As a financial professional, I’ve spent nearly two decades helping people make informed decisions about their money. But some of the most important lessons about finances don’t happen in a boardroom or during a retirement planning session—they start at home, often around the dinner table, long before a child ever opens their first bank account. Teaching kids about money isn’t just about dollars and cents; it’s about building confidence, values, and lifelong habits that can lead to financial security and independence.
I’ve always believed that the earlier we introduce financial literacy to children, the better equipped they are to make smart decisions as adults. It doesn’t take a formal education to begin understanding how money works. What it does take is consistency, real-world conversations, and age-appropriate lessons that evolve as a child grows. It’s never too early—or too late—to start.
Starting Small: Early Lessons for Young Kids
When kids are little, their understanding of money is often limited to what they see: coins, bills, or a credit card being swiped at the store. But even at this stage, there are valuable lessons we can teach. Simple concepts like saving, spending, and sharing can be introduced through everyday experiences. Giving a child a piggy bank or three separate jars labeled “spend,” “save,” and “give” can be a powerful visual tool. It helps them see that money has different purposes and that not all of it is meant to be spent right away.
As a father and a financial educator, I’ve seen how these small habits lay the foundation for more complex conversations down the road. Kids notice more than we think. If they hear us talk about budgeting, see us save for a vacation, or watch us compare prices at the store, they begin to pick up on those behaviors. They learn by example, and we, as adults, are their first financial role models.
The Middle Years: Hands-On Experience Matters
As children enter elementary and middle school, their ability to understand more abstract concepts grows. This is the perfect time to introduce the basics of earning money and budgeting. Whether it’s a small allowance for completing chores or earning money from a lemonade stand or babysitting, giving kids the opportunity to manage their own money helps build decision-making skills and a sense of responsibility.
This stage is also a great time to open a simple savings account and explain how interest works. I always encourage parents to bring their kids with them to the bank when opening that first account. The experience of talking to a banker, seeing how deposits work, and watching a balance grow can be incredibly motivating.
During this phase, conversations about needs versus wants also become more meaningful. It’s not about denying them fun purchases but about helping them understand the impact of their choices. When a child saves for something they really want instead of asking for it immediately, they begin to appreciate the value of delayed gratification—a skill that pays dividends for life.
Teenagers and Real-World Practice
Teenagers are standing at the edge of adulthood, and this is when financial education becomes truly critical. They’re often earning more money through part-time jobs, and they may start managing larger expenses like gas, clothing, or even contributing to their own phone plan. This is a great time to introduce budgeting tools and tracking apps so they can monitor their income and expenses.
It’s also the right moment to talk seriously about credit, interest rates, and the dangers of debt. Many teens get their first exposure to credit in college, often without understanding how it works. Without the proper foundation, they can easily fall into the trap of overspending and racking up high-interest debt that follows them into adulthood.
As someone who works with adults every day to repair financial mistakes from their younger years, I can tell you how powerful it is when teens enter adulthood already equipped with the tools and confidence to manage their money wisely. I’ve had the privilege of working with families where these conversations started early, and the difference is clear. Those young adults tend to be more prepared, more thoughtful, and less likely to make costly mistakes.
Learning as a Family
One of the best ways to teach kids about money is by involving the whole family. Whether it’s setting a family savings goal, planning a vacation budget together, or discussing the cost of extracurricular activities, these shared experiences help children understand that financial decisions impact everyone. It also gives them a safe space to ask questions, make small mistakes, and learn.
I’ve always encouraged my clients to treat money as an open topic in their households—not a taboo or a source of stress. When kids grow up in a home where money is talked about openly and responsibly, they are far more likely to feel confident in their ability to handle it. It doesn’t mean you have to share every detail of your finances, but including your children in age-appropriate discussions can go a long way in building their understanding.
Josiah Grauso believes that financial literacy is one of the greatest gifts you can give your children. It’s not just about teaching them how to save or budget—it’s about empowering them to make choices that reflect their values, goals, and dreams. And like any skill, financial literacy takes time, practice, and encouragement to grow.
In a world where financial decisions are increasingly complex, teaching kids about money has never been more important. It’s not just about creating future investors or savers; it’s about raising thoughtful, independent individuals who know how to navigate life’s opportunities and challenges with confidence.
Whether you’re teaching a five-year-old the joy of saving coins in a jar or helping a teenager understand their first paycheck, every conversation counts. Every lesson builds on the last. And every step forward brings your child closer to financial independence.
As someone who’s seen firsthand the difference financial confidence can make, I can tell you there’s no better time to start than now. If you’re not sure where to begin, start small. Share your own experiences. Ask your kids questions. Make learning about money a regular part of life. And when in doubt, remember that the most valuable lessons often come from the conversations we have—and the examples we set.
Josiah Grauso knows that strong financial futures begin with strong foundations. And that foundation can start today, right at home.