How to Talk to Kids About Money

Children learn about money from what they see and hear at home. Simple, regular conversations help them build healthy habits for life.

Ages 3–5

• Explain that money is exchanged for things we need and want.
• Use a clear jar so they can see savings grow.
• Practise waiting for something they want.

Ages 6–10

• Introduce pocket money.
• Try three jars: save, spend, give.
• Compare prices together when shopping.
• Talk about needs vs wants.

Ages 11+

• Help them set a savings goal for something bigger.
• Explain bank accounts and interest.
• Talk about online spending and in-app purchases.
• Discuss budgeting for activities and gifts.

Lead by example

Kids notice how adults handle money. Talk openly (in an age-appropriate way) about saving for things and making choices.

Mistakes are lessons

If a child spends all their money and regrets it, that's a valuable lesson. Talk about it calmly rather than stepping in to fix it.