Why Teaching Kids About Money Now Can Save Them Later
Let’s be honest—most of us didn’t learn much about money in school. And unfortunately, that hasn’t changed much for our kids. Outside of a few math problems that mention nickels and dimes, the average school curriculum skips right over real-life financial skills.
The result? A lot of young adults stumbling into debt, struggling to save, and wondering why no one ever taught them how to budget in the first place.
The good news? We can teach our kids what they need to know. When we talk openly with children about money early—and often—it can help them feel confident, capable, and ready for real life in ways you might not even expect. Here’s how.
1. It Helps Them Avoid Huge (Totally Preventable) Money Mistakes
Let’s face it—teens are wired to push boundaries and figure things out the hard way. That’s just part of growing up. But some mistakes, like racking up thousands in credit card debt or taking out loans they don’t understand, don’t need to happen.
If we’re not talking to our kids about how debt works—interest, late fees, credit scores, collections—they’re left to figure it out through trial and (expensive) error. And that can follow them for years.
But when they understand how borrowing works and what it really means to live beyond their means, they start to think differently. That $200 impulse purchase doesn’t seem so tempting when they realize it could turn into $400 with interest… and mess with their ability to buy a car later.
Helping them understand the ripple effects of financial decisions now can save them a whole lot of regret later.
2. It Opens Up Real Opportunities for Their Future
No, money doesn’t guarantee a dream life—but understanding money sure does make more doors open.
Take college, for example. A lot of smart, capable kids end up shelving their college dreams because of debt. And sure, there are people out there working to fix this—folks like National Debt Relief’s CEO, Alex Kleyner, who’s supporting students through tuition help. But the reality is, life gets a lot easier when our kids know how to avoid debt in the first place.
Beyond school, money smarts open up career opportunities too. A kid who knows how to save might be able to take an unpaid internship that gives them a huge leg up. Or they might have the savings to move for a job they love, instead of being stuck by paycheck-to-paycheck living.
When your child has a handle on budgeting, saving, and credit, they get to make choices based on what they want—not what they can barely afford. That’s real freedom.
3. It Makes Adulting (Just a Little) Less Overwhelming
Let’s be real: life is expensive. Rent, groceries, gas, insurance, childcare… it adds up fast. And it’s only getting more intense out there.
If we want our kids to someday own a home, start a family, or just feel steady in their day-to-day life, then we’ve got to teach them how to handle money now. That means showing them how to budget, save for emergencies, and plan for the future—even if that “future” is just being able to buy concert tickets and still make rent.
Money confidence doesn’t mean they’ll never struggle. But it does mean they’ll know how to get back on track when life throws curveballs. And that’s huge.
The Bottom Line?
This stuff isn’t always fun to talk about. It can feel awkward or overwhelming, especially if we weren’t taught these skills ourselves. But it’s so worth it.
When we teach our kids about money from a young age, we’re giving them more than math skills—we’re giving them a head start in life. We’re helping them avoid the pitfalls we may have stumbled into. We’re giving them tools to build a life they’re proud of.
So, don’t wait for the “perfect” moment. Start small. Talk about what things cost. Let them help budget for groceries. Explain how credit cards really work. Celebrate their savings goals. Every conversation adds up.
And who knows? You might just learn a few things along the way too.
