As a business owner and father of two young girls, I understand the importance of financial intelligence, the power of saving, and the responsibility a parent feels to pass that knowledge on. As a parent, one of my biggest goals is to take care of my family while also teaching my children how to take care of themselves to ensure they have successful futures.



  1. Use a clear jar - Piggy banks are fun but if you use a transparent container to save, your child will be able to see the growth of their money over time.
  2. Counting exercises - Counting money at different times during the process of savings demonstrates how contributions add up over time, all while exercising their math skills.
  3. Use of games - Introduce basic finance concepts by playing games like imaginary store.
  4. Set a good example - By exemplifying good spending habits (like avoiding impulse purchases or buying while items are on sale) you teach your children to use their best judgment when making financial decisions.
  5. Teach them to earn money - Using chores as a way to make money is a much more effective learning tool than just handing your child a weekly allowance.
  6. Demonstrate that money is directly tied to items- By literally showing your child the price of something they want, counting the money out to purchase it, and demonstrating the transaction, the value of money is reinforced.
  7. Explain different methods of payment - When making purchases, familiarize your children with the different methods of payment - cash, credit, check.
  8. Let them make spending mistakes - By letting your child make their own decisions on what to do with their money - whether wise or not - you will be showing them what is or isn’t worth buying.
  9. A part-time job - Encouraging your child to make their own money through part-time work will make them take pride in their earnings.
  10. Open a bank account - Guide your child through the process of opening his or her own bank account. Explain the difference between savings and checking accounts.
  11. College fund - If your child is planning on going to college after high school, guide them towards setting savings goals for the coming future.
  12. Credit - Educate your teens about the benefits of paying with credit (like in an emergency situation) but emphasize the negative effects it can have on their financial situation if they can’t make payments on time, in full. In most cases, a safe mindset to have is ‘if you can’t pay in cash, you can’t afford it.’
  13. Taxes - Teens are often surprised when they get their first paycheck and see how much is taken out in taxes. Explain what taxes are for and help them to complete their tax return at the beginning of the year.
  14. The concept of budgeting - If your teen is saving up for a car, a school trip, or building a college savings fund, now is a great time to teach them about budgeting. Tracking what they make, spend, and save will give them insight on how to properly budget to achieve their goals and be financially responsible.
  15. Instill money-saving habits - By teaching your teens to make small decisions - like opting to make coffee at home rather than buying out- they’re more likely to leave home being financially responsible.
  16. Teach them to invest - When your child is ready, introduce the concept of investing to them. A beginner-friendly finance app can help with this.