“When do you start talking to your kids about money and how old should they be before you talk to them about it?”
We get this question often and we decided to tackle it head on in today’s podcast episode. And by that, I mean we talked about a number of things that might be a little be controversial. 🙂
We approach the conversation of money with our kids much like we approach anything else in our parenting — with the desire to lead by example and raise future adults. In this episode, we share when we begin talking about money with our kids, why we think it’s important to let your kids handle money from a young age, why we involve our kids in financial conversations and decisions, how we offer our kids opportunity to earn money, and why we are okay with letting our kids make mistakes with money.
In This Episode:
[01:14] What’s saving our lives? It’s all about Christmas decorating,
[06:14] Off the bookshelf: A Cross to Kill by Andrew Huff and Families Where Grace is in Place by Jeff VanVonderen.
[13:57] Learn four strategies to help kids learn how to think about and handle money.
[14:58] Strategy number 1: Set a Great Example. More is caught than taught.
[18:22] The second strategy: Start Teaching From a Young Age. It’s never to early to begin!
[21:39] Strategy number 3: Involve Your Kids as Much as Possible. Make it a family conversation and work together to achieve your financial goals!
[24:42] The fourth strategy: Let your kids make mistakes. Save them the $3000 and $30,000 mistakes later by letting them make $3 and $30 mistakes now.
[28:12] Why we let our kids earn and handle money and what this looks like for us.
Links and Resources:
- A Cross to Kill by Andrew Huff
- Families Where Grace is in Place by Jeff VanVonderen
- Why We Pay Our Kids For Doing Chores
- Crystal’s Favorite Things on Amazon
- CrystalPaine.com
- MoneySavingMom.com
- Crystal’s Instagram account (I’d love for you to follow me there! I usually hop on at least a few times per day and share behind-the-scenes photos and videos, my grocery store hauls, funny stories, or just anything I’m pondering or would like your advice or feedback on!)
- Have feedback on the show or suggestions for future episodes or topics? Send me an email: [email protected]
How to Listen to The Crystal Paine Show
The podcast is available on iTunes, Android, Stitcher, and Spotify. You can listen online through the direct player we’ll include in the show notes of each episode. OR, a much easier way to listen is by subscribing to the podcast through a free podcast app on your phone. (Find instructions for how to subscribe to a podcast here.)
Ready to dive in and listen? Hit the player above or search for “The Crystal Paine Show” on your favorite podcast app.
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My daughter who is 17 is just starting her first job and has the option for direct deposit. She has the option of keeping some out and her response was, “maybe just $10 a check” I don’t really need anything to spend….. I don’t really like having extra money around. She is a huge saver and this new job is exciting for her!
What a wise girl!
AMEN!! My kids watched me go through an Extreme Couponing and frugal phase before they started school and are now that way themselves. I used to listen to Dave Ramsey in the car and we would talk about his financial princip!es.
Our oldest is married and shops at Aldi and paid cash for both cars. Our middle researched every option for financial and and is going to college for free. Our youngest who is 19 will a always look for a sale for clothes and is a saver like no one else in the family. I am so proud of them and proof that they hear you, regardless of their ages.
That is AMAZING!! Way to go, mom!