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Not sure how to talk money with your kids?

You might have reasons that you haven’t yet started to talk about money with your children. It might feel awkward, boring, preachy, or difficult. You might not know where to start, or when it’s the right time. But you probably know it’s important to start.

Talking about money choices, big and small

As you talk to your kids about money, when you talk to them is less important than how you talk to them. When you take into consideration where your children are in their financial development, you can talk to them about important events and build skills they’ll use later in life.

Some topics may be sensitive for your family. Keep in mind that children absorb much more than the words you say—they’re aware of your moods and attitudes too. Start a conversation when you sense it can be productive and comfortable.

The youth financial capabilities survey can help you talk about money choices with your child

CFPB has developed a survey to help young people in grades 3-12 understand money skills, attitudes, and knowledge. The guide for parents and caregivers can help you identify your child's areas of strength and areas for growth.

Common family events can lead to money talks

Getting a pet

Having a pet join your household can feed interest in talking about money.

Buying a car

Getting new transportation can drive a whole new money conversation.

Paying with a credit card

Swiping a credit card instead of using cash or checks can charge up a conversation.

Moving to a new home

Moving out of your old home and into a new one can open the door to a money talk.

Paying bills

Taking care of household expenses can spur a money management conversation.

Parent activities

Download an activity to help you develop your child’s financial literacy skills.

Make spending choices at the park

Children ages 3-5 can learn to stop and think so they can choose what’s best for them before they spend money. In this activity, children get to choose what to do at a park.

Meet yourself as a big kid

Children ages 3-5 can have a hard time planning for the future because they’re so focused on today. This activity can help children think about what their life might be like in the future.

Money sort

Money is what we use to buy things. You earn money by working. In this activity, children ages 3-5 will use the sheet to practice important skills like counting and sorting.

Pretend play

Children ages 3-5 can use suggested scenarios and props to get creative and act out activities, like going to work or going shopping.

Bingo on the go

In the community or when children ages 6-12 travel, they can check off the places they see and talk about how each place is funded – public, private, nonprofit, or a combination of these.

Explore careers with Money Monsters

Children ages 6-9 may not know all of the career options open to them. This activity will help children think about what they like to do and start to explore careers they may enjoy in the future.

Learn to save with Money Monsters

To encourage children ages 6-9 to save money, it can be helpful for them to know exactly what they’re saving for. This is called a savings goal. In this activity, children will explore how to create a plan to make it easier to reach a savings goal.

Protect what’s important to us

Health, family, pets, money, and property are important to a lot of people. This activity will help children ages 6-9 identify what’s important to them and explore ways to protect those things from risk.

Use a budget to shop for a party

Knowing how to make a budget is an important skill that helps people reach their financial goals. In this activity, children ages 7-12 will use a budget to shop for a party.

Choose the best cell phone plan for your family

Comparison shopping is an important skill to have to make the best spending choices. In this activity, teens, young adults ages 13-21 and their family can research the features and costs of cell phones and cell phone plans and use a decision matrix to compare options and choose one that meets your family’s needs, wants, and budget.

Credit cards and how to use them wisely

Learning to use credit cards safely can help teens and young adults ages 13-21 manage and protect their money. In this activity, they will conduct research to learn about credit cards and explore how using a credit card can affect a person’s credit score.

Explore a bank or credit union

In this activity teens or young adults ages 13-21 research a bank or credit union’s products and services and explore factors such as locations, rates, and fees. Knowing as much as they can before they open an account can help them choose the bank or credit union that works for them.

Family members jobs

In this activity children ages 13-18 research and compare the jobs held by family members and what education and training it took to get there.

Talk about paying for higher education

As families and their teens or young adult ages 13-18 plan for their life after high school, explore and research all the possible ways to pay for post-secondary education. This activity will guide you through an internet search of scholarships, grants, loans, and work-study options.

What’s on a pay stub

Show children ages 13-18 how deductions make the difference between wages and take-home pay.

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