Families · March 18, 2025
Why talk to children about money?
By Connie L. Oakes, owner of Oakes Tax Service, LLC and Financial Solutions
Talking to children about money is one of the most important conversations parents, grandparents, and family elders can have. These discussions do not just shape spending habits. They lay the foundation for a lifetime of financial well-being.
Start early, talk often
Age-appropriate conversations about earning, saving, investing, sharing, and spending work because they happen in ordinary moments: birthday money, a grocery trip, a first paycheck. The earlier you start, the more of those moments you get.
The gap we are trying to close
Many teenagers finish high school without confidence in personal finance. A large share cannot explain the difference between a credit card and a debit card. That gap shows up later as debt, poor credit, and stress that did not have to be inherited.
A progressive approach, ages 6 to 24
Ages 6–10: saving, spending, and sharing. Ages 11–14: budgeting, needs versus wants, and goal-setting. Ages 15–18: credit, banking, and earning. Ages 19–24: investing, taxes, debt, and a first real financial plan.
Money conversations are life lessons. At Oakes Tax Service we believe financial literacy is the key to a debt-free future. Start early. Stay consistent. The rising generation will handle independence with more competence than we did.