spend money on.

Then moving on to talking about choices, eg choosing to spend on holidays v designer clothes etc.

Savings books.

Current accounts with cards.

All naturally flows as they grow up.

BornAgainLuddite · 22/05/2026 15:15

I talk to my kids (tween / teen) about money, and numbers. I am financially reasonably secure, and numerate. My kids are both interested in numbers and good at maths. I imagine this makes talking about money matters much, much easier than it could otherwise be.

My kids have known since being really young that, as a family, we have enough money for the things we need, and money for some, but not all, of the things we'd like. They know how much our weekly food shop costs. They know how much an average UK salary is. They know a bit about the minimum wage. They have some awareness of what house prices and rents are locally, and how they compare with average and minimum wages. They know a bit about universal credit and state pensions, disability benefits, etc. I've shown them how compounding works for positive and negative effects. They know what we earn. I've talked the older one through a pension statement and forecast. They know a bit about progressive and regressive taxation. They're fascinated by the budget. They're also fascinated by gambling.

The older one has been very interested in learning about how to adult when they leave home, different options for housing, how to earn money (find a job, get a job, set up a business), all that kind of stuff. They know some jobs pay more, others pay less.

We seem to have a lot of these sorts of conversations in the car. It seems a good environment for many discussions that might otherwise be harder.

Decacaffeinatednow · 22/05/2026 15:18

Mine are adults now but it was easier when they were younger because contactless payments just didn't exist for example. We would always have used cash when paying. And yes, general discussions about how much things cost, about savings, planning to buy things from savings vs using credit cards..
They are very financially literate now.

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BreakingBroken · 22/05/2026 15:18

From toddlerhood when you first say “no” to random toys they want from the grocery store.
Evolves from there to pocket money and paying with cash and making change.
onto wages, savings, stocks etc with time.

IloveJonBonJovi · 22/05/2026 15:20

@BornAgainLuddite
Thus is brilliant. I wish I had a parent like you to teach me things

ImpatientlyWaitingForSummer · 22/05/2026 15:22

I talk to my little one about money now (he’s two), only because he’s very good with numbers and enjoys doing adding and subtracting. Just fun little things like if we’re in a shop I’ll tell him how much money we have and ask him how much we’ll have left if we get something (I make the figures up to make it easier, round numbers under 20), but I think it helps to give them the concept of money changing hands. When we’re in the supermarket and he’s in the trolley he’ll constantly ask me how much this or that is, sometimes he’ll say ooh that’s expensive (it’s normally not 😂 but I like that he knows the word!). When he’s primary age we’ll start with pocket money, savings, “outgoings” etc. I was never really taught about money, I figured it out as I went so I’d like my children to be confident as they get older.

Pistachiomonster · 22/05/2026 15:25

We started from an early age. Saying yes we could buy them X but then we might not be able to afford to go on holiday/pay our mortgage/pay for you when you go to Uni/have enough money for food etc etc.

When they were in sixth form and talking about going to Uni we discussed them working over summer to have a bit of a cushion but we would top them up to max ML account. Also said they would need to budget and if they had a night out buying expensive drinks or bought an expensive pair of trainers etc then they would have to choose between dipping into savings or cutting back in other areas. I.e eating beans on toast for the rest of the month etc. Both left Uni with savings and no debts, both had a great time, both worked hard and played hard both came out with firsts.

mumonthehill · 22/05/2026 15:25

Yes we have always done so. So about using pocket money in the best way but if dc wanted to use it on rubbish so be it but they did begin to learn to save for something bigger. Dc both worked from 15 and they saved half their wages each week. At that age they alas had a monthly allowance that they had to manage and we would say you can have x towards new trainers but if you want more expensive ones then you add to it. They both have had times they have spent on rubbish but we all do that. Ds25 always tried to put bits of money away and it was worth it as he bought a house last year. I think it is vital to learn to budget and save.

Newnammmme · 22/05/2026 15:45

Yes , constantly and especially in the last few years as she’s reached 18.

of course she’s ignored just about everything she has been taught.

she does have £1000 in her help to save , and she works 25 hours is a week along side college to run her car , that I pay absolutely nothing towards, but she has wasted lots of money, and I worry that she has picked up bad spending habits along the way.

she does have more financial information then I had at her age , so I hope she pulls herself round eventually.

my hope is for her stability

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